Document Types
EraCLM can manage different types of assets. The following table describes every asset available in the solution.
| Asset | Description |
|---|---|
| Agreement | A contract that binds an arrangement between two parties as to a course of action, for example, a non-disclosure agreement, an employment agreement, or a master services agreement. All contracts are agreements in EraCLM. |
| Document | Documents are agreements created from a framework. |
| Record | Records are legacy agreements that took place outside of EraCLM. You can upload records as PDF files to EraCLM, and perform actions on them such as verifying signatures. |
| Request | An agreement can be created from a request. As its name implies, a request for an agreement is when a user requests another user or team to create the agreement. Also, see queues. |
| Child agreement | An agreement in EraCLM can be related to another agreement in a parent-child manner. The child agreement inherits content from the parent agreement. It is a subordinate agreement that helps you to complete a workflow. |
| Attachment | You can attach documents to your agreements. After you add attachments to your agreement, they are kept with your agreement as part of your negotiation process. |
Document Attributes
Documents contain the following attributes:
Sections
You can divide the content of your document into sections. Sections not only help you navigate more efficiently, but they also help you divide the negotiation process. You can assign users to review or change certain sections. Sections let you perform the following actions:
- Assign users to review specific sections.
- Assign users to change specific sections.
- Track changes per section through a history tracker.
- Auto-scroll to the selected section.
- Make use of alternative language options.
Tags
Tags let you enter data that is unique to a document, such as dates, names, or quantities. Frameworks contain tags that they inherit to every agreement that stems from them. In this way, you can tailor a general agreement to a specific counterparty. Tag data can be entered manually by the user, copied from another EraCLM agreement, or a third-party tool. Tag data can be reviewed, approved, or rejected in the negotiation process. The following table describes the tag types available in EraCLM.
| Tag Types | Description |
|---|---|
|
Checklist |
Use a checklist to list options from which you can select what applies, for example, required services. The options that you select have a checkmark while the rest of the options remain visible. |
| Date | Enter custom dates. |
| Dropdown | Use a dropdown list to select one item from a list of options, for example, a type of payment. |
| Formula | Create formulas to automate calculations, for example, total cost. |
| Number | Enter numeric values, for example, a quantity or price. |
| Signature block | Use signature blocks in the places where you need a signature. |
| Text | Enter names, for example, a company or product name. |
| Text essay box | Enter text that is specific to an agreement, for example, a product description or a specification. |
Text Alternatives
Text alternatives are preapproved texts configured at framework level by platform admins. You can use text alternatives for text that is not part of the negotiation process and will not be modified, for example, an exception clause.
Counterparty
The counterparty is a person or company outside of your organization with whom you negotiate a document or agreement.