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Business Principals Page

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BUSINESS PRINCIPALS PAGE — SERVICES AGREEMENT

Agreement Date:   Effective Date:

Client Name:

Service Provider Name:

WHEREAS

WHEREAS, Client Name: is engaged in business and requires professional services as described herein;

WHEREAS, Service Provider Name: represents that it has the experience and personnel necessary to perform such services; and

WHEREAS, the parties desire to set forth the identity of the business principals and related representations and terms governing the provision of services;

BUSINESS INFORMATION

BUSINESS PRINCIPALS

List all natural persons who are principals, officers, directors, or partners having direct managerial or ownership interest of ten percent (10%) or more in the Business. Each principal must certify accuracy of the information below.

Principal 1

Phone:

Email:

Date of Birth:

ID Type:

 I certify under penalty of perjury that the information provided for Principal 1 is true, complete, and accurate to the best of my knowledge.

Principal 2

Phone:

Email:

Date of Birth:

ID Type:

 I certify under penalty of perjury that the information provided for Principal 2 is true, complete, and accurate to the best of my knowledge.

If additional principals exist, attach a signed addendum or indicate: . Attachment description:

SCOPE OF WORK

The Service Provider shall perform the services described below in a professional manner in accordance with industry standards. Services shall include tasks, deliverables, and timelines as set forth.

PAYMENT TERMS

Late Payment: A late fee of per month shall accrue on overdue amounts, and an administrative fee of may apply. Interest and collection costs will be recoverable to the extent permitted by law.

TERM AND TERMINATION

Term Commencement:   Term End:

Either party may terminate this Agreement for convenience with prior written notice of days. Termination for material breach is permitted immediately if the breaching party fails to cure within days after written notice. Termination does not relieve either party of obligations accrued prior to termination.

CONFIDENTIALITY

Each party shall maintain as confidential all nonpublic information disclosed by the other party that is designated confidential or that reasonably should be understood to be confidential given the nature of the information and the circumstances of disclosure ("Confidential Information"). Confidential Information shall not include information that (a) is or becomes generally available to the public other than through a breach of this Agreement; (b) was known to the receiving party prior to disclosure; (c) is rightfully received from a third party without restriction; or (d) is independently developed without use of the disclosing party’s Confidential Information.

The receiving party may disclose Confidential Information to its employees, agents, or subcontractors who have a need to know and who are bound by confidentiality obligations no less protective than those herein. The obligations in this section shall survive termination or expiration of this Agreement for a period of three (3) years, except that trade secrets shall remain protected for as long as permitted by law.

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. Any dispute arising under or in connection with this Agreement shall be resolved in the state or federal courts located within that state, and the parties submit to the exclusive jurisdiction of such courts.

ENTIRE AGREEMENT

This Agreement, including all attachments and the Business Principals Page, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, proposals, and communications, whether oral or written. Any amendment or waiver must be in writing and signed by authorized representatives of both parties.

ACKNOWLEDGMENTS AND CERTIFICATIONS

Each principal listed herein acknowledges that the party for which they act has authorized the disclosure of their name and the other information provided. Each principal certifies that the information is true and accurate and that they have the authority to bind the entity or to act in the listed capacity.

Client:

By:

Date:

Service Provider:

By:

Date:

Enter text✕

What the Business Principals Page Is and When it’s Used

A Business Principals Page is a standardized record that lists a company’s key people—owners, officers, directors, and persons with significant control—used for vendor onboarding, banking, regulatory filings, and internal compliance. It consolidates legal names, titles, ownership percentages, tax identifiers, contact details, and signature blocks so recipients can verify authority and meet KYC, AML, or contractual requirements without separate paperwork.

Why a Clear Business Principals Page Matters

A complete, accurate principals page reduces onboarding delays, supports regulatory compliance (ESIGN/UETA for electronic signatures), and creates an auditable record of who may bind the business for contracts or filings.

Why a Clear Business Principals Page Matters

Who Typically Prepares and Reviews This Page

Accuracy matters for each of these reviewers because incorrect principal data can trigger account holds, tax withholding, or audit inquiries.

  • Commercial banks and payment processors performing KYC and account opening checks
  • Human resources and payroll teams for tax and benefits setup
  • Vendor management and procurement teams during supplier onboarding

Core Elements to Include on a Professional Principals Page

A well-structured principals page groups identity, authority, and contact details so recipients can quickly verify decision-makers and comply with regulatory checks.

Legal Business Name

Exact registered entity name, including DBAs and suffixes.

Employer ID (EIN)

EIN or tax identifier used for tax reporting and banking.

Principal Names

Full legal names of officers, directors, and owners with titles.

Ownership Percentage

Specify percent ownership for each individual, where applicable.

Contact Details

Street address, business email, and daytime phone number.

Signature Blocks

Signed name, printed name, title, and execution date for each principal.

Step-by-Step: Completing a Business Principals Page

Follow these sequential steps to prepare an accurate principals page suitable for eSignature and regulatory use.

  • 01
    Gather Documents: Collect formation documents, EIN letter, and government IDs for each principal.
  • 02
    Enter Core Data: Populate legal name, title, ownership percentage, and contact details.
  • 03
    Verify Identifiers: Confirm EIN/TIN and match names to IDs to avoid backup withholding.
  • 04
    Sign and Timestamp: Obtain signatures and dates; include witness/notary if required by jurisdiction.

Configuring an Online Principals Page Workflow

Set up a repeatable workflow so updates, approvals, and eSignatures proceed consistently and leave an audit trail.

Field Configuration
Template Upload Upload a PDF/DOCX template to reuse for each entity.
Add Fillable Fields Place name, title, percent, TIN, signature, and date fields.
Assign Signers Map principals and reviewers to specific fields in order.
Authentication Select email, SMS code, or stronger KBA where required.

Where to Send or File the Completed Page

Determine the destination based on the purpose—banking, vendor onboarding, government filing, or internal records—and follow the recipient’s preferred submission channel.

  • Banking & Accounts: Provide to the bank during account opening or compliance review.
  • Vendor Onboarding: Upload to procurement portals or attach to supplier registration forms.
  • Regulatory Agencies: File with licensing boards or regulatory filings as instructed.
  • Internal Records: Store in corporate minute books, secretary files, or secure cloud.

Digital Submission and eSignature Considerations

Choose a platform that supports audit trails, encryption (TLS/AES), and exportable signed PDFs for retention and audit purposes.

  • File Formats: PDF, DOCX, and Excel supported.
  • Authentication: Email, SMS, KBA, or SSO options.
  • Integrations: Connectors for Salesforce, NetSuite, Google Workspace.

Representative eSignature Pricing and Feature Comparison

This neutral comparison lists starting prices and common capabilities among leading eSignature vendors with signNow presented first for clarity.

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 Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes (Business Premium) Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Essential Data Fields to Collect

Legal Name: Full registered name
Identifier: EIN or TIN
Principal Role: Officer or owner title
Ownership: Percent held
Contact: Email and phone
Signature: Signed name and date

Who Is Typically Authorized to Sign

CEO / President

The chief executive or president typically signs for routine contracts and account authorizations. Confirm delegated authority if the company requires board or secretary authorization for binding commitments.

Corporate Secretary / Registered Agent

Corporate secretaries or registered agents often attest to ownership data and provide certified copies of resolutions or minutes that demonstrate delegated signing power when requested by banks or regulators.

Common Errors to Avoid When Preparing the Page

  • Mismatched names between ID and form that delay verification and raise compliance flags.
  • Omitting ownership percentages or using vague language that prevents determining beneficial owners.
  • Failing to provide EIN/TIN or entering incorrect digits, which can trigger backup withholding.
  • Missing signatures or dates, especially when a notary or witness is required by recipients.

Risks and Potential Penalties for Incorrect Information

Backup Withholding: 24% if TIN missing
1099 Filing Penalties: $60–$330 per form
Intentional Disregard: $660+ per form
I-9 Violations: $281–$2,789 per violation
Account Holds: Banks may freeze accounts pending verification
Contract Challenges: Disputes over authority may void agreements

Typical Timelines and Update Expectations

Observe recipient-specific deadlines and internal review cycles to keep principals information current and compliant.

Provide on Request:

W-9-style principals data should be furnished when requested by payers.

Bank Verification:

Allow 3–10 business days for bank KYC checks.

Update Window:

Submit changes within 30 days of any principal change.

Annual Review:

Recommend yearly verification of principal data for controls.

Record Retention:

Retain completed pages per retention schedule and legal requirements.

How Organizations Use a Principals Page in Practice

Real-world examples show how standardized principals pages reduce friction in onboarding and regulatory reviews.

Optica Ventures LLC

Optica centralized principal data for investor reporting

  • Reduced back-and-forth by consolidating signatures
  • The change cut onboarding time and created a reliable audit trail for compliance reviews.

Martin Properties

Martin Properties used an online principals page for leasing and banking

  • Signatures were collected remotely on mobile devices
  • The firm processed documents faster while maintaining compliance with notarization and recordkeeping rules.

Frequently Asked Questions and Troubleshooting

[INTRO] Practical answers to common questions about validity, signatures, notarization, and updating principals information.


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