Are electronic signatures legally binding?

Yes. Under the federal ESIGN Act (15 U.S.C. ch. 96, 2000) and state UETA laws, electronic signatures are legally valid where not explicitly excluded, provided the transaction meets intent, consent, attribution, and record-retention requirements.

When is a consumer disclosure required?

For consumer-facing financial or healthcare records, the ESIGN Act requires a disclosure and a demonstration that the consumer can access records electronically before obtaining consent.

Do I need a notary for an FSOW?

Typically no, unless state law or the contract requires notarization for specific attachments; if notarization is required, follow state notary and RON rules and retain required journal or audio-video recordings.

What authentication level should I use?

Use email authentication for low-risk agreements; choose SMS, KBA, or advanced signer authentication for high-value contracts or regulated industries to strengthen attribution.

How do I correct signed errors?

If signatures are incorrect, execute an amendment or corrective document signed by all parties. Keep the original signed FSOW for audit and record-keeping alongside the amendment.

Which plan supports high-volume sending?

Platform plans vary: site-license models and enterprise tiers typically support high-volume or API-driven sending and advanced controls; verify plan details for bulk send and usage pricing.

Electronic Signature
Templates
Finance
Financial Statement of Work

Financial Statement of Work

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

FINANCIAL STATEMENT OF WORK

Parties and Effective Date

Effective Date:

Service Provider (Company or Individual) Service Provider Address Contact Name / Title Phone / Email

Client (Company or Individual) Client Address Contact Name / Title Phone / Email

1. Scope of Work

Service Provider will perform the financial services described below for Client in accordance with the terms of this Statement of Work. The services to be provided are limited to the following deliverables and tasks unless modified in writing by both parties.

Primary Services and Deliverables Assumptions and Exclusions

2. Deliverables, Milestones & Schedule

The following milestones define the delivery schedule and formal acceptance criteria for each deliverable.

Milestone / Deliverable	Description	Due Date

3. Fees, Expenses & Payment Terms

Client agrees to pay Service Provider as set forth below. All fees are exclusive of taxes unless otherwise stated.

Fee Schedule (Itemized)

Description	Quantity	Unit Rate	Amount

Subtotal

Tax (if applicable)

Total

Payment Schedule

Deposit: ; Remaining due within days of invoice receipt.

Late payment interest: . Collection costs, including reasonable attorneys' fees, are recoverable by the prevailing party.

Accepted payment methods: Check Wire Transfer ACH Credit Card

4. Expenses

Reasonable, pre-approved out-of-pocket expenses incurred by Service Provider in performance of this Statement of Work will be reimbursed by Client. Reimbursable expenses require receipts and will be billed in the next periodic invoice.

Expense Reimbursement Threshold / Rules

5. Change Orders

Any change to scope, schedule, deliverables, or fees shall be documented in a written change order signed by authorized representatives of both parties. Service Provider is not required to perform changed work without an executed change order.

6. Confidentiality

Each party shall maintain in confidence all non-public information received from the other party that is designated confidential or that reasonably should be understood to be confidential. Confidential information shall not be disclosed except as required by law or with written consent.

7. Representations, Warranties & Liability

Each party represents that it has the right and authority to enter into this Statement of Work. Service Provider warrants that services will be performed in a professional and workmanlike manner. Except as expressly provided herein, services are provided "as is" and all other warranties are disclaimed to the fullest extent permitted by law.

Limitation of liability: Except for liability arising from gross negligence or willful misconduct, each party's aggregate liability under this Statement of Work shall not exceed the amounts paid by Client to Service Provider under this Statement of Work in the twelve (12) months preceding the claim.

8. Termination

Either party may terminate this Statement of Work for material breach if the breach remains uncured for thirty (30) days after written notice. Upon termination, Service Provider shall deliver work in progress and Client shall pay for all services performed and reimbursable expenses through the effective date of termination.

9. Taxes and Compliance

Fees do not include sales, use, value-added, or other transaction taxes imposed by any taxing authority. Client shall be responsible for any such taxes, unless Client provides a valid exemption certificate. Each party shall comply with applicable laws and regulations in performing its obligations.

10. Insurance

Service Provider shall maintain commercially reasonable insurance coverage for the duration of the engagement. Upon request, Service Provider will provide evidence of insurance to Client.

11. Governing Law and Dispute Resolution

This Statement of Work shall be governed by the substantive laws selected by the parties. The parties shall first attempt to resolve disputes through good faith negotiation. If unresolved, disputes shall be resolved by binding arbitration or litigation as agreed below.

Governing Law

12. Miscellaneous

This Statement of Work, together with any Master Services Agreement between the parties, constitutes the entire understanding and supersedes prior proposals and agreements relating to the subject matter herein. Any modification must be in writing and signed by authorized representatives of both parties.

13. Notices

Notices under this Statement of Work shall be sent to the addresses set forth in the Parties section or such other address as either party designates in writing.

Signatures

Service Provider:

By:

Date:

Client:

By:

Date:

What a Financial Statement of Work Is and when it’s used

A Financial Statement of Work (FSOW) is a structured document that details the financial obligations, deliverables, schedule, and acceptance criteria for services or projects. It typically accompanies a contract or procurement package and clarifies who pays what, when invoices will be issued, how costs are calculated, and what constitutes acceptable deliverables. An FSOW reduces ambiguity between contracting parties, aligns expectations for budgeting and approvals, and provides an auditable financial trail for accounting, procurement, and compliance teams.

Why a clear Financial Statement of Work matters

A well-drafted FSOW prevents disputes, speeds approvals, and supports accurate financial reporting by defining payment terms, milestones, and acceptance processes in plain terms. It also makes audits and vendor oversight simpler by centralizing cost assumptions and invoicing rules.

Who typically prepares and relies on the FSOW

Multiple internal and external stakeholders prepare or use the FSOW depending on project scope and organizational role.

Procurement and contract managers who need precise payment triggers and approval flows for vendors.
Finance and accounting teams that require clear invoice schedules and cost allocation guidance.
Project managers and program leads who track milestone completion and acceptance criteria.

Clear assignment of responsibilities and signatory authority reduces delays and supports consistent recordkeeping across finance, procurement, and legal teams.

Step-by-step: Preparing and completing a Financial Statement of Work

Follow these sequential steps to create an FSOW that links financial terms to deliverables, timelines, and approvals.

01

Draft scope: Define deliverables, milestones, and acceptance criteria clearly.
02

Itemize costs: List unit prices, labor rates, and reimbursable expenses.
03

Set schedule: Tie payments to milestones or calendar dates.
04

Assign approvals: Specify who signs, dates, and receives final documents.

Configure an online workflow for FSOW review and approval

Typical digital workflows reduce handoffs and capture an audit trail for each approval step.

Field	Configuration
Routing order	Sequential or parallel signer order
Authentication	Email, SMS code, or stronger methods
Conditional routing	Trigger alternate approvers by cost thresholds
Retention settings	Automate archive to document management

How eSubmission typically works for a Financial Statement of Work

A standard online signing flow for an FSOW follows these actions from sender to archive.

Upload document: Sender uploads the FSOW and attachments.
Place fields: Add signature, date, and numeric fields.
Send to signers: Notify by email or secure link.
Capture audit trail: Record timestamps, IPs, and actions.

Platform capabilities to look for when eSigning an FSOW

Choose a platform that provides secure signatures, robust audit trails, and integration with your finance systems.

File formats: PDF, DOCX, HTML supported
Integrations: Salesforce, NetSuite, Google Workspace
Authentication: Email, SMS, or KBA options

Core contents every professional FSOW should include

These six elements create a clear link between financial obligations and deliverables, reducing disputes and aiding auditability.

Deliverables

Define work items, acceptance criteria, deliverable formats, and the responsible party for each item to avoid interpretation differences during review and audit.

Milestones

Identify milestone names, dates, and measurable completion criteria tied to payment triggers and project scheduling to align finance and project teams.

Pricing

List fixed prices, hourly rates, and expense reimbursement rules with clear units and rounding rules to support accurate invoicing and ledger entries.

Payment terms

Specify net days, early payment discounts, late fees, and invoicing frequency; explicitly state the currency and payment method to avoid remittance confusion.

Change control

Describe how scope and price changes are requested, approved, documented, and how they affect schedule and payment obligations to prevent informal alterations.

Acceptance

Set test criteria, review periods, and remediation steps required for formal acceptance and final payment to ensure objective closure of milestones.

Security and compliance facts to verify before eSigning

Encryption: TLS 1.2/1.3 and AES-256

Certifications: SOC 2 Type II

HIPAA: BAA required

FDA 21 CFR: 21 CFR Part 11 support

ESIGN/UETA: Federal and state compliance

Accessibility: WCAG 2.0 AA

Common legal and financial risks tied to an incorrect FSOW

Payment disputes: Delayed payments

Audit findings: Noncompliance penalties

Tax reporting: Incorrect filings

Contract breach: Liability claims

Data exposure: Privacy violations

Invalid signatures: Enforceability questions

Frequent mistakes that slow FSOW processing

Vague deliverable language that leaves acceptance to subjective interpretation and triggers disputes during invoice approvals.
Missing or inconsistent party names and tax IDs that prevent payment or cause backup withholding under IRS rules.
Tying payments to informal milestones without change control creates scope creep and unapproved cost increases.
Failing to capture an audit trail for signatures and approvals, which complicates internal or external audits.

Typical timing and deadlines to include in an FSOW

Document and calendar deadlines align financial flow and project delivery; include both internal and external cutoffs.

Effective date:

Date when obligations begin; use MM/DD/YYYY format.

Milestone due dates:

Specific due dates tied to payment triggers.

Invoice submission:

State the deadline for submitting invoices after milestone completion.

Payment terms:

Net 30, Net 45, or specified days after invoice receipt.

Dispute window:

Days allowed to raise invoice or acceptance disputes.

eSignature provider pricing and feature snapshot for FSOW workflows

A neutral feature and pricing snapshot to compare starting prices, trial availability, bulk send, audit trail, HIPAA coverage, and envelope caps.

	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

Common questions and troubleshooting for executing a Financial Statement of Work

Answers to frequent legal and technical questions about validity, electronic signing, and signature disputes when using an FSOW.

Need help? Contact support

Are electronic signatures legally binding?
Yes. Under the federal ESIGN Act (15 U.S.C. ch. 96, 2000) and state UETA laws, electronic signatures are legally valid where not explicitly excluded, provided the transaction meets intent, consent, attribution, and record-retention requirements.
When is a consumer disclosure required?
For consumer-facing financial or healthcare records, the ESIGN Act requires a disclosure and a demonstration that the consumer can access records electronically before obtaining consent.
Do I need a notary for an FSOW?
Typically no, unless state law or the contract requires notarization for specific attachments; if notarization is required, follow state notary and RON rules and retain required journal or audio-video recordings.
What authentication level should I use?
Use email authentication for low-risk agreements; choose SMS, KBA, or advanced signer authentication for high-value contracts or regulated industries to strengthen attribution.
How do I correct signed errors?
If signatures are incorrect, execute an amendment or corrective document signed by all parties. Keep the original signed FSOW for audit and record-keeping alongside the amendment.
Which plan supports high-volume sending?
Platform plans vary: site-license models and enterprise tiers typically support high-volume or API-driven sending and advanced controls; verify plan details for bulk send and usage pricing.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now