Third Party Sharing & Approval Process
Third Party Sharing allows users to share contracts with third parties directly from the CMT tool for approval or negotiation. This streamlined process enhances efficiency and ensures all followers of the contract are promptly notified throughout the contract lifecycle.
Process Overview:
Accessing the Contract: Navigate to the desired contract and click on "Edit Contract" to access its details.
Sharing with Third Party:
Select Share: From the top menu, choose "Share."
Choose Sharing Method:
Restricted Access Link : This method allows you to share the contract through a secure web link that requires recipients to authenticate via a One-Time Password (OTP) before accessing the document.
Email: Share the contract directly via email. Recipients receive the document in their inbox, making it accessible only to the specified email addresses.
General access Link: Share the contract via a web link that allows anyone with the link to access the document. This method provides the most flexibility but with less control over who can view the contract.
Fill in Details:
Enter recipient's Name and Email.
Specify Third Party Rights (Reader, Writer, Commentator).
Set Validity Period for the shared link.
Optionally, provide an Access Key for added security.
Attach any relevant documents to the contract.
Inviting Multiple Third Parties:
Add Invitees: Include multiple third-party users if needed.
Send Invitations: Click "Invite" to send out the invitations.
Third Party Interaction:
Upon receiving the invitation, the third party will access the contract and have two options:
Finalize Draft: Approve the contract with a single click. Followers of the contract are notified via email upon approval, allowing the process to proceed to E-signature.
Negotiate: Make necessary changes based on assigned rights:
Writer: Edit the contract directly. Edits are tracked and can be accepted or rejected by the contract creator.
Commentator: Add comments visible to the contract creator for review.
Reader: View the contract without editing capabilities.
After making changes, the third party selects "Negotiate," and adds a remark, prompting the user to review and implement suggested changes. Once approved by the third party, the contract status updates to "Third Party Approved," signaling successful completion of the approval process.
This process ensures efficient collaboration and transparent communication between all parties involved in the contract approval and negotiation phases.