Can the TES be signed electronically?

Yes. Electronic signatures are generally enforceable under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted; confirm that the transaction is not an exception such as wills or certain court filings.

When is notarization required?

Notarization depends on the instrument and jurisdiction; deeds and some acknowledgements typically require notarization, while other contracts do not. Check the state recording or notary statutes before execution.

Is remote online notarization acceptable?

Many states permit RON with identity proofing and audio‑visual recording; verify state rules (RON status varies) and preserve required recordings and logs.

How do I correct a signed TES?

If a correction is needed, prepare an amendment or correction addendum and have all parties sign the amendment; avoid altering executed originals without clear reexecution and audit evidence.

Who should sign for a company?

A corporate officer or authorized agent with capacity to bind the entity should sign; obtain supporting documentation like board resolutions if authority is not clear.

How long must I keep the TES?

Retention depends on context: at least three years for IRS records (IRC §6501(a)), six years for HIPAA‑related records (45 CFR §164.530(j)), and longer if state law or contract requires it.

Electronic Signature
Templates
Miscellaneous
Business Transaction TES

Business Transaction TES

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BUSINESS TRANSACTION TES

Parties

Party A Name: Party A Address: Party B Name: Party B Address:

Recitals

WHEREAS, Party A is engaged in the business of providing certain goods and services and possesses expertise and resources relevant to the transaction described herein; and

WHEREAS, Party B desires to procure from Party A, and Party A agrees to provide, the goods and/or services described in this Agreement on the terms and conditions set forth below; and

NOW, THEREFORE, in consideration of the mutual covenants herein and other good and valuable consideration, the parties agree as follows effective as of Effective Date:

Scope of Work

Party A shall perform the work, provide the goods, and deliver the services described below. The parties acknowledge that the description must be sufficiently detailed to define performance obligations, deliverables, milestones, and acceptance criteria.

Detailed Scope of Work (describe deliverables, milestones, and acceptance criteria):

Payment Terms

In consideration for the services and goods to be provided by Party A, Party B shall pay the amounts and according to the schedule set forth below. All sums are payable in United States dollars unless otherwise agreed in writing.

Total Contract Amount: Payment Schedule (include amounts, due dates, and milestones): Late Payment Fee: Billing / Invoice Address and Instructions:

Term and Termination

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

Either party may terminate this Agreement for convenience upon written notice to the other party delivered at least days prior to the intended termination date. Termination for material breach is effective upon written notice if the breaching party fails to cure such breach within thirty (30) days following receipt of written notice specifying the breach.

Confidentiality

Each party acknowledges that in the course of performance it may receive Confidential Information of the other party. For the purposes of this Agreement, "Confidential Information" means non-public information disclosed in any form that is identified as confidential or that reasonably should be understood to be confidential given the nature of the information and the circumstances of disclosure.

The receiving party shall: (a) hold Confidential Information in strict confidence; (b) not disclose such Confidential Information to any third party except as expressly permitted by this Agreement; and (c) use Confidential Information solely for performance of obligations under this Agreement. The obligation of confidentiality shall survive termination of this Agreement for a period of three (3) years, except with respect to trade secrets which shall be protected for as long as they qualify as trade secrets under applicable law.

Confidentiality Scope:

Representations and Warranties; Indemnity

Each party represents and warrants that it has the power and authority to enter into this Agreement and to perform its obligations. Party A represents that the services will be provided in a professional and workmanlike manner consistent with industry standards. To the extent permitted by law, each party agrees to indemnify, defend and hold harmless the other party from third-party claims arising out of its gross negligence, willful misconduct, or material breach of this Agreement.

Governing Law

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

Entire Agreement

This Agreement, including any exhibits and attachments expressly incorporated herein, constitutes the entire agreement between the parties with respect to the subject matter and supersedes all prior and contemporaneous agreements, proposals, and communications, whether written or oral. Any amendment or modification must be in writing and signed by authorized representatives of both parties.

Miscellaneous

If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect. No delay or failure to exercise any right shall constitute a waiver. Notices under this Agreement must be in writing and delivered to the addresses provided in the Parties section unless otherwise updated in writing.

Additional Provisions or Amendments (optional):

Party A Printed Name:

By:

Date:

Party B Printed Name:

By:

Date:

What the Business Transaction TES Is and When it Applies

The Business Transaction TES is a standardized transactional statement used to record the material terms, parties, and execution details of a commercial transfer or agreement between business entities. It collects identifiers for buyer, seller, and any agents; lists consideration, primary obligations, and effective date; and documents signatures, witness or notary acknowledgements, and supporting exhibits. When executed correctly it creates a contemporaneous written record of the transaction suitable for internal audit, regulatory review, or filing where a formal instrument is required under state law.

Why a Business Transaction TES Matters for Legal Certainty

A clear TES reduces ambiguity about who agreed to what, when obligations begin, and how the transfer will be performed, supporting enforceability under ESIGN and UETA and simplifying downstream reporting and retention.

Typical Parties Who Prepare or Sign a Business Transaction TES

Common users range from corporate counsel and finance teams to brokers and contracting officers who need a concise execution record.

In-house counsel and compliance teams verifying legal language and signatory authority
Finance and accounting staff documenting consideration, payment terms, and tax reporting
Brokers, agents, and external counsel coordinating execution and recordkeeping

The TES supports internal controls and audit trails for parties responsible for compliance, tax reporting, and contract performance.

Core Elements to Include in a Professional TES

A complete TES groups critical information so each obligation and evidence element is captured: parties, consideration, effective date, description of transferred assets or services, signature blocks, and references to attachments and prior agreements.

Parties

Legal names, entity type, and representative with title to confirm signing authority and attribution for enforcement.

Consideration

Precise monetary amounts or detailed description of goods/services exchanged; avoid vague phrasing that complicates valuation.

Effective Date

Clear MM/DD/YYYY effective date that starts covenants, deadlines, and statute of limitations periods.

Scope of Transaction

Concise summary of assets, rights, or obligations transferred, plus references to attached schedules or exhibits.

Execution Details

Signature blocks for each party, signer titles, and any witness or notary acknowledgements required by law.

Supporting Documentation

List of exhibits, certificates, licenses, or consents that form part of the transaction record.

Stepwise Procedure to Complete the Business Transaction TES

Follow these sequential steps to prepare, verify, and finalize the TES so it is accurate, attributable, and compliant with applicable rules.

01

Prepare Draft: Populate parties, consideration, and exhibits in a single working draft.
02

Internal Review: Legal and finance review for authority, tax, and regulatory impacts.
03

Execution Setup: Place signature fields, specify witness/notary requirements, and choose eSignature authentication.
04

Finalize & Archive: Collect signatures, record audit trail, and store the executed TES per retention policy.

How to Configure an Online TES Workflow

Configure these settings when using an eSignature platform to reduce signer friction and preserve admissible evidence.

Field	Configuration
Authentication	Email link or SMS code; choose stronger KBA or SSO for high-risk deals.
Signing Order	Sequential or parallel routing depending on required approvals.
Conditional Fields	Use conditional logic to show fields only when relevant to reduce errors.
Audit Trail	Enable timestamp, IP capture, and access logs for evidentiary support.

Typical eSigning Flow for a Business Transaction TES

A consistent online flow helps ensure signatures are attributable and records are reproducible for audit or enforcement.

Upload Document: Upload the TES and all exhibits as a single package.
Prepare Fields: Place signature, date, and required initial fields.
Send to Signers: Assign recipient order and send via secure link.
Collect Evidence: System captures timestamps, IP, and completion certificate.

Key Platform Capabilities to Support TES Execution

Choose a platform that supports required authentication, audit trails, and integrations with your systems.

Authentication Options: Email, SMS, KBA, or SSO for stronger signer verification.
Integrations: Connectors for Salesforce, NetSuite, Google Workspace, and Microsoft 365 ease recordkeeping.
Audit & Compliance: Tamper-evident audit trail and exportable certificate of completion.

Security and Compliance Features to Verify

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest

Access Controls: Role-based permissions

Audit Trail: Timestamped action log

BAA Availability: BAA required for HIPAA workflows

Certifications: SOC 2 Type II, ISO 27001

Authentication: 2FA and SSO options

Principal Risks and Legal Consequences of Errors

Tax Reporting: IRC §6721 penalties

I-9 Errors: 8 CFR §274a.2 fines

Invalid Signatures: ESIGN/UETA challenges

Notary Defects: Potential title or deed rejection

HIPAA Breach: HIPAA enforcement actions

Contract Disputes: Damages and rescission risk

Real Use Examples Showing TES in Practice

These concise case summaries illustrate how organizations use a TES to speed execution and preserve compliance.

Optica Ventures — COO

Their team adopted a structured TES for investor transactions to centralize terms and signatures.

The standardized form reduced back‑and‑forth on deal points.
The interface was simple for internal teams and clients, improving turnaround while maintaining a clear audit trail suitable for later due diligence and investor reporting.

Martin Properties — Founder

A small real estate firm used the TES for lease and closing summaries to avoid missing exhibits.

Attachments were enforced before signature.
Processing and executing documents online kept transactions moving and preserved compliance across mobile and offline signer scenarios, improving closing timelines.

Practical Quality Controls for an Accurate TES

Implement these practices to reduce errors, speed review, and ensure the TES is admissible and useful for audits.

Verify legal names and signatory authority

Confirm exact legal entity names against formation documents and obtain officer certificates or board resolutions where an entity signs; mismatches can delay enforcement or trigger withholding.

Attach all referenced exhibits before sending

Ensure every schedule and certificate cited in the TES is appended and accessible so signers can review the full transaction package prior to execution.

Select appropriate signer authentication

Match the authentication strength to transaction risk—use SSO or KBA for high‑value deals and preserve evidence of identity for potential disputes.

Record a complete audit trail

Capture timestamps, IP addresses, signer emails, and document version history and export a certificate of completion for long‑term storage and evidence.

Common Deadlines and Timing Considerations

Track execution, filing, and reporting deadlines tied to the TES to avoid fines or missed obligations.

Execution Deadline:

Specify the last date for signing to fix obligations and trigger payment or performance deadlines.

Filing with State:

File required instruments (deeds, UCC filings) promptly; state fees and timelines vary.

Tax Reporting:

Provide information returns to recipients per IRS timelines to avoid penalties.

Record Retention Trigger:

Retention periods begin on effective date or final payment date, depending on document terms.

Notary or RON Scheduling:

Allow time for remote online notarization or in‑person notary windows if required by jurisdiction.

Sample eSignature Vendor Comparison for Business Transaction TES Workflows

Basic pricing and feature differences among common eSignature vendors; choose based on compliance needs, bulk volume, and authentication options.

	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	Yes, 7-day 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

Frequently Asked Questions About Executing a Business Transaction TES

Answers to common execution and compliance questions when preparing, signing, notarizing, and storing a TES.

Need help? Contact support

Can the TES be signed electronically?
Yes. Electronic signatures are generally enforceable under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted; confirm that the transaction is not an exception such as wills or certain court filings.
When is notarization required?
Notarization depends on the instrument and jurisdiction; deeds and some acknowledgements typically require notarization, while other contracts do not. Check the state recording or notary statutes before execution.
Is remote online notarization acceptable?
Many states permit RON with identity proofing and audio‑visual recording; verify state rules (RON status varies) and preserve required recordings and logs.
How do I correct a signed TES?
If a correction is needed, prepare an amendment or correction addendum and have all parties sign the amendment; avoid altering executed originals without clear reexecution and audit evidence.
Who should sign for a company?
A corporate officer or authorized agent with capacity to bind the entity should sign; obtain supporting documentation like board resolutions if authority is not clear.
How long must I keep the TES?
Retention depends on context: at least three years for IRS records (IRC §6501(a)), six years for HIPAA‑related records (45 CFR §164.530(j)), and longer if state law or contract requires it.

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