Provides for specific requirements for business payment contracts. This act requires a separate signature line for a business representative to accept the terms of the contract on behalf of another and makes the business representative personally liable for the contract. This act applies to business payment contracts executed on or after July 1, 2012.   Official Text and Analysis.

Specifies that business payment contracts containing personal guarantees must include separate signature lines and notices. The substitute bill makes a personal guarantee in a contract that does not follow the bill's requirements unenforceable, rather than making the whole contract voidable.