Examples of Using the Oracle Contracts Terms Library

Standard clauses, terms templates, and business rules are set up in the contract terms library. With policies and terms templates in place, the legal language on a contract can be quickly created from approved templates, expediting contract creation and approval.

Use these examples to better understand using the common features of the terms library.

Creating a Clause in the Contract Terms Library

The clause is the basic building block of both the terms library and contracts in general. Using the Create Clause task in the Terms Library work area the following steps summarize the creation of a clause. See the related links section for a detailed demonstration.

1. In the Create Clause window, select the business unit for the clause.

2. Enter a clause number, title, and display title per your organization's standards.

3. Select the intent for the use of this clause.

4. Select a clause type.

5. Use the editor to enter your clause text.

6. Add variables to your clause by positioning the cursor in the text and clicking Insert Variables .

7. You can enter optional instructions for contract authors in the Instructions tab.

8. You can provide contract authors with alternate clauses that they can select instead of this one in the Related Clauses tab.

9. When your clause is complete, submit the clause for approval by the library administrator by clicking Submit.

Creating a Contract Terms Template

The terms template is the customary starting point for all contract authors. Using the Create Terms Template task in the Terms Library work area the following steps summarize the creation of the template. See the related links section for a detailed demonstration.

1. Select the business unit for the template.

2. Enter a unique name into the Name field per your organization's standards.

3. Select the intent for the use of this template.

4. Select the layout template which best enables contract authors to preview the contract terms when they are selecting templates.

5. It's recommended that you use Contract Expert rules to add additional clauses if the contract requires it, so you must enable Contract Expert for this template.

6. Enter name of the default section where Contract Expert will insert any additional clauses into the Default Section field.

7. Click Save.

8. Click Add in the Document Types toolbar of the Document Types region to specify what contract types will use this template.

9. Select the Document Type and optionally click the Default option to automatically apply this template to every new contract of this type.

10. You need a section to add clauses to so start by clicking Add Section from the Actions menu in the Clauses tab.

11. Add an existing section from the library or create a new section.

12. To add clauses to this section, click Add Clause.

13. Search for the desired clause, select the clause, and then click the OK button.

14. Click Expand for the section and then click Refresh to see your edits.

15. After you have added all the desired terms and conditions to the template, click Submit to begin the approval process.

16. If your template passes validation without errors, click Submit again.

Creating a Clause in a Contract Terms Template

Once you have created a contract terms template you can modify it by creating a clause while editing the template in the Contract Terms Library. With your template open in the Clauses tab the following steps summarize the creation of a clause. See the related links section for a detailed demonstration.

1. Click Add Clause and search the library for similar clauses before creating a new one. In this example the library does not contain the clause you need and you will create one.

2. Click the Create Clause button.

3. Enter an alphanumeric ID in the Number field that is unique within the business unit.

4. Enter a unique clause title in the Title field.

5. Classify the clause for the Contract Terms Library by selecting a Type.

6. Enter the clause text and optionally insert variables into the Text field to complete your new clause.

7. Once you are satisfied with your new text, click the OK button.

8. Expand the template folders and click Refresh to see the latest edits.

9. After you have added all the new terms and conditions to the template, you are ready to submit it for approval by clicking Submit.

10. Review all the draft clauses you created or added to the template and click Next.

11. If the template passes validation without errors, you then click Submit again.

12. The template and draft clauses are now pending approval and are available for use in contracts after they are approved.