Can this agreement be signed electronically?

Yes. Electronic signatures are legally valid under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted, provided intent, consent, attribution, and retention requirements are met.

When is notarization required?

Notarization is required for certain instruments (e.g., deeds, some powers of attorney) depending on state law; check the applicable state notary rules before executing.

What if a signer lacks authority?

If an unauthorised individual signs, the contracting party may lack enforceability and may need ratification or a corporate resolution to confirm authority.

Are remote online notarizations acceptable?

Many states permit RON with identity proofing and audio-video recording; verify state-specific RON rules and retention requirements before relying on a remote notary.

How should confidential information be handled?

Include clear confidentiality clauses and, for healthcare data, a HIPAA-compliant BAA where applicable. Limit data access and specify permitted disclosures.

What records should be retained after execution?

Retain the signed agreement, exhibits, audit trail, and any notarizations for the applicable retention period (see IRS, HIPAA, or industry rules) and in accord with corporate policy.

Electronic Signature
Templates
Miscellaneous
Permian Business Agreement

Permian Business Agreement

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

PERMIAN BUSINESS AGREEMENT

This Permian Business Agreement (the "Agreement") is entered into as of by and between the parties identified below.

PARTIES

Client Name: Client Entity Type:

Corporation Limited Liability Company Sole Proprietorship Other:

Client Address for Notices: Contractor Name: Contractor Entity Type:

Corporation Limited Liability Company Sole Proprietorship Other:

Contractor Address for Notices:

RECITALS

WHEREAS, Client conducts business operations in the Permian Basin and requires certain goods and services in connection with such operations; and

WHEREAS, Contractor represents that it possesses the experience, personnel, equipment and licenses necessary to perform the services described in this Agreement; and

WHEREAS, the parties desire to set forth the terms and conditions under which Contractor will perform such services for Client.

SCOPE OF WORK

Contractor shall perform the services and deliverables described below. Services must be performed in a professional and workmanlike manner consistent with industry standards applicable in the Permian Basin.

Describe scope of work, deliverables, milestones and acceptance criteria:

PAYMENT TERMS

Client shall pay Contractor for the services in accordance with the schedule and amounts set forth below. All amounts are payable in U.S. dollars unless otherwise agreed in writing.

Total Contract Amount: Deposit / Initial Payment: Payment Schedule and Milestones: Net Payment Terms (days): Late Payment Fee:

Overdue amounts shall accrue interest at the lesser of 1.5% per month (18% per annum) or the maximum rate permitted by applicable law. Alternatively, the parties agree to a late fee of % per month.

TERM AND TERMINATION

The term of this Agreement shall commence on and shall continue until unless earlier terminated as provided herein.

Notice Period for Termination Without Cause (days): Termination for Cause — Cure Period (days):

Either party may terminate this Agreement immediately upon written notice if the other party materially breaches any obligation under this Agreement and fails to cure such breach within the specified cure period.

CONFIDENTIALITY

Each party (the "Recipient") shall keep confidential and shall not disclose to any third party any non-public, proprietary or confidential information of the other party (the "Discloser") obtained in connection with this Agreement. Confidential Information shall include, without limitation, technical data, pricing, business plans, and customer information, but shall not include information that: (a) is or becomes generally known through no act or omission of the Recipient; (b) is independently developed by the Recipient without use of the Discloser’s Confidential Information; or (c) is required to be disclosed by law, provided the Discloser receives prompt written notice and an opportunity to seek protective measures.

The Recipient shall use at least the same degree of care to protect the Discloser’s Confidential Information as it uses to protect its own confidential information, but in no event less than a reasonable degree of care. This obligation shall survive termination of this Agreement for a period of three (3) years.

INSURANCE AND INDEMNITY

Contractor shall maintain insurance coverage customary for the services provided, including commercial general liability and workers' compensation as required by law. Contractor shall indemnify, defend and hold harmless Client from and against any third-party claims arising out of Contractor’s negligent acts or omissions, breach of this Agreement, or violation of law.

GOVERNING LAW

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

ENTIRE AGREEMENT

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

NOTICES

Notices required or permitted under this Agreement shall be in writing and delivered to the addresses set forth above or to such other address as a party may designate by written notice. Notices shall be deemed given upon receipt.

Client:

By:

Date:

Contractor:

By:

Date:

What the Permian Business Agreement Is and When It Applies

The Permian Business Agreement is a commercial contract template used to record terms between two or more businesses engaging in trade, services, joint operations, or project work. It establishes scope of work, payment terms, warranties, indemnities, insurance, confidentiality, and termination rights. The form can be adapted for short-term projects or long-term partnerships and commonly appears in industries operating in the Permian Basin and similar energy, services, or supply-chain contexts. Parties typically attach exhibits (scope, schedules, pricing) and choose a governing state law for dispute resolution and enforcement.

Why a Written Permian Business Agreement Matters

A clear written agreement reduces ambiguity about roles, payment, deliverables, and liability, improving enforceability and lowering commercial risk. It provides a basis for dispute resolution and preserves contractual rights over the project lifecycle.

Typical Users and Stakeholders

Internal approvers (procurement, legal, finance) and external signatories (authorized business officers) should review and confirm each section before execution.

Mid-market oilfield service firms negotiating scope and payment terms for a drilling campaign.
Local suppliers contracting to provide materials with delivery schedules and acceptance criteria.
Legal and contracting teams standardizing terms across multiple project sites to reduce negotiation time.

Who Signs and Who Reviews

Authorized Signatory

A senior officer or manager with delegated authority to bind the company signs the agreement. Confirm corporate resolution or board approval where required and ensure the signatory name matches legal entity records to avoid enforceability issues.

Contract Administrator

Procurement or legal staff review scope, insurance, indemnity, and payment terms, manage redlines, and track milestones. They retain a final executed copy and coordinate any required notarization or filings.

Core Elements to Include in a Professional Agreement

A thorough agreement organizes essential terms into discrete sections and attaches supporting exhibits so responsibilities and remedies are clear.

Parties

Full legal names and entity types for all parties, plus registered business addresses and tax identification details for payment and tax reporting.

Scope of Work

Clear, measurable deliverables, performance standards, inspection and acceptance procedures, and any milestones or deliverable dates tied to payment triggers.

Payment Terms

Invoicing frequency, due dates, late payment penalties, retainage (if any), and whether payments trigger tax or withholding obligations such as backup withholding.

Liability and Insurance

Indemnity language, limitation of liability caps, and required insurance types and coverage limits, together with proof of insurance attachment instructions.

Confidentiality

Definition of confidential information, permitted disclosures, nondisclosure period, and treatment of proprietary data after termination.

Termination and Remedies

Termination for convenience vs. cause, cure periods, effect on outstanding obligations, and post-termination duties, including return of property and final accounting.

Essential Data and Metadata to Record

Party Name: Exact legal name

Entity Type: Corporation/LLC/Partnership

Effective Date: MM/DD/YYYY

Payment Terms: Net/retainage details

Governing Law: Chosen state

Signatory Title: Officer or manager

Common Legal and Financial Risks

Contract Ambiguity: May void or limit remedies

Incorrect Signatory: Risk of unenforceability

Missing Insurance: Exposes parties to uninsured loss

Payment Defaults: Collection costs and interest

Regulatory Noncompliance: Fines, stop-work orders

Data Privacy Breach: HIPAA or CCPA liability

Avoidable Preparation Errors

Using informal or inconsistent party names that do not match incorporation records, which can prevent enforcement and complicate tax reporting.
Omitting effective dates or leaving milestone dates as placeholder text, causing disputes over when performance obligations begin.
Failing to specify dispute resolution or governing law, leading to additional expense and uncertainty if litigation arises across state lines.
Neglecting to attach exhibits like pricing schedules and insurance certificates, leaving important obligations undefined and open to differing interpretations.

How to Complete the Permian Business Agreement

Follow these sequential steps to prepare a clear, enforceable agreement and reduce review cycles.

01

Draft Key Terms: List scope, price, schedule, and risk allocation.
02

Assign Reviewers: Legal, finance, and operations review draft.
03

Negotiate Revisions: Log changes and confirm tradeoffs in writing.
04

Execute and Distribute: Obtain signatures, distribute fully executed copy.

Amendment and Revision Workflow

Use a controlled amendment process to track contractual changes and maintain a single authoritative executed version.

01

Request Change:

Submit redline request with rationale.

02

Legal Review:

Assess risk and compliance impacts.

03

Approve Changes:

Authorized approver sign-off recorded.

04

Issue Amendment:

Attach signed amendment exhibit.

05

Distribute Updated Copy:

Send final PDF to stakeholders.

06

Retain Version History:

Store prior versions securely.

How to Set Up an Online Signing Workflow

Configure a repeatable eSignature workflow that enforces signer order, authentication, and document retention before sending.

Field	Configuration
Signer Order	Sequential or parallel
Authentication	Email, SMS code, or ID check
Required Fields	Signature, date, initials
Retention	Store signed copy + audit trail

Where to Send or File the Executed Agreement

After execution, route the final agreement to internal and external recipients and file according to corporate recordkeeping policies.

Counterparties: Send executed copies to each party.
Contract Repository: Upload to central contract management.
Accounting: Attach to purchase orders and invoices.
Legal File: Store executed original for audits.

Digital Signing and eSubmission Considerations

Verify HIPAA or industry-specific compliance and retain the certificate of completion and a tamper-evident signed file for legal admissibility.

Authentication: Email, SMS, or KBA options
Audit Trail: Time-stamped events and IP
File Formats: PDF, DOCX accepted

Key Contract Milestones from Drafting to Close

Track these milestone stages to ensure timely performance, payments, and compliance with contractual dates.

01

Negotiation

Finalize scope, pricing, and key risk allocations.

02

Execution

Obtain authorized signatures and notarizations if required.

03

Delivery & Filing

Send executed copies to parties, file exhibits, and record deeds if applicable.

04

Recordkeeping

Store signed agreement, audit trail, and related invoices securely.

eSignature Pricing and Feature Comparison

Common eSignature plans vary by starting price, trial availability, bulk send, audit trail, HIPAA support, and any envelope limits; signNow appears first for direct comparison.

	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 (premium)	Yes	Yes	Yes	No
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

Frequently Asked Questions About the Permian Business Agreement

Answers to common execution, enforceability, and eSignature questions for commercial agreements.

Need help? Contact support

Can this agreement be signed electronically?
Yes. Electronic signatures are legally valid under the ESIGN Act (15 U.S.C. ch. 96) and UETA where adopted, provided intent, consent, attribution, and retention requirements are met.
When is notarization required?
Notarization is required for certain instruments (e.g., deeds, some powers of attorney) depending on state law; check the applicable state notary rules before executing.
What if a signer lacks authority?
If an unauthorised individual signs, the contracting party may lack enforceability and may need ratification or a corporate resolution to confirm authority.
Are remote online notarizations acceptable?
Many states permit RON with identity proofing and audio-video recording; verify state-specific RON rules and retention requirements before relying on a remote notary.
How should confidential information be handled?
Include clear confidentiality clauses and, for healthcare data, a HIPAA-compliant BAA where applicable. Limit data access and specify permitted disclosures.
What records should be retained after execution?
Retain the signed agreement, exhibits, audit trail, and any notarizations for the applicable retention period (see IRS, HIPAA, or industry rules) and in accord with corporate policy.

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