Abstract: A system and method for the representation of business policy and the governing of business activities using a Business Rules Book containing a set of policy and procedural rules. The organization maintains a plurality of stored Policy Sets representing a unique set of Instances of rules selected from the Business Rules Book. The organization establishes the policy and procedural rules under which the various levels and departments in the organization operate using selected Policy Sets designed to address policy and procedural parameters set for each specific business process, user and organization profiles, and optionally linked to a Product List Filter which targets a specific subset of products from a master product list. The Business Rules Book, Policy Set and optionally Product List Filter are linked in a business contract, to create a centrally stored codification of all business policies and procedures, customized to each business deal arrangement with a partner organization.