Contract Details


The contract details page for a contract contains a wealth of information and features about the contract.

Each contract record provides a panel of summary information about the contract and the other party to the contract. There are also five tabs of additional features and information: documents, requirements, alerts, tasks, and notes.

Contract summary

In the summary panel there are three sections of Information. The group on the left includes information about the other party, including a link to the party record showing more detail about the organization.

The middle group of information shows key dates and any financial data points.

The group on the right contains internal organizational information like the legal entity on your side that entered the contract, the responsible department or departments, any tags, and notes.

Lextree automatically hides fields that do not contain data. So if your record, for example, does not have any departments, then the departments field will not show. If you later, edit the record to add departments, then the departments field will show.

Documents

A contract record contains all of the documents related to the contract, including the original agreement and any schedule, exhibit, or amendment.

To add a document, select the + Add button on the Documents tab of the contract record.

To edit the details about a document, select the link to the Title. To view the document itself, select the document link in the File or Link column. Lextree will display the file provided that your browser is set to display the document file type. Otherwise, Lextree will provide a link to download the file to open it with the native application. Your browser’s ability to display documents depends on security settings, browser, operating system, and browser extensions.

Requirements

Requirements allow you to manage contract details with as much precision as you want. You can, for example, track external compliance obligations or store specific provisions like change of control that matter to you.

Requirement Types

To add a requirement, select the + Add button on the Requirements tab. The available Requirements Type options come from Settings > Lookups & Fields > Requirements Types.

Requirement Dates

At the Requirement Date? field, you have three choices

  1. No date means that there is no alert for this requirement, but it is an obligation you want to track. Change of Control and Indemnification provisions frequently are worthy of tracking but have no due date that is unrelated to the contract.
  2. Yes, enter a date allows you to set an absolute due date for any date you want. The requirement date is separate from the contract.
  3. Yes, link to a contract date allows you to set a relative due date that is tied either to a contract date or to a document date.

Requirement Alerts

If you set an absolute or relative due date for the requirement, you can set an alert for the requirement. Select the Send Alert? check to access the alert options.

Alerts

The Alerts tab in the contract record pull together all the alerts for the contract in focus regardless of source. Alert can be set for the Contract, any Document, and any Requirement.

Tasks

From the contract record you can initiate two types of tasks: a single action task, or a task workflow. Tasks are available to Business and Enterprise edition subscribers.

To assign a new task to one or more users, select the + Assign button on the Tasks tab for a contract record.

At the Contract Document Request, choose “No” to assign a single task, rather than starting a task workflow.

Provide brief description in the Task field. We recommend an active verb describing the action and an object of the action. For example:

  • “Send new certificate of insurance,”
  • “Review contract before auto-renewal,” and
  • “Review related contracts.”

Assign the task to one or more users. Simply click in the Assigned To field to see a list of available names. Choose the name of the person to add. Repeat the process to add more names.

In the Completions Required field, indicate whether only one of the assignees needs to complete the task or whether all of them must complete it.

Schedule the due date in the Due field.

Add any notes to the task for more background or context.

You can optionally attach a document to the task, by selecting the Include document? checkbox.

Select Submit to save the task. Assignees will receive an email notifying them about the new task. They will also receive a weekly digest of their tasks if they choose that option in their user profiles.

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