Each Concord document contains a Summary Sheet which grants quick at-a-glance access to essential information (parties, date of signature, main clauses, etc.). Alerts will be sent based on the information you enter in your Summary Sheet for your contracts (more on this below).
Completing the Summary Sheet
The summary is divided into several sections:
- General information: including the third party name, the title of the document, description, and tags.
- Life Cycle: where you can specify the date of signature, duration, notice, etc.
- Custom Fields: Personalize your Summary Sheet with custom fields. For example, you can add a field dedicated to the external signer’s phone number or the Purchase Order number.
- Clauses: Allow you to add all other clauses needed for your agreement. Under Clauses, you can also specify the financial conditions of your contract.
To add or remove an item under each of these sections, click 'Edit' to the right of the corresponding section.
Adding document details: third party names, descriptions, tags, folders
- Set the Third-party name so you can find your documents more efficiently. Click on the Add Third-party name button from the Summary tab to add information. The Third-party name will automatically populate once the document is signed.
- Enter a brief description of the document
- Assign the document to the correct folder and Tag(s)
Updating the Life Cycle Section
- Enter the date when the contract was signed in the "Signed on" field. You can configure the length of the contract in "duration."
- You can set the effective date as a specific date if it is different from the document’s signature date.
- If the document requires a notice of termination, you can enter the required time frame in the "Termination Notice" field.
- You can also add a renewal.
- By default, your executed contract will show in 'Signed' status. This means that the end date is unknown, and Concord cannot determine whether it is effective or not. The status will be automatically updated by completing the summary sheet.
Add Custom Fields
- Personalize your Summary Sheet with custom fields. For example, you can add a field dedicated to the external signer’s phone number or the Purchase Order number.
- To add a field, click "Add a field" and enter the field name. You can click "Enter field value" if you want to set the value of the field.
Adding a Clause
- Click 'Add clause' to start entering your clause information to create an at-a-glance view and set alerts for other important contract terms.
- If you need to add a duration regarding the clause, click on 'Add duration/frequency.'
- In the 'Add a financial amount' section, you can track specific financial terms from the contract and enable corresponding duration frequency to receive alerts.
Who Will Receive Email Alerts?
- Concord automatically notifies by email of all future deadlines. These alerts cover all aspects of your contract deadlines from the beginning, end, notices, financial deadlines, and any other clauses.
- On a signed document, the users with whom the document was shared or have access via Folders will receive alerts. Click the Share button to share the document with a user for the user to receive alerts.
Users can set in their Preferences how far in advance they will be alerted of a deadline.