Contract Authoring with Contract Terms Templates

Contract Terms Library administrators set up contract terms templates to apply contract terms and conditions based on the type of contract you're authoring.

Depending on the setup, the application can automatically apply the contract terms and conditions from a template or let you select which contract terms template to apply manually.

A contract terms template you apply on a contract can do the following:

• Add sections and clauses from the Contract Terms Library into your contract.

• Specify which numbering scheme and layout is used in the printed contract terms.

• Require you to run the Contract Expert feature to determine whether additional clauses are required in the contract or to determine if the contract conforms to company policies.

• Permit you to edit some or all of the contract terms and conditions. Some clauses may be protected from editing.

• Include contract deliverables for tracking scheduled milestones, such as performance reviews, and other commitments, such as references and proof of insurance.

The following figure provides an example of how you work with a contract terms template:The application applies the terms and conditions from the contract terms template either automatically or when you select the template manually.The Contract Terms tab now contains the contract terms and conditions from the template. The sections and clauses are numbered according to the template's numbering scheme. In enterprise contracts, the Deliverables tab lists the contract deliverables (shown in the boxes demarcated with dotted lines).You can edit the clauses on the Contract Terms tab using the outline.If the template requires you to run Contract Expert, you may be asked to answer questions and enter values for contract variables. Depending on your entries, Contract Expert may insert additional clauses that weren't present in the template itself.

Adding and Editing Sections and Clauses

The contract terms template can include all the boilerplate clauses required for a contract such as a warranty, for example, or just a few of the common clauses such as the governing jurisdiction. These are inserted automatically into the contract terms when the template is applied.

Depending on your privileges, you can add additional standard clauses, substitute an alternate clause for an existing clause, edit standard clauses or add new nonstandard clauses that are specific to the contract. Any change you make to the clauses applied from the template will be recorded as a clause deviation in the contract deviations report you run before you submit the contract for approval.

Running Contract Expert

Some contract terms templates require you to run the Contract Expert feature to determine whether additional clauses must be added. You can tell if you must run Contract Expert when the Clauses tab includes the Contract Expert Last Run indicator before the contract terms preview region. When you run Contract Expert by selecting the Run Contract Expert action, Contract Expert may ask you to enter values for contract variables and to answer questions. If you don't run Contract Expert on a contract that requires it, then you receive a warning message during contract validation.

Adding Contract Deliverables

If the contract terms template includes contact deliverables, then these deliverables are visible only when the template is applied to a contract. You can use these contract deliverables in a contract for the submission and tracking of contractual deliverables such as reports and inspections. These deliverables are updated both by employees within your organization and by external party contacts designated as the responsible party contacts on the deliverables. Contractual deliverables are listed in a clause in the contract terms.