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Business MAF Template

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Business MAF Template

Parties

Recitals

WHEREAS, Client Name: desires to engage Provider to perform certain professional services as described herein; and

WHEREAS, Service Provider Name: represents that it has the necessary expertise, personnel, and facilities to provide such services on the terms set forth in this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the Parties agree as follows:

Scope of Work

Service Provider will perform the services and deliverables described below. Services must be performed in a professional and workmanlike manner consistent with industry standards.

Payment Terms

Client shall pay Service Provider for the performance of the Scope of Work as follows. All fees are due in United States Dollars unless otherwise agreed in writing.

Late payments shall incur a late fee of of the past-due balance per month, or the maximum allowed by law, whichever is less. Client is responsible for all reasonable collection costs and attorneys' fees incurred by Service Provider in pursuing delinquent amounts.

Term and Termination

This Agreement commences on the Effective Date and continues until the End Date or until terminated as set forth below.

Effective Date: . Term Start Date: . Term End Date:

Either Party may terminate this Agreement for material breach by the other Party if the breaching Party fails to cure such breach within the notice period set forth above. Termination shall not relieve Client of the obligation to pay for services performed and expenses reasonably incurred through the effective date of termination.

Confidentiality

Each Party (the Recipient) shall hold in confidence Confidential Information disclosed by the other Party (the Discloser). "Confidential Information" means non-public business, technical, or financial information disclosed in any form and identified as confidential or that should reasonably be understood to be confidential. The Recipient shall not use Confidential Information except to perform its obligations under this Agreement and shall not disclose it to any third party except as required by law or with the Discloser's prior written consent.

Confidentiality Period: years from the date of disclosure. The foregoing obligations do not apply to information that: (a) is or becomes public through no fault of the Recipient; (b) was lawfully in the Recipient's possession prior to receipt from the Discloser; (c) is independently developed by the Recipient without use of the Discloser's Confidential Information; or (d) is rightfully obtained by the Recipient from a third party without breach of any obligation to the Discloser.

Representations, Indemnification, and Insurance

Each Party represents that it has the full corporate or individual power and authority to enter into this Agreement. Service Provider shall indemnify and hold harmless Client from claims, liabilities, losses, and expenses arising from Service Provider's negligent acts, willful misconduct, or breach of this Agreement, subject to any limitations of liability set forth by the Parties in writing.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the jurisdiction selected below, without regard to its conflict of law principles.

Entire Agreement

This Agreement, including any exhibits, schedules, and written amendments signed by both Parties, constitutes the entire agreement between the Parties with respect to its subject matter and supersedes all prior and contemporaneous agreements, proposals, negotiations, and communications, whether oral or written. No modification of this Agreement is effective unless in writing and signed by authorized representatives of both Parties.

Notices

All notices, requests, consents and other communications required or permitted hereunder shall be in writing and delivered to the addresses below or to such other address as the receiving Party may designate by notice given in accordance with this Section.

Miscellaneous Provisions

If any provision of this Agreement is held to be invalid or unenforceable, the remainder of the Agreement will remain in full force and effect. The Parties are independent contractors, and nothing in this Agreement creates an employer-employee, partnership, joint venture, or agency relationship except as expressly set forth in writing.

Client Name:

By:

Date:

Service Provider Name:

By:

Date:

Enter text✕

What the Business MAF Template Is and when it’s used

The Business MAF Template is a standard corporate authorization form that documents delegated authority for managers, signatories, or agents to act on behalf of a business. It typically identifies parties, the scope of authority (payments, contracts, bank signers), monetary limits, effective and expiration dates, and any conditions or reporting requirements. Organizations use a Business MAF to reduce ambiguity, support internal controls, and provide third parties such as banks or vendors with a written record of who may legally act for the company.

Why a formal Business MAF matters for organizational control

A clearly drafted Business MAF minimizes disputes over authority, speeds external verification, and strengthens audit trails for internal governance and vendor/bank acceptance.

Why a formal Business MAF matters for organizational control

Who typically completes and relies on a Business MAF

The Business MAF is completed by internal approvers who manage delegated authority and by third parties that need proof of authority.

  • Finance teams (CFO, controller) who set payment and banking signatory limits for the company.
  • Operations or HR leaders who record manager-level administrative approvals and access rights.
  • Legal or corporate secretarial staff who certify authority for contracts, vendor accounts, or bank relationships.

Use this template where written delegation reduces operational risk and clarifies signing privileges for staff and external partners.

Step-by-step: completing the Business MAF Template

Follow these steps in order to complete the form accurately and maintain a clear approval record.

  • 01
    Identify parties: Enter full legal names for all parties and legal entities involved.
  • 02
    Define scope: List specific authorities granted, including transaction types and limits.
  • 03
    Set dates: Specify effective and expiration dates using MM/DD/YYYY format.
  • 04
    Authenticate signatures: Collect required signatures, dates, and notarization or witness details.

Configuring a digital workflow for the Business MAF

Set up a clear eWorkflow to collect signatures, maintain audit logs, and route approvals without delays.

Field Configuration
Template name Business MAF Template
Authentication Email link with optional SMS code
Routing Sequential approvals with conditional steps
Output format PDF with audit trail and certificate

How eSigning a Business MAF typically works

A standard online signing flow minimizes friction while preserving legal evidence of the signing event.

  • Upload document: Sender uploads the completed MAF template to the signing platform.
  • Place fields: Sender inserts signature, date, and identity fields for each signer.
  • Signer authentication: Signer receives link and authenticates via email or second-factor.
  • Completion record: Signed copy and audit trail are stored and distributed to parties.

Core components to include in a professional Business MAF

A complete template balances clarity with enforceability; include elements that provide unambiguous authority limits and proof of execution.

Identifying parties

Provide registered legal names, business type, and addresses for the principal and the authorized individual to eliminate ambiguity and support third-party verification during onboarding or banking checks.

Scope of authority

Describe exactly what actions the authorized person may perform, such as signing specific contracts, approving expenditures, or opening accounts, and note any excluded activities to limit exposure.

Monetary thresholds

Include single-transaction and aggregate limits, approval tiers, and whether amounts require secondary signoff to prevent unauthorized high-value commitments.

Duration and expiry

State effective and expiration dates or event-based termination triggers; this prevents open-ended delegations that could survive personnel changes or reorganizations.

Amendment and revocation

Specify the method for amendment, who may revoke authority, and any notice requirements so revocations are clear and defensible with counterparties.

Execution and authentication

Record signer name, title, date, and required witness or notarization steps; include a provision that electronic signatures satisfying ESIGN/UETA will be equivalent to handwritten signatures.

Practical practices to reduce errors and delays

Implement procedures that prevent avoidable defects and ensure the MAF remains reliable and easy to verify.

Version control and approvals
Maintain a single current template version in a central repository and require labeled approvals for any revisions; this prevents use of outdated forms and preserves an auditable change history for compliance or disputes.
Precise authority language
Use specific verbs and numeric limits rather than general terms like 'as needed'; precise wording eliminates interpretation gaps when banks or vendors review the document.
Dual authorization for high value
Require two signers for transactions above a specified threshold; dual-approval reduces fraud risk and strengthens internal control frameworks and auditability.
Record retention and access
Store signed MAFs with associated audit trails in a secure system with role-based access and retention schedules aligned to regulatory requirements and corporate policy.

Security and compliance elements to document

Encryption transit: TLS 1.2/1.3
Encryption at rest: AES-256
Certifications: SOC 2 Type II
HIPAA readiness: BAA required for PHI
Regulatory support: ESIGN and UETA compliant
Audit trails: Timestamp, IP, action log

Common risks and legal consequences of a defective MAF

Unenforceable authorization: May be unenforceable under 15 U.S.C. §7001
Unauthorized transactions: Creates exposure for the business and counterparty
Fraud or impersonation: Identity failure increases liability risk
Missing notarization: Third parties may reject without acknowledgement
Record retention failures: Impairs audit defense and regulatory response
Incorrect signer: Contracts may be void or subject to challenge

Comparing eSignature options for executing the Business MAF

Platform selection affects cost, authentication options, and compliance features; the table lists basic plan and capability differences across common vendors.

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 credit card Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes (Business Premium) Varies by plan Varies by plan Varies by plan Varies by plan
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Varies by plan Varies by plan Varies by plan Varies by plan
Envelope Cap No envelope cap 100 envelopes/user/year limit Varies by plan Varies by plan Varies by plan

Frequently asked questions: completing and validating a Business MAF

Answers to common execution, signature, and retention questions to help avoid rejections or disputes.


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