A root contract is a contract that can stand on its own as a legal document, binding all parties to its terms and conditions. When a Contract Profile is created for a root contract, the Agreement Type field will typically reflect either a Master or Individual contract. The Profile also contains links to other program features, allowing you to upload documents, add supplemental information, and perform contract-related tasks, such as negotiating the terms of a contract.
The Contract Profile provides a view of the contract family by displaying the root contract you add, along with any other root or incorporated contracts, such as Exhibits, Addendums, and Schedules, stored in the Company Profile. Since a Contract Profile is housed in a Company Profile, you can also view the company's contract tree from the Contracts link in the Company Profile.
Adding a Contract from the Company Profile
1. Open the Company Profile that needs the root contract.
2. In the Company Profile screen, click Add Contract in the toolbar.
You can also click the New Contract button in the Contracts screen, which displays automatically in the Links section of the Company Profile since this allows you to view the company's existing contracts before adding a new Contract Profile.
3. In the Contract Profile Edit screen, populate the required fields and lists:
- Contract Group
- Agreement Type - select an agreement type in bold text to denote a root agreement.
- Contract Type
- Legal Entity
- Term Type
- Original Exp Date (field is not required for the Perpetual term type)
- (Optional) Click to set an event alert for the original expiration date.
4. (Optional) Populate the remaining fields.
- Click for a field to display a Quick Tip if you need help populating the field.
- Click for a date field to display a calendar to help you select the correct date.
- (Optional) Provide the Renewal and Notice information using the following fields:
- Renewal Interval - Enter the number of months before the contract is up for renewal. For example, if a contract's effective date is 2/12/18 and it will be up for renewal on 12/12/20, enter 24 in the field, which is 2 years, expressed in months.
- Notice Period - Enter the number of days prior to the contract's current expiration date that you have to provide notice of your intent to terminate or renew the contract. The program automatically populates the Notice Date field.
5. Expand the Contract Additional Fields section, and populate any required fields.
6. (Optional) Populate the remaining fields in the Contract Additional Fields section.
7. In the Responsibilities section, assign all required responsibilities for the contract to a user:
- Click in the Name field for a responsibility, and select a user in the list that displays.
- (Optional) Populate any unpopulated fields in the user's record.
- (Optional) Customize the columns of information that display for the user(s) responsible for the contract.
- Hover over a column heading until the icon displays, and click it to open the Sort/Column menu. Click Columns to display a list of available fields, and select the fields you want displayed by clicking in the check box to the left of the field.
- (Optional) Click Add Responsibility to add a contract responsibility.
- Use the information above for a required responsibility to assign the contract responsibility, provide additional user information, and customize the display of information.
The eSignature Role field in the responsibility record is used to indicate the user's authority in signing a contract. If the field is blank, the user does not have the authority, but if Sign appears in the field, the user can sign a contract and is automatically added as a signatory when the eSignature Package Wizard is run without a template
8. Click Save.
Adding a Contract from the Navigation Toolbar
1. Click Contracts in the Navigation Toolbar, and click the New Contract link in the menu.
2. In the New Contract prompt:
- Click in the Company Name field to select an existing company using a pop-up window of alphabetized company names in a scrollable list.
- In the window, enter the first few letters of the company name in the Search field, and click .
- Click on the company record to select it.
- Click the Create Company link to display the New Company Entry screen and create a Company Profile for the new company.
3. When the Contract Profile Edit screen displays, follow Steps 3-8 in Adding a Contract from the Company Profile.