Is an electronic signature legally binding?

Yes. Electronic signatures meeting intent, consent, attribution, and record retention requirements are legally equivalent to handwritten signatures under the ESIGN Act (15 U.S.C. ch. 96) and state UETA laws where adopted.

Do I need a notary or witnesses?

Most management agreements do not require notarization or witnesses to be valid between the parties, but certain powers or conveyances may require notarization; check state rules and RON availability before relying on e-notarization.

Can I amend the agreement later?

Yes. Include an amendment clause requiring written, signed modifications by authorized representatives; oral modifications are risky and may be unenforceable without clear authorization.

Who should retain the original executed copy?

Both parties should retain signed originals or certified electronic copies in secure repositories; maintain audit trails and exportable PDFs for audits and legal preservation.

What happens if a party lacks signing authority?

Signatures by unauthorized individuals can render obligations voidable; verify corporate authority with resolutions, officer signatures, or power of attorney before execution.

How do I cancel or terminate the agreement?

Follow the contract’s termination clause and notice procedure; for disputes, document attempts to cure breaches and preserve communications to support any later enforcement or defense.

Business MAN Template

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

Business MAN Template

This Business Management Agreement (the Agreement) is made and entered into as of by and between Client Name: and Manager Name: .

WHEREAS

WHEREAS, Client Name: desires to engage Manager to perform business management and advisory services as set forth herein; and

WHEREAS, Manager Name: represents that Manager has the experience, personnel and resources to provide such services and agrees to perform under the terms of this Agreement; and

WHEREAS, the parties wish to set forth the terms governing the scope of services, compensation, confidentiality and other obligations in a binding written agreement.

1. Scope of Work

Manager shall provide management, advisory and administrative services to Client as described below. Manager shall perform services in a professional manner consistent with industry standards.

Detailed Scope of Services

2. Payment Terms

As full compensation for the services described in Section 1, Client shall pay Manager the fees and expenses set forth below.

Compensation Amount (per schedule or fixed) Payment Schedule / Milestones Invoices Due Late Payment Fee

All fees are exclusive of applicable taxes. Client shall reimburse Manager for preapproved out-of-pocket expenses incurred in connection with the performance of services upon submission of reasonable documentation.

3. Term and Termination

This Agreement shall commence on and shall continue until unless earlier terminated as provided below.

Termination Notice Period

Either party may terminate this Agreement for material breach by the other party if such breach remains uncured for the notice period specified above. Termination shall not relieve Client of the obligation to pay for services performed and expenses incurred through the effective date of termination.

4. Confidentiality

For purposes of this Agreement, Confidential Information means all non-public business, financial, technical, and other information disclosed by one party (the Disclosing Party) to the other (the Receiving Party) that is designated as confidential or that a reasonable person would understand to be confidential under the circumstances, including trade secrets, business plans, customer lists, pricing and financial information.

The Receiving Party shall: (a) hold Confidential Information in strict confidence; (b) use Confidential Information solely to perform its obligations under this Agreement; and (c) not disclose Confidential Information to any third party except with prior written consent of the Disclosing Party or as required by law. The obligations in this Section shall survive termination for a period of years.

Exceptions to Confidential Information include information that is or becomes generally available to the public other than through a breach of this Agreement, independently developed by the Receiving Party, or rightfully received from a third party without restriction.

5. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of , without regard to conflicts of law principles.

6. Entire Agreement

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, proposals, and understandings, whether written or oral. Any modification to this Agreement must be in writing and signed by both parties.

7. Miscellaneous Provisions

Independent Contractor. Manager is an independent contractor and nothing in this Agreement shall create an employment, agency or partnership relationship between the parties. Manager shall be solely responsible for all taxes and benefits for Manager's personnel.

Assignment. Neither party may assign its rights or delegate its duties under this Agreement without the prior written consent of the other party, except that either party may assign this Agreement in connection with a merger or sale of substantially all of its assets.

8. Notices

All notices required or permitted under this Agreement shall be in writing and delivered to the addresses below, by hand, certified mail (return receipt requested), or nationally recognized overnight courier service, and shall be effective upon receipt.

Client Address for Notices Client Contact Email Manager Address for Notices Manager Contact Email

Remedies. The parties acknowledge that a breach of the confidentiality, non-solicitation or assignment provisions may cause irreparable harm for which monetary damages would be inadequate. Accordingly, the non-breaching party shall be entitled to seek injunctive or equitable relief in addition to any other remedies.

Client Printed Name:

By:

Date:

Manager Printed Name:

By:

Date:

What the Business MAN Template Is and When It Applies

The Business MAN Template is a standardized management agreement intended for use when an owner or board appoints a manager or management company to operate business activities, assets, or projects on the owner’s behalf. The template defines roles, permitted services, compensation, reporting obligations, performance standards, term and renewal mechanics, confidentiality, and termination rights. It is suitable for operating businesses, property management, and delegated project oversight where the parties want a clear written allocation of authority and responsibilities to reduce disputes and create enforceable expectations under contract law.

Why a Clear Business MAN Template Matters

A well-drafted Business MAN Template clarifies authority, reduces operational ambiguity, and documents financial and reporting duties to support enforceability and auditability. It helps establish who can act, how decisions are made, and what remedies exist for breach.

Typical Users and When They Should Use This Template

Organizations and individuals use this template when delegating management tasks to a third party or internal manager, or when documenting an owner/manager relationship for governance or investor reporting.

Small business owners delegating daily operations to an external manager or management company.
Property owners hiring a property manager for leasing, maintenance, and tenant relations.
Boards or investors formalizing a management arrangement for oversight, reporting, and liability allocation.

Use it at engagement start, during renewal negotiations, or whenever management authority, compensation, or performance metrics require formal documentation for legal or accounting purposes.

Who Typically Signs and Represents Parties

Owner — CEO

The owner or authorized officer signs on behalf of the ownership entity and should confirm corporate authorization, signing authority limits, and tax reporting responsibilities in a written corporate resolution or signature authorization.

Manager — COO

The appointed manager or management company signs to accept duties; include the manager’s legal business name, an authorized signer, and evidence of authority such as a corporate resolution or power of attorney.

Essential Fields to Include

Parties: Legal names

Effective Date: MM/DD/YYYY

Scope of Services: Clear service list

Compensation: Fees and payment terms

Term and Renewal: Length and notice

Signature Blocks: Authorized signers

Key Risks and Consequences of Errors

Unenforceable Terms: Ambiguity risk

Tax Exposure: Misclassification penalties

Liability Gaps: Uninsured obligations

Termination Dispute: Unexpected costs

Data Privacy: HIPAA/FERPA issues

Regulatory Noncompliance: Fines and audits

Common Preparation Mistakes to Avoid

Failing to specify the exact legal entity names and authorized signers, which creates ambiguity about who has authority to bind each party and can void commitments.
Leaving compensation phrased as 'reasonable' without numeric rates or formulas, leading to disputes and inconsistent payments during audits or investor reviews.
Omitting notice periods and methods for termination or renewal, which can extend liability or force costly litigation to resolve the parties' intent.
Neglecting data protection clauses when the manager handles personal or health information, increasing regulatory and contractual exposure under HIPAA or state privacy laws.

How to Complete the Business MAN Template, Step by Step

Follow these steps to prepare an enforceable agreement that documents authority, compensation, and oversight expectations in clear, actionable terms.

01

Identify Parties: Enter full legal entity names and authorized signer details.
02

Define Scope: List specific duties, exclusions, and reporting frequency.
03

Set Compensation: Specify fees, payment schedule, and expense reimbursement.
04

Sign and Date: Have authorized signers execute and retain copies.

Typical Signing and Submission Flow

This sequence describes a standard electronic execution process and where the final executed copy should be stored for governance and audit.

Drafting: Prepare and review the template internally.
Execution: Send to authorized signers for signature.
Return: Collect signed copies and certificates.
Storage: Archive in secure document repository.

How to Configure an Online Workflow for This Template

Set up a repeatable electronic workflow to ensure consistent routing, authentication, and record retention for every management agreement.

Field	Configuration
Signature Order	Sequential or parallel routing
Authentication	Email + optional SMS code or KBA
Audit Trail	Enable timestamps, IP logging
Storage Location	Select enterprise repository

Technical and Integration Considerations for eSigning

Confirm the signing platform supports required authentication, audit trails, and storage formats before relying on electronic signatures.

Integrations: CRM, ERP, cloud
File Formats: PDF, DOCX
Authentication: Email, SMS, SSO

Choose a platform that provides tamper-evident PDFs, export to common repositories, and supports any required legal frameworks so the executed agreement is reproducible for audits and courts.

Typical eSignature Pricing and Feature Comparison

A neutral feature and pricing snapshot showing common plan differences across popular eSignature vendors; signNow appears first as a reference in the comparison.

	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	Yes	Yes	Yes	Yes
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No cap	100 envelopes/user/yr	Varies by plan	Varies by plan	Varies by plan

Core Sections Every Professional Business MAN Template Should Have

Include these six core elements to create a clear, enforceable management agreement that addresses authority, oversight, and remedies.

Parties

Identify full legal names, business entity types, addresses, and authorized signers to avoid ambiguity about who is bound by the agreement.

Scope

Describe management duties, permitted activities, excluded powers, and specific deliverables or performance metrics expected from the manager over the term.

Term

State the initial term, renewal mechanics, and notice requirements for nonrenewal or termination to control the contract lifecycle.

Compensation

Specify fees, expense reimbursement rules, timing of payments, invoicing details, and any incentive or performance-based compensation formulas.

Confidentiality

Include nondisclosure obligations, permitted disclosures, data protection responsibilities, and any HIPAA or privacy addenda if regulated data is handled.

Termination

Set out termination for cause and convenience, cure periods, post-termination obligations, and transition support to minimize disruption.

Key Milestones from Negotiation to Post-Execution

A sequential milestone view showing the major stages from initial draft to post-execution obligations for typical management agreements.

01

Drafting and Review

Prepare draft, circulate for internal review and legal review.

02

Execution

Authorized signers execute and date the agreement.

03

Effective Date

Contract becomes binding on the stated effective date.

04

Post-Execution Handover

Manager begins duties and delivers initial reports as required.

Real-World Examples of Management Agreements in Use

These brief examples show how organizations use management agreements to streamline operations and maintain compliance in practice.

Martin Properties — Real Estate

A regional property owner centralized leasing and maintenance under a written management agreement to speed decision-making.

Manager implemented remote execution workflows to reduce delays.
Tim Martin, Founder of Martin Properties, said: "I can process and execute all of these documents online with 100% compliance and built-in security. Whether on mobile or working offline, I can get forms back to their necessary parties efficiently."

Optica Ventures — Portfolio Management

A private investment firm appointed an external manager to handle day-to-day portfolio oversight and reporting.

Agreement set clear reporting cadence and fee formula.
Brian Fitzgibbons, COO of Optica Ventures LLC, noted: "The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers."

Practical Tips for Accurate and Efficient Completion

Apply these best practices to limit negotiation friction and create an auditable, enforceable document.

Use Precise Legal Names

Always enter the full legal entity name exactly as registered with the state to avoid ambiguity and ensure enforceability and correct tax reporting; confirm with a certificate of good standing when necessary.

Quantify Compensation

Provide explicit fee amounts or formulas and payment timing to reduce disputes; include examples illustrating calculations for typical months and for extraordinary events to increase clarity.

Define Reporting Requirements

Specify report types, frequency, recipients, and delivery method so the manager’s obligations are measurable and suitable for audits and investor reviews.

Preserve Change Control

Require written amendments signed by authorized parties for material changes to scope, compensation, or authority to ensure consistent governance and limit unilateral modifications.

Frequently Asked Questions About the Business MAN Template

Answers to common legal, execution, and post-execution questions to help you avoid pitfalls when using the template.

Need help? Contact support

Is an electronic signature legally binding?
Yes. Electronic signatures meeting intent, consent, attribution, and record retention requirements are legally equivalent to handwritten signatures under the ESIGN Act (15 U.S.C. ch. 96) and state UETA laws where adopted.
Do I need a notary or witnesses?
Most management agreements do not require notarization or witnesses to be valid between the parties, but certain powers or conveyances may require notarization; check state rules and RON availability before relying on e-notarization.
Can I amend the agreement later?
Yes. Include an amendment clause requiring written, signed modifications by authorized representatives; oral modifications are risky and may be unenforceable without clear authorization.
Who should retain the original executed copy?
Both parties should retain signed originals or certified electronic copies in secure repositories; maintain audit trails and exportable PDFs for audits and legal preservation.
What happens if a party lacks signing authority?
Signatures by unauthorized individuals can render obligations voidable; verify corporate authority with resolutions, officer signatures, or power of attorney before execution.
How do I cancel or terminate the agreement?
Follow the contract’s termination clause and notice procedure; for disputes, document attempts to cure breaches and preserve communications to support any later enforcement or defense.

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