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Business Statement of Fact

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BUSINESS STATEMENT OF FACT

RECITALS

WHEREAS, Business Name: (the "Company") is duly organized and validly existing under the laws of State of Formation: and has Entity Number or EIN: .

WHEREAS, the Company maintains its principal office at Principal Office: and conducts business under Trade Name / DBA: .

WHEREAS, the undersigned authorized representative makes this Statement of Fact to attest to the accuracy of the facts set forth below for use in administrative, financial, or third-party review and for inclusion in the Company's records.

IDENTIFICATION OF ENTITY

Corporation LLC Partnership Sole Proprietorship Other:

STATEMENT OF FACTS

1. The Company's current business address is: .

2. The Company is in Active Good Standing: Yes No — If no, explain in Detailed Facts.

3. The following persons are authorized signatories or officers of the Company:

Attachments provided with this Statement (check all that apply):

Certificate of Formation / Articles of Incorporation Operating Agreement / Bylaws Corporate/Member Resolution authorizing this Statement Other:

ATTESTATION AND CERTIFICATION

The undersigned, being an officer or other authorized representative of the Company, hereby certifies that the facts set forth in this Business Statement of Fact and any attachments are true, correct, and complete to the best of the undersigned's knowledge and belief. The undersigned further certifies that they are authorized to execute this Statement on behalf of the Company and that the Company will rely on this Statement for official and business purposes.

The undersigned acknowledges that any material misstatement or omission in this Statement may subject the Company and the undersigned to civil or criminal penalties under applicable law, and the undersigned declares under penalty of perjury under the laws of Governing State: that the foregoing is true and correct.

MISCELLANEOUS

Governing Law: This Statement shall be governed by and construed in accordance with the laws of the state named above without regard to its choice-of-law principles.

Severability: If any provision of this Statement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

Entire Statement: This document, together with attachments referenced herein, constitutes the entire Statement of Fact between the Company and any recipient relying upon it concerning the facts herein and supersedes all prior statements, whether written or oral, regarding those facts.

Authorized Representative:

Title:

Company Name (if different):

Signature:

Date:

Contact Phone:

Contact Email:

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What a Business Statement of Fact Is and when it's used

A Business Statement of Fact is a written declaration, typically signed by an authorized company representative, that sets out specific factual information about a business entity or transaction. Common uses include confirming entity status, ownership, legal addresses, tax identification, absence or existence of liens, or facts needed for closing, vendor onboarding, or compliance reviews. The document functions as a factual affidavit for third parties; accuracy, clear identification of the declarant, and proper execution are essential to avoid disputes or downstream withholding and reporting obligations.

Why a clear Business Statement of Fact matters

A concise, correctly executed statement reduces delays in onboarding, closings, and regulatory reviews while establishing a written record of the asserted facts for third parties and auditors.

Why a clear Business Statement of Fact matters

Who commonly completes this document

Organizations and third parties request Business Statements of Fact when a signed, dated affirmation of specific business facts is required for a commercial, financial, or legal process.

  • Real estate managers and title companies who need entity facts for closings and title clearance.
  • Banks and lenders during account opening, lending, or collateral verification processes.
  • Corporate legal or HR teams certifying authority, tax classification, or vendor eligibility.

The signer should be someone with legal authority to bind the entity; supporting documents are often requested to corroborate the declared facts.

Core components that make a Business Statement of Fact reliable

A professional Business Statement of Fact is structured to be self-contained, clearly identifying parties, the facts asserted, the authority of the signer, and execution details so recipients can rely on it without separate correspondence.

Clear identity

Full legal business name, any DBAs, entity type, and jurisdiction of formation so the declarant is unambiguous to third parties.

Precise facts

Each asserted fact is short, numbered, and limited to verifiable statements (dates, counts, statuses) rather than legal conclusions or opinions.

Authority clause

Statement of the signer's position and basis for signing (e.g., managing member, corporate officer, or holder of delegated authority).

Supporting references

Attach or reference corroborating documents such as formation certificates, EIN confirmation, lien searches, or board resolutions.

Execution details

Signature block with printed name, title, date, and, if required, notary acknowledgement or witness lines.

Retention note

Recordkeeping instruction or retention period to clarify how long the signed statement will be preserved.

Step-by-step: complete and deliver a Business Statement of Fact

Follow a simple sequence to prepare, validate, and distribute a Business Statement of Fact that will be accepted by third parties and regulators.

  • 01
    Draft facts: List only verifiable facts; number each item for clarity.
  • 02
    Gather proof: Attach articles of formation, EIN confirmation, or board minutes as evidence.
  • 03
    Obtain authorization: Ensure the signer has documented authority to sign for the entity.
  • 04
    Execute and distribute: Sign, notarize if needed, and send certified copy to the requesting party.

How execution and routing typically flow

Most workflows follow a predictable path from preparation to final retention; understanding each step reduces processing time and follow-up requests.

  • Preparation: Draft statement, attach supporting documents.
  • Authorization: Confirm signer authority and corporate approval.
  • Execution: Sign, date, and notarize if required.
  • Delivery: Send to requester and retain an executed copy.

Typical digital workflow settings for online completion

When using an eSignature platform, configure field-level requirements and authentication to match the recipient’s risk tolerance and any regulatory needs.

Field | Configuration Field Type | Required
Signature Field Required | Signer must complete
Date Field MM/DD/YYYY | Auto-fill option
Attachment Field Yes | Upload supporting doc
Authentication Email or SMS | Choose per risk level

Delivery channels and technical requirements

Choose delivery and authentication methods that match the requesting party’s requirements and the document’s sensitivity.

  • Email delivery: Common, low-friction option
  • Secure portal: Preferred for regulated data
  • RON or notary: Use if notarization is required

Ensure the selected platform supports required authentication, audit trails, and export formats to meet retention and evidentiary needs.

eSignature vendor pricing snapshot for executing Business Statements of Fact

Compare common pricing and compliance capabilities for electronic execution. signNow is listed first as the platform column; verify specific plan details with each vendor before purchase.

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

Security and compliance features to include in e-submission

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest
Audit Trail: Time-stamped actions and IP address logging
Access Controls: Role-based access and SSO/SAML
HIPAA BAA: Execute BAA if PHI is included
21 CFR Part 11: Comply when FDA-regulated records are required
Retention: Tamper-evident storage and exportability

Consequences and legal risks of incorrect or incomplete statements

False statement: Civil or criminal exposure
Wrong signatory: Transaction may be voided
Missing notarization: Third party may reject document
Tax reporting issues: Backup withholding or penalties
Retention failure: Noncompliance with regulatory audits
Incomplete proof: Delays and additional verification requests

Common mistakes to avoid when preparing the statement

  • Using informal or abbreviated business names that do not match formation records, causing verification failures and vendor onboarding delays.
  • Failing to indicate the signer’s authority or attach a corporate resolution, which prompts requests for additional proof and legal review.
  • Including opinions or conditional language instead of discrete, verifiable facts; recipients generally require concrete statements with supporting documentation.
  • Skipping notarization or witness steps when specifically requested by the counterparty, which can invalidate the statement for their purposes.

Timing and processing expectations

There is no universal filing deadline for a Business Statement of Fact; timing is set by the requesting party and transaction needs.

Upon request:

Provide immediately when requested for onboarding or closing

Before closing:

Deliver at least 48–72 hours before scheduled closings

For tax purposes:

Submit when required to avoid backup withholding or delays

Notarization window:

Complete notarization close to execution date to ensure validity

Record retention:

Store executed copy per retention policy and legal baselines

Representative examples of how organizations use this statement

Real-world examples illustrate when a Business Statement of Fact resolves common verification or closing needs.

Optica Ventures (Brian Fitzgibbons)

A venture firm used a concise statement to confirm entity ownership and authorized signers for fund transfers.

  • The document reduced follow-up by standardizing required facts.
  • Attachments included formation documents and an officer-signed corporate resolution to satisfy banking and investor compliance requirements.

Martin Properties (Tim Martin)

A property manager used the statement to confirm leasing authority and tax status ahead of closing.

  • The clear, numbered facts expedited title checks.
  • The executed statement, notarized and emailed to the title company, avoided a 48-hour delay during the escrow process.

Typical signers and their authority

Chief Executive Officer

A CEO often signs factual statements regarding corporate status and transactions when board approval is not specifically required; attach board minutes if the signature is outside ordinary course authority.

Corporate Officer or General Counsel

An officer or GC signing on behalf of the entity should reference the corporate resolution or bylaws authorizing the signer, which reduces downstream challenges to the document’s validity.

Frequently asked questions about Business Statements of Fact

Answers to common questions about validity, signing authority, electronic execution, notarization, and recordkeeping for Business Statements of Fact.


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