Third Party Contract
The Third Party Contract section allows you to upload and manage contract templates provided by third parties. This ensures that all key information is captured and stored in the Contract Management Tool (CMT), maintaining consistency and compliance.
When a third-party contract template is provided, you can upload the document and add the necessary details using our template workflow.
By following this method, you can seamlessly integrate third-party contracts into your system, ensuring they adhere to your company's standards and workflows.
Let's see a step-by-step guide on initiating a Third Party Contracts in CMT -
Selecting a Template
Navigate to "New" and select "Third Party Contract."
Upon selecting "Third Party Contract," a drop-down menu appears with all available templates. Select a template that corresponds to the one provided by the Third Party.
Filling Meta Fields & Adding Document
A page opens displaying relevant meta fields for the chosen template. These meta fields are generated based on the contract template provided to Legistify by your company. We automate the template for the user, creating meta fields corresponding to the variable components in the contract template.
Key features of these meta fields include:
Labels: Titles indicating the type of information needed.
Mandatory Fields: Clearly marked (starred) areas that require user input.
Help Button: Provides guidance on filling in the fields with relevant information.
Fill the customizable form that captures the key values of the contract using the template workflow to ensure all key information is saved in the Contract Management Tool.
Upload the third-party document in the dedicated meta field (as shown in the picture)
Attach any necessary files, such as reference documents or annexures.
Adding Labels, Followers, and Approvers
Labels: Select "Label" to add any custom labels to the contract for personalized organization and reporting. This will help you sort and filter your contracts in the repository.
Followers: Click on "Followers" to see the list of individuals who have access to view and edit this contract. Select the users you want to follow the contract. You can also assign the contract to a user, who will receive the first email once the contract is initiated.
Approvers: Click on "Approvers" to identify the contract approval workflow & see individuals who must approve the contract before further edits can be made.
Draft Saved: Indicates whether the draft has been saved from the previous entry.
Progress: Progress: Displays the progress percentage of the contract template creation process.
Submitting the Contract
After completing the meta fields, submit the form.
The contract will be initiated.
View the contract details such as template details, contract stage, contract title, ID, status, type, subtype, template name, aging, creation, modification dates, requester, labels, and followers.