Structured Terms Template

In the structured terms template, the contract terms are created using the building blocks of individual clauses and sections stored in the Terms Library page.

This template requires your contract administrator to manually break down the contract terms into sections and clauses, store them in the Contract Terms Library, and then arrange them in a template. Once the contract terms template is approved, you can start using it in your contracts.

It's ideal, wherever possible, to use this template in your contracts to significantly automate the contract authoring process with centralized templates and clauses.

As this template uses clauses stored in the Contract Terms Library, it's easier and faster to update a clause used in multiple templates. Once you modify a clause information in the Contract Terms Library, all the templates using the same clause reflect the updated information automatically. This ensures accuracy and consistency in the language of the contract terms across all contracts using the same clause or template.

Use the structured terms template when you want to:

• Use deviations reporting and clause analysis features to find out added, edited, and deleted information in your clauses. The deviations report lists:

  • Standard clauses you added, edited, or deleted

  • Alternate clauses you selected to replace the standard clauses

  • Nonstandard clauses you created for this contract

  • Missing clauses recommended by Contract Expert

  • Outdated clause versions

  • Policy deviations

  • View and analyze the changes done in each clause of the contract

• Edit the contract terms from either the application or word document.

• Use application driven standard and style for authoring your contract.

• Use flexibility in handling translation for clauses.

• Compare edited clause with the standard clause stored in terms library. Changes made to clause text are highlighted in colored text. The deleted text is displayed in red with strikethrough while the inserted text in green with underlining.

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

• Assign or change the numbering scheme from within the application.

• Use the Contract Expert feature to specify which clauses are mandatory for a contract or protected against updates during negotiation