How official is a Business Intent List

A Business Intent List documents stated plans and approvals but does not by itself create contractual obligations unless the underlying documents or signatures specify binding terms.

Can the list be signed electronically

Yes. Electronic signatures meet ESIGN (15 U.S.C. ch. 96) and UETA requirements where applicable, provided the signature demonstrates intent, consent, attribution, and retention capability.

Do I need notarization

Notarization is only required when a particular item or attached document requires it under state law (for example, certain deeds or powers of attorney); check the state notary rules.

How long must I keep the list

Retention depends on content: tax-related items follow IRS rules (IRC §6501(a)); HIPAA-covered items require six years (45 CFR §164.530(j)).

What causes signature rejections

Common causes include mismatched signer names, missing fields, insufficient authentication for regulated transactions, or failure to follow consumer consent requirements.

How to correct a completed entry

Record an amendment or addendum that references the original item ID, obtain required approvals and signatures, and preserve both the original and corrected versions for audit purposes.

Business Intent List

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

BUSINESS INTENT LIST

This Business Intent List (the Agreement) is entered into as of by and between:

Party A — Name: Address:

Party B — Name: Address:

WHEREAS

WHEREAS, Party A and Party B have engaged in preliminary discussions and each desires to identify potential collaborative business transactions, services, or projects (each an Intent) to be pursued in good faith; and

WHEREAS, the parties wish to document the present list of Intents, general responsibilities, and certain binding provisions concerning confidentiality and payment where applicable, while reserving detailed obligations for subsequent definitive agreements where required; and

WHEREAS, the parties agree that certain portions of this Business Intent List are intended to create enforceable obligations as expressly set forth herein, and other portions are non-binding expressions of intent except as expressly stated.

BUSINESS INTENT LIST

The parties identify the following proposed Intents. Each line describes the nature of the potential transaction, an estimated value, and the current priority status. The entries below constitute a record of intent and do not alone create an obligation to complete any transaction unless otherwise specified in a separate binding agreement.

INTENT ITEM 1

Description Estimated Value Priority

INTENT ITEM 2

Description Estimated Value Priority

SCOPE OF WORK

The parties agree that the initial scope of the collaboration and the primary activities to be undertaken in connection with the Intents are as described below. Specific deliverables, acceptance criteria, and timelines shall be set forth in separate Statements of Work or definitive agreements when applicable.

Scope Description

PAYMENT TERMS

Unless otherwise stated in a separate executed agreement, payments for services or deliverables described in a subsequently executed Statement of Work will conform to the following terms.

Total Agreed Amount Payment Schedule / Milestones Late Payment Fee

TERM AND TERMINATION

The term of this Business Intent List will commence on the Start Date and will continue until the End Date unless earlier terminated in accordance with this section.

Start Date: End Date:

Notice of Termination

Either party may terminate this Agreement for material breach by the other party if such breach is not cured within the notice period set forth above. Termination shall not relieve a party of obligations accrued prior to termination.

CONFIDENTIALITY

Each party (Recipient) shall maintain in confidence all non-public information disclosed by the other party (Discloser) that is identified as confidential or that, by its nature, ought to be treated as confidential (Confidential Information). Confidential Information shall not include information that: (a) is or becomes generally known to the public other than by breach of this Agreement; (b) was in Recipient's possession prior to receipt from Discloser; (c) is rightfully received from a third party without restriction; or (d) is independently developed by Recipient without use of Discloser Confidential Information.

The obligations in this section survive termination of this Agreement for a period of three (3) years, except that trade secrets shall remain protected for as long as they qualify as trade secrets under applicable law.

Is any Intent subject to heightened confidentiality or exclusivity?

Yes — the parties expressly designate one or more Intents as exclusive; such designation must be confirmed in a signed writing describing scope and duration.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to conflict of law principles. Exclusive jurisdiction and venue for any dispute arising under this Agreement shall lie in the state or federal courts located within that jurisdiction.

ENTIRE AGREEMENT

This Agreement, including the Business Intent List and any exhibits or Statements of Work referenced herein, constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, representations, and communications, whether written or oral. No amendment or waiver of any provision of this Agreement will be effective unless in a writing signed by both parties.

MISCELLANEOUS PROVISIONS

Each party represents and warrants that it has full power and authority to enter into this Agreement and to perform its obligations hereunder. Neither party may assign its rights or delegate its duties under this Agreement without the prior written consent of the other party, except to an affiliate or in connection with a sale of substantially all of its assets.

Party A — Printed Name:

By:

Date:

Party B — Printed Name:

By:

Date:

What a Business Intent List Is and When it’s Used

A Business Intent List is a structured record that documents planned commercial actions, proposed transactions, or approvals that a business intends to pursue. It typically lists parties, proposed dates, required approvals, financial terms, and any dependencies or contingencies. Organizations use this list to coordinate internal review, align departments, record intent for counterparties, and create a clear audit trail for decision-making. When circulated with supporting materials, it helps streamline procurement, M&A diligence, partnership negotiations, and multi-step project approvals while preserving an evidentiary record of stated intent.

Why a Business Intent List Matters for Corporate Recordkeeping

A clear Business Intent List reduces ambiguity, documents decision points, and creates an auditable history for internal and external reviewers. It supports compliance with governance policies, clarifies responsibilities, and reduces later disputes about what actions were contemplated or approved.

Who Typically Prepares and Reviews a Business Intent List

Several roles inside an organization commonly prepare or review these lists depending on the context and industry.

Project managers coordinating milestones, approvals, and vendor selection across teams.
Legal and compliance teams verifying regulatory, contractual, and recordkeeping requirements.
Finance and procurement staff confirming budget, payment terms, and vendor onboarding.

Ownership varies by use case: procurement owners for purchasing, deal teams for M&A, and operations for project execution.

Essential Elements to Include in a Professional Business Intent List

A complete Business Intent List organizes actionable items and the information necessary to execute them. Use consistent labels, dates, and contact details so reviewers can act without follow-up.

Item identifier

Assign a unique ID to each entry so references and cross-checks remain unambiguous across systems and communications.

Parties

List full legal names and contact details for all parties involved, including role (buyer, seller, approver) and primary point of contact.

Proposed action

Describe the intended action concisely (e.g., contract execution, purchase order issuance, budget approval) with any quantifiable metrics.

Timing

Provide proposed dates and deadlines, including effective date, required approvals, and any milestone schedule associated with the action.

Dependencies

Note required preconditions, supporting documents, or approvals that must occur before the action can proceed.

Approver and status

Record who must approve, current approval status, and a short history of changes or review notes for each item.

Step-by-Step: Preparing and Circulating a Business Intent List

Follow these sequential steps to create, validate, and distribute the list while preserving an audit trail and minimizing review cycles.

01

Draft the list: Create entries with IDs, parties, descriptions, and dates.
02

Attach support: Add contracts, quotes, or specifications required to evaluate each item.
03

Route for approval: Send entries to named approvers in the required order.
04

Record outcome: Update status, signoffs, and retain the final signed or approved record.

Typical Workflow for Electronic Submission and Tracking

A standard eSubmission workflow helps ensure items move from intent to action without lost or duplicated steps.

Upload: Add the Business Intent List and supporting files to the platform.
Annotate: Place fields for signatures, dates, and approvals as needed.
Send: Distribute via email or secure link to designated approvers.
Archive: Store the final signed list and audit trail in records.

Configuring a Digital Workflow for the Business Intent List

Define required fields, signer order, authentication, and retention settings before sending to reduce review cycles and errors.

Field	Configuration
Signature	Required \| Required signer field per approver
Date	Auto-fill on signing \| MM/DD/YYYY
Authentication	Email link or SMS code \| MFA for sensitive items
Retention	Set retention policy \| Archive on completion

Technical Options for Sharing and Signing the List

Choose a platform that supports the file formats you use and provides an auditable signing workflow.

Formats supported: PDF, DOCX, and HTML
Authentication: Email, SMS, KBA or SSO
Integrations: CRM and cloud storage connectors

Ensure the solution can capture an audit trail (IP, timestamp) and export signed records for long-term retention.

Security and Compliance Attributes to Confirm

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest

Audit trail: Timestamped actions and IP address

Access controls: Role-based permissions

Certifications: SOC 2 Type II, ISO 27001

Privacy: GDPR and CCPA compliance

Health data: HIPAA BAA available

Common Legal Risks and Potential Consequences of Errors

Missing signatures: Invalidates approval

Incorrect names: Delays payments or rejects vendors

Late filings: May trigger fines

Noncompliance: Regulatory exposure

Poor retention: Evidence gaps in disputes

Unauthorized changes: Breach of contract risk

Frequent Pitfalls Teams Encounter

Using inconsistent date formats across items causes confusion during processing and can affect effective dates and deadlines.
Failing to attach supporting documents forces reviewers to request additional materials and extends approval cycles by days or weeks.
Routing approvals to role-based inboxes instead of named approvers creates ambiguity and increases the chance of missed signoffs.
Not capturing an auditable record of consent and signature can complicate downstream enforcement or dispute resolution.

eSignature Pricing and Capability Comparison

Basic vendor pricing and common feature availability for handling Business Intent Lists. signNow is listed first per vendor comparison conventions.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	No	No	Yes, limited	Yes, limited
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Frequently Asked Questions About the Business Intent List

Answers to common execution, signing, and retention questions encountered when using a Business Intent List.

Need help? Contact support

How official is a Business Intent List
A Business Intent List documents stated plans and approvals but does not by itself create contractual obligations unless the underlying documents or signatures specify binding terms.
Can the list be signed electronically
Yes. Electronic signatures meet ESIGN (15 U.S.C. ch. 96) and UETA requirements where applicable, provided the signature demonstrates intent, consent, attribution, and retention capability.
Do I need notarization
Notarization is only required when a particular item or attached document requires it under state law (for example, certain deeds or powers of attorney); check the state notary rules.
How long must I keep the list
Retention depends on content: tax-related items follow IRS rules (IRC §6501(a)); HIPAA-covered items require six years (45 CFR §164.530(j)).
What causes signature rejections
Common causes include mismatched signer names, missing fields, insufficient authentication for regulated transactions, or failure to follow consumer consent requirements.
How to correct a completed entry
Record an amendment or addendum that references the original item ID, obtain required approvals and signatures, and preserve both the original and corrected versions for audit purposes.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now