A system and method for automating the web service selection based on reputation information, to help negotiate a contractual web service binding between a client and a server. Reputation information may be schematized into behavioral attributes such as web service responsiveness, web service latency, web service uptime, cost data, business solvency and other trustworthiness and business-related data. Some of the reputation data may be empirically determined, and provided by an independent or other trusted auditor. In one implementation, a client queries a search engine, which returns a ranked list of web services, with the ranking based on reputation scores computed for each web service as collected by an auditor. Clients may provide computational data to weigh the attributes separately. A corporate internet can maintain reputation data for web services to act as an auditor, and a web service server can also execute trusted code to act as an auditor.