This is a behavior plan, a list of student's rights, rewards, and consequences to get you class on the right track starting on day one. The key to any good behavior plan is consistency, follow-through, and fidelity.
I use this in my own 4th grade classroom in an inner-city school district. I do pair it with a clip chart for a constant visual component for my students. Works amazingly. Just make sure to stay consistent no matter what you do.