Is an electronic signature valid here?

Yes. Electronic signatures are generally valid under the ESIGN Act (15 U.S.C. §7001) and UETA in most states when intent, consent, attribution, and record retention are satisfied.

Who can sign for the business?

Only persons authorized by corporate bylaws, board resolution, or other formal delegation should sign. Verify authority before accepting signatures to avoid unenforceability.

Do I need a notary or witnesses?

Some states or transaction types require notarization or witnesses. Check state rules for the specific document type and consider remote online notarization where permitted.

How do I correct an error after signing?

Execute an amendment or correction signed by the same authorized parties, retain both versions, and document the reason for the change for auditability.

How long should records be retained?

Follow the retention_timeline guidance. Federal baselines include IRS (3 years) and HIPAA (6 years); some industries require longer retention.

How to revoke or change the designation?

Issue a formal revocation or replacement designation signed by authorized parties, distribute to stakeholders, and update internal systems and vendors promptly.

Electronic Signature
Templates
Miscellaneous
Business of Record Template

Business of Record Template

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

BUSINESS OF RECORD AGREEMENT

This Business of Record Agreement (the "Agreement") is entered into as of Effective Date: by and between:

Client Name:

Client Address

Record Keeper Name:

Record Keeper Address

RECITALS

WHEREAS, Client requires a designated business to act as the official repository for specified corporate and transactional records, and for related services described herein; and

WHEREAS, Record Keeper represents that it has the capability and systems necessary to receive, maintain, and produce such records in accordance with the terms of this Agreement and applicable legal requirements; and

WHEREAS, the parties desire to set forth the terms and conditions governing the appointment of Record Keeper as Client's Business of Record.

SCOPE OF WORK

Record Keeper shall perform the services described below in accordance with the terms of this Agreement. The parties acknowledge that the scope may be amended only by written amendment signed by both parties.

PAYMENT TERMS

Client shall pay Record Keeper the fees set forth below in consideration for services rendered. Fees are non-refundable except as expressly provided in this Agreement.

Fee Amount (USD) Payment Schedule Invoice Frequency Late Fee

All payments shall be due as specified above. If Client fails to pay any amount when due, Record Keeper may suspend services after providing written notice and a reasonable opportunity to cure. Client shall remain liable for costs and expenses incurred prior to suspension or termination.

TERM AND TERMINATION

Term: This Agreement shall commence on Start Date: and shall continue until End Date: unless earlier terminated in accordance with this Agreement.

Notice Period for Termination (days)

Either party may terminate this Agreement for material breach by the other party if the breach remains uncured thirty (30) days after receipt of written notice specifying the breach. Termination shall not relieve either party of obligations accrued prior to the termination date.

CONFIDENTIALITY

Each party acknowledges that in the performance of this Agreement it may receive Confidential Information of the other party. "Confidential Information" means non-public information disclosed in connection with this Agreement, including but not limited to business records, transaction documentation, client lists, and technical or financial information. Each party shall: (a) maintain the confidentiality of Confidential Information with at least the same degree of care it uses for its own confidential information but not less than reasonable care; (b) use Confidential Information only for the purposes of performing this Agreement; and (c) not disclose Confidential Information to third parties except to its employees, agents, or subcontractors who have a need to know and are bound by confidentiality obligations no less restrictive than those herein. Confidential Information shall not include information that is or becomes generally available to the public through no breach of this Agreement or that is required to be disclosed by law, provided that the disclosing party is given prompt notice and an opportunity to seek protective relief.

NOTICES

Notices under this Agreement shall be in writing and delivered to the addresses below by hand, nationally recognized overnight courier, or certified mail (return receipt requested).

Client Notice Address Record Keeper Notice Address

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to its conflicts of law principles. The parties submit to the exclusive jurisdiction of the state and federal courts located in that state for disputes arising out of this Agreement.

ENTIRE AGREEMENT

This Agreement, including any attachments and written amendments signed by both parties, constitutes the entire agreement between the parties pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written. No amendment or waiver of any provision of this Agreement shall be effective unless in writing and signed by both parties.

MISCELLANEOUS

If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect. Neither party may assign this Agreement without the prior written consent of the other party, except that Record Keeper may assign this Agreement in connection with a merger, sale of substantially all assets, or change of control, provided that the assignee assumes Record Keeper's obligations hereunder.

Additional Provisions (optional)

Client Printed Name:

By:

Date:

Record Keeper Printed Name:

By:

Date:

What the Business of Record Template Is

A Business of Record Template is a standardized form used to designate which legal entity or business unit serves as the official point of contact and record holder for specific transactions, invoicing, contracts, regulatory filings, or vendor relationships. The template captures identifying information, effective dates, authorized signers, and routing instructions so internal teams and external partners have a single, auditable source of truth. Use of a consistent Business of Record Template reduces ambiguity about responsibility, supports compliance with recordkeeping rules, and creates a clear trail for audits and disputes.

Why a Clear Business of Record Matters

A clear Business of Record reduces operational errors, prevents duplicate billing, and centralizes responsibility for legal notices and regulatory correspondence. It helps finance, procurement, legal, and compliance teams rely on the same authoritative information for audits, vendor onboarding, and contract execution.

Who Typically Completes This Template

Teams that maintain business identity and transaction responsibility commonly prepare this template before supplier onboarding, contract signature, or regulatory filing.

Finance and accounts payable teams verifying remit-to and tax reporting details for vendors.
Procurement and sourcing teams onboarding suppliers and assigning contract ownership internally.
Legal and compliance teams confirming which entity receives notices and maintains contract archives.

The completed record should be distributed to finance, legal, procurement, and the named authorized signatories so all parties reference the same official designation.

Core Elements Included in a Professional Template

A robust Business of Record Template groups identification, authority, and routing into discrete sections so each item is unambiguous and auditable across systems and auditors.

Entity Details

Full legal name, d/b/a, entity type, state of formation, and Employer Identification Number (EIN) for precise legal identification.

Primary Address

Street address, city, state, ZIP, and remit-to address for payments and legal service to avoid delivery and jurisdictional confusion.

Authorized Signers

Names, titles, and signature authority limits for individuals permitted to sign contracts, invoices, and notices on behalf of the business.

Effective Terms

Effective date and optional expiration or review date; clarifies when the designation begins and when it must be renewed or reassessed.

Record Custodian

Designated custodian responsible for storing originals, digital copies, and retention scheduling in compliance with internal policy and law.

Routing Instructions

Preferred methods for delivery (email, postal, EDI), who receives copies, and escalation contacts for disputed notices or invoices.

Step-by-Step: Completing the Template

Follow these sequential steps to prepare a valid Business of Record designation that is ready for signing and distribution.

01

Gather documents: Collect formation papers, EIN, and board authorization if needed.
02

Fill core fields: Enter entity name, address, EIN, and effective date precisely.
03

Add signers: List authorized signers and their limits clearly.
04

Approve and archive: Obtain signatures, then store original and digital copies securely.

How to Configure an Online Workflow

Map the digital steps and fields before sending the template for signature so recipients see only relevant fields and routing is automatic.

Field	Configuration
Signer Order	Sequential or parallel routing based on approvals
Authentication	Email link, SMS code, or advanced verification
Reminders	Auto-reminders at configurable intervals
Archive Location	Auto-save to cloud repository or internal system

Where to Send or File the Completed Template

Decide the authoritative filing location and the distribution list before finalizing the template so recipients and record custodians are aligned.

Internal Archive: Store originals with the legal or records department
Finance Systems: Upload remit-to details into AP and ERP systems
External Parties: Send signed copies to vendors and partners
Regulatory Filings: File with state agencies when required

Technical Requirements for Digital Completion

Ensure the signing platform supports the file formats, authentication level, and audit trail your organization requires before e-signing.

File Formats: PDF, DOCX accepted
Integrations: Salesforce, NetSuite, Google Workspace
Authentication: Email, SMS, KBA options

eSignature Vendor Comparison for This Template

Comparison of common vendor starting prices and core eSignature features relevant to signing and archiving a Business of Record Template.

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

Essential Data Elements to Include

Legal Entity: Full registered name

Tax Identifier: EIN or TIN

Remit Address: Street, city, state, ZIP

Authorized Signer: Name and title

Effective Date: MM/DD/YYYY format

Record Custodian: Department or person

Key Penalties and Risks to Watch

Tax Penalties: See IRC §6721 penalties

Backup Withholding: 24% if TIN missing

Contract Disputes: Ambiguity may void obligations

Notary Defects: Improper notarization can delay acceptance

HIPAA Violations: BAA required for PHI

Record Loss: Inadequate retention risks noncompliance

Common Mistakes to Avoid

Using informal or trade names instead of the registered legal name, which can cause payment and tax-reporting mismatches and delay vendor onboarding.
Failing to confirm signer authority or attach a board resolution when authority limits are exceeded, producing enforceability questions during disputes.
Omitting effective or expiration dates, which creates ambiguity about when responsibility shifts and complicates audit trails and statute of limitations calculations.
Not preserving an unaltered copy with an audit trail and metadata; without an audit record you may be unable to prove signing intent or chain of custody.

Timing Considerations and Typical Deadlines

Certain actions tied to a Business of Record designation require prompt updates and retention; follow these timing expectations to minimize compliance risk.

Provide Immediately Upon Change:

Update vendors and internal systems as soon as designation changes occur

File With Agencies When Required:

State filing windows vary; check the relevant agency for deadlines

Retain for Statutory Period:

Keep documents per retention_timeline guidance to meet audit needs

Respond to Notices Quickly:

Timely responses reduce exposure to penalties or collection actions

Review Annually:

Conduct an annual verification of authorized signers and addresses

Frequently Asked Questions and Practical Answers

Answers to common questions about validity, signing authority, electronic execution, storage, and what to do when records need correction or revocation.

Need help? Contact support

Is an electronic signature valid here?
Yes. Electronic signatures are generally valid under the ESIGN Act (15 U.S.C. §7001) and UETA in most states when intent, consent, attribution, and record retention are satisfied.
Who can sign for the business?
Only persons authorized by corporate bylaws, board resolution, or other formal delegation should sign. Verify authority before accepting signatures to avoid unenforceability.
Do I need a notary or witnesses?
Some states or transaction types require notarization or witnesses. Check state rules for the specific document type and consider remote online notarization where permitted.
How do I correct an error after signing?
Execute an amendment or correction signed by the same authorized parties, retain both versions, and document the reason for the change for auditability.
How long should records be retained?
Follow the retention_timeline guidance. Federal baselines include IRS (3 years) and HIPAA (6 years); some industries require longer retention.
How to revoke or change the designation?
Issue a formal revocation or replacement designation signed by authorized parties, distribute to stakeholders, and update internal systems and vendors promptly.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now