Simplified Terms Template

In the simplified terms template, the contract terms are created by adding all the information in a word document and uploading this document as an attachment in the .docx format.

This template enables your contract administrator to create a terms template quickly and easily by simply uploading an existing legal terms document without enforcing application driven segmentation, formatting, or style. Adding all the contract terms in one document helps in avoiding the complexity and efforts of breaking the contract terms into individual sections and clauses and then arranging them in a contract terms template.

The simplified terms template enables you to add the approved terms document stored in the centralized repository so that the same document can be reused across multiple contracts. Because clauses are directly used from a document and not retrieved from the Contract Terms Library, the updated or rearranged clauses information isn't automatically reflected in all the simplified terms templates. To keep the information consistent, you must individually update the information in all the templates. This can create consistency issues in the contract terms language when you have the same clause or terms document used across multiple simplified terms templates.

You can use the simplified terms template when you want to:

• Use the ease of authoring contract terms in the word document by ignoring the level of clause scrutiny offered with the structured terms template.

• Avoid using the application driven standard and style for creating terms document.

• Prevent others from editing the contract terms at the same time. Thus eliminating information silos.

• Use the Contract Expert feature.