3rd Party Paper Management
Third-party paper management refers to a CLM system’s ability to intake third-party contracts, track their progression from start to finish, store for future access, and capture key data points that are important to you. When evaluating contract lifecycle management (CLM) software, this is often a high priority for most organizations.
Acceptance
Acceptance is what signifies the formal approval or acknowledgment by all relevant parties involved in the contract. It indicates that the terms and conditions of the contract have been reviewed and agreed upon, marking a crucial milestone in the contract lifecycle
Access Controls
Access controls are implemented to ensure that only authorized users can access certain parts of the CLM application based on their assigned roles and permissions.
Activity Feed
An activity feed is a chronological record or log of all actions and events related to a contract throughout its lifecycle. It provides real-time updates on changes, approvals, and interactions, offering a comprehensive view of the contract's progress.
Adaptability
Adaptability is the ability of CLM systems to flexibly accommodate changes in regulations, industry standards, or business processes.
Addendum
An addendum is a supplementary document added to a contract to modify or add specific terms, conditions, or details. In CLM, addendums are used to make amendments to the original agreement without requiring a complete renegotiation.
Adhesion Contract
An adhesion contract, often termed a standard form contract, is a pre-drafted agreement with standardized terms and conditions. In CLM, these contracts may require careful review and customization to align with the specific needs and preferences of the parties involved.
Adobe Sign
Adobe Sign is an electronic signature solution often integrated into CLM platforms. It allows parties to sign contracts digitally, streamlining the signature and approval processes in a secure and legally compliant manner.