Is this document legally binding?

A Business Statement of Values is typically policy-oriented and not a contract by itself; however, portions can be incorporated into agreements and thereby become legally binding when referenced in contracts or procurement documents.

Can we collect signatures electronically?

Yes. Electronic signatures are valid under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted; ensure intent, consent, attribution, and retention are demonstrable to satisfy legal validity.

Do we need a notary or witnesses?

Not usually for an internal values statement. If the document is used as an attestation or appended to legal agreements, notarization or witnesses may be required depending on state and use; check state rules for deeds and powers of attorney as analogues.

How long should we keep signed copies?

Maintain the signed version for the term of the policy plus a retention period consistent with corporate records practice; follow federal rules where applicable (IRS 3 years) and HIPAA 6 years for PHI.

What if we change the statement later?

Record the new effective date and retain prior signed versions. Maintain version control and distribute updates with training and a recorded approval process to reduce disputes.

Who should approve the final document?

Approval typically requires an authorized executive signature and a recorded date; for high-stakes policy changes, board-level or committee approval is recommended to demonstrate oversight.

Electronic Signature
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Business Statement of Values

Business Statement of Values

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

BUSINESS STATEMENT OF VALUES

Company Name: Effective Date:

RECITALS

WHEREAS, the Company acknowledges that a defined and publicly stated set of core values is essential to guide decision-making, employee conduct, stakeholder relations, and long-term strategy; and

WHEREAS, the parties intend this Statement of Values to set forth binding organizational commitments to ethical conduct, nondiscrimination, environmental stewardship, and transparent governance as applied to the Company's operations and contractual relationships; and

WHEREAS, the parties wish to document operational obligations, implementation mechanisms, and remedies related to adherence to those values in connection with performance of services and business relationships.

STATEMENT OF VALUES

The Company formally adopts the following core values and commitments. Each value listed below shall govern the Company's policies, contracts, and daily operations. The Company certifies that it will implement policies sufficient to make these commitments effective and enforceable.

Core Values (select to indicate formal adoption)

Integrity — Uphold honest, fair, and lawful conduct in all business dealings.
Respect & Inclusion — Maintain a workplace free from unlawful discrimination and harassment.
Environmental Stewardship — Minimize the environmental footprint of operations and suppliers.
Transparency & Accountability — Report material matters accurately and timely to stakeholders.
Data Privacy & Security — Protect personal and confidential information consistent with applicable laws.

Describe how these values will be articulated to stakeholders

SCOPE OF WORK

The Company will implement initiatives, policies, and procedures to advance the adopted values. The specific activities, deliverables, and responsibilities are set forth below.

Detailed Scope of Work

IMPLEMENTATION AND GOVERNANCE

The Company will designate an officer responsible for overseeing the implementation of this Statement of Values, maintaining records of compliance, and producing periodic reports to the board or governance body.

Responsible Officer Name Reporting Frequency

PAYMENT TERMS (IF APPLICABLE)

If the implementation of the values program is performed by a third-party provider under contract with the Company, the following payment terms govern compensation for services described in the Scope of Work.

Total Payment Amount Payment Schedule Late Payment Fee Invoice Mailing/Remittance Address

TERM AND TERMINATION

This Statement of Values commences on the Start Date below and continues until the End Date unless earlier terminated in accordance with this section.

Start Date: End Date: Termination Notice Period (days):

Either party may terminate for material breach that is not cured within the notice period set forth above. Termination shall not relieve either party of accrued obligations or obligations that by their nature survive termination.

CONFIDENTIALITY

All non-public information disclosed in connection with the implementation of this Statement of Values, including compliance reports, internal assessments, and supplier evaluations, shall be treated as Confidential Information except where disclosure is required by law. The receiving party shall protect Confidential Information with at least the same degree of care it uses to protect its own confidential materials, but no less than reasonable care. Confidentiality obligations survive termination for a period of three (3) years, or longer if required by applicable law or contractual obligations to third parties.

GOVERNING LAW

This Statement of Values shall be governed by and construed in accordance with the laws of the State of , without regard to its conflict of laws principles.

ENTIRE AGREEMENT

This Statement of Values, together with any attached Scope of Work and attachments executed by the parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, representations, or agreements, whether written or oral. Any amendment must be in writing and signed by authorized representatives of both parties.

AMENDMENT; REMEDIES

No waiver or amendment of any provision of this Statement will be effective unless in writing and signed by the party against whom enforcement is sought. Remedies provided herein are cumulative and in addition to any other remedies available at law or in equity.

ACKNOWLEDGEMENT

The undersigned representatives certify that they are authorized to bind their respective parties and that the party has adopted and will comply with the commitments set forth in this Statement of Values.

Party A (Company)

Printed Name:

By:

Date:

Party B (Counterparty)

Printed Name:

By:

Date:

What a Business Statement of Values Is and Why It Matters

A Business Statement of Values is a formal written statement outlining an organization's core ethical principles, commitments to stakeholders, and expectations for conduct. It typically covers integrity, compliance, diversity, customer treatment, and environmental or social responsibilities. The document helps align employees, contractors, and leadership around consistent standards and serves as a reference for decision-making, training, and vendor relationships. While not usually a legally required filing, it can influence contract terms, compliance programs, and corporate governance reviews when cited by boards, auditors, regulators, or external partners.

Core Benefits of Adopting a Business Statement of Values

A clear Statement of Values promotes consistent decision-making, supports regulatory compliance programs, and signals governance priorities to employees and partners.

Who Typically Prepares and Uses This Document

The document is a practical tool for internal culture-building and external stakeholder communication; review annually or when business priorities change.

Executives and boards — approve policy language and align values with strategic goals and governance responsibilities.
HR and compliance teams — integrate values into hiring, onboarding, training, and disciplinary processes.
Legal and procurement — include values references in supplier contracts and due diligence materials.

Primary Signatories and Responsible Parties

CEO

As principal executive, the CEO typically endorses the Statement of Values and communicates expectations across the organization; signature signals leadership commitment and supports enforcement.

Chief Compliance Officer

The compliance officer drafts operational language, ensures alignment with regulations and corporate policy, and oversees updates, training, and monitoring tied to the statement.

Essential Sections to Include in a Professional Statement of Values

A comprehensive Business Statement of Values covers governance, behavior expectations, compliance commitments, and practical implementation measures.

Mission and Scope

Describe organizational purpose and specify which entities, employees, and contractors the statement covers to avoid ambiguity.

Core Principles

List concise, actionable principles such as integrity, respect, transparency, and safety, with brief explanations of acceptable behavior.

Compliance Commitments

State adherence to applicable laws and standards (for example ESIGN and UETA in electronic contexts) and reference relevant policies.

Reporting and Accountability

Explain how concerns are reported, who investigates, and the consequences for breaches, including escalation paths.

Implementation Guidance

Summarize training, performance measurement, and how the statement is incorporated into contracts and supplier standards.

Review Cycle

Specify ownership for periodic review, effective date, and a versioning approach for future updates.

Step-by-Step: Prepare and Adopt Your Statement of Values

Follow a structured review and approval workflow to ensure stakeholder buy-in and legal alignment.

01

Draft Content: Collect input from legal, HR, and compliance stakeholders.
02

Internal Review: Circulate to leadership and subject-matter experts for revisions.
03

Board or Executive Approval: Obtain formal endorsement and a dated signature.
04

Publish and Train: Distribute to staff and incorporate into onboarding materials.

Typical Routing and Adoption Workflow

A typical electronic adoption workflow reduces friction and preserves an auditable record of who approved and when.

Create Document: Draft the statement in editable format (DOCX or PDF).
Assign Reviewers: Add legal, HR, and executive reviewers in sequence.
Collect Signatures: Use eSignature tools to capture approval and timestamps.
Archive Final Version: Store signed PDF and audit trail for retention and retrieval.

Online Configuration Checklist for Digital Completion

Configure fields and authentication settings to match organizational requirements before sending for signature.

Field	Configuration
Signature Block	Required signature and date fields for each approver
Authentication	Email link or SMS code; choose stronger methods for external signers
Order	Set sequential or parallel signing per governance needs
Retention	Enable export of signed PDF and audit trail

Digital Signing and Technical Requirements

Choose platform settings that match your authentication needs and retention policy, and verify HIPAA or industry addenda where required.

Integrations: Connectors for Salesforce, NetSuite, Microsoft 365, Google Workspace, and Box ease distribution.
File Formats: Support for PDF, DOCX, and HTML preserves original formatting and metadata.
Security: Platform should provide TLS in transit, AES-256 at rest, and detailed audit logs.

Key Data and Security Elements to Document

Encryption: Use TLS 1.2/1.3 in transit and AES-256 at rest.

Audit Trail: Capture timestamps, IP addresses, and signer actions.

Access Controls: Role-based access limits edits and viewing rights.

Compliance: Document ESIGN, UETA, SOC 2, and ISO 27001 adherence.

HIPAA BAA: Execute a BAA when handling PHI in healthcare contexts.

Retention Policy: Define how long signed records and logs are retained.

Comparing Common eSignature Options for This Document

Basic pricing and capability differences can affect total cost and compliance fit; signNow appears 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 (no card)	No	No	Yes, limited	Yes, limited
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Real-World Examples of Use

Organizations adapt a Statement of Values to practical workflows including onboarding, vendor contracts, and board approvals.

Optica Ventures LLC

Their COO emphasized clarity in document language to align teams quickly.

The statement was embedded in onboarding.
The result was consistent behavior guidance across projects and a single reference for compliance training and vendor expectations, reducing ambiguity in cross-functional decision-making.

Fertility Centers of Illinois

Leadership used an online signing workflow to finalize the statement.

Mobile signing enabled remote approvals.
Having a digitally signed Statement of Values improved recordkeeping and allowed rapid distribution to clinicians and staff while preserving audit trails required for accreditation and internal review.

Common Pitfalls When Preparing a Statement of Values

Vague language — imprecise terms lead to inconsistent enforcement and reduced utility for HR and compliance teams.
Missing approval authority — lack of a named approver or dated signature creates uncertainty for implementation.
Poor distribution — failing to train staff or embed the statement in onboarding diminishes its practical impact.
Ignoring retention rules — not preserving signed records and audit trails can complicate future audits or disputes.

Risks if the Statement Is Used Incorrectly or Left Unsupported

Contract Risk: Unclear scope may create unintended contractual obligations.

Regulatory Risk: Failure to enforce policies can trigger compliance investigations.

Reputational Harm: Public inconsistency between practice and statement damages trust.

Recordkeeping Exposure: Missing audit trails complicate internal and external reviews.

Notarization Errors: Incorrect notary or witness procedures can reduce evidentiary value.

Legal Costs: Remediation and counsel fees increase when disputes arise.

Practical Tips for Accurate and Efficient Completion

Follow consistent drafting, approval, and distribution practices to maximize adoption and reduce legal friction.

Use precise language

Draft short, clear definitions of each core value to avoid interpretation disputes and ensure consistent application in policies and training.

Record approvals

Capture dated signatures, titles, and version numbers in the signed document to support governance and future audits.

Integrate training

Embed the statement into onboarding and annual training cycles so employees understand expectations and reporting mechanisms.

Preserve audit trails

Keep signed PDFs and platform audit logs to document who approved what and when for internal reviews and regulator inquiries.

Typical Timelines and Expectations for Adoption

Timelines vary with organizational size and governance review cycles; set realistic dates for drafting, review, and roll-out.

Draft Completion:

2–4 weeks depending on stakeholder availability

Review Cycle:

1–3 weeks for legal and HR review

Executive Approval:

Dependent on board schedule; allow 2–6 weeks

Training Rollout:

1–2 months for organization-wide training

Annual Review:

Review and update at least yearly

How a Statement of Values Differs from Related Documents

Compare this document to mission statements and codes of conduct to clarify purpose and legal weight.

Document Type	Business Statement of Values	Code of Conduct
Purpose	values framework	detailed behavioral rules
Enforceability	guiding principles	often contractually referenced
Typical Detail	high-level	operational specifics
Use in Contracts	referenced occasionally	frequently referenced

Frequently Asked Questions

Answers to common questions about drafting, signing, and maintaining a Business Statement of Values.

Need help? Contact support

Is this document legally binding?
A Business Statement of Values is typically policy-oriented and not a contract by itself; however, portions can be incorporated into agreements and thereby become legally binding when referenced in contracts or procurement documents.
Can we collect signatures electronically?
Yes. Electronic signatures are valid under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted; ensure intent, consent, attribution, and retention are demonstrable to satisfy legal validity.
Do we need a notary or witnesses?
Not usually for an internal values statement. If the document is used as an attestation or appended to legal agreements, notarization or witnesses may be required depending on state and use; check state rules for deeds and powers of attorney as analogues.
How long should we keep signed copies?
Maintain the signed version for the term of the policy plus a retention period consistent with corporate records practice; follow federal rules where applicable (IRS 3 years) and HIPAA 6 years for PHI.
What if we change the statement later?
Record the new effective date and retain prior signed versions. Maintain version control and distribute updates with training and a recorded approval process to reduce disputes.
Who should approve the final document?
Approval typically requires an authorized executive signature and a recorded date; for high-stakes policy changes, board-level or committee approval is recommended to demonstrate oversight.

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