Placing a Stamp Order for a Contract

This article will guide you through the process of placing a stamp order for a specific contract in SpotDraft.

When to Place a Stamp Order

You can place a stamp order for a contract when it is in the Draft & Redlining Stage. If the contract has already progressed to the "Signing Stage," you cannot place a stamp order.

Placing Your Stamp Order

Follow these steps to place a stamp order:

1. Navigate to the Contract: Open the contract record for the contract where you want to affix a stamp.
2. Go to the "Manage" Section: In the contract record, click on the "Manage" section.
3. Select "Stamps": You will see several options under "Manage." Click on "Stamps."
   
   
   
   
4. Choose "Place Stamp Order": This option will open a new dialog box called "Stamp Settings". Click on the tab labeled "Place Stamp Order".
   
   
5. Complete Stamp Details:
   • State: Select the state for the stamp.
   • Description of Document: Enter a brief description of the type of document (e.g., "Master Service Agreement," "Lease Agreement," "Addendum," etc.).
   • Consideration: If applicable, enter the consideration amount. This refers to the value of the transaction for which the stamp is being used.
   • Stamp Duty: Enter the stamp duty value. This is the amount you are required to pay for the stamp.
   • Note for Vendor: If you have any additional instructions for the stamp vendor, enter them here.
     
     
     
     
6. Enter Party Details:
   • First Party Name: Enter the name of the first party involved in the contract.
   • First Party PAN No: Enter the PAN number for the first party.
   • Second Party Name: Enter the name of the second party involved in the contract.
   • Second Party PAN No: Enter the PAN number for the second party.
   • Stamp Duty Paid By: Select which party is responsible for paying the stamp duty.
     
     
7. Enter Additional Details:
   • First Party Address: Enter the address of the first party.
     
     
     
     
8. Confirm Your Order: Once you have completed all the required fields, click "Place Order" to submit your stamp order.
   
   Note :- To comply with updated stamp order procurement regulations in Karnataka, India ensure the total consideration amount and stamp duty for a contract are included in the Stamp Details section. For contracts requiring multiple stamps, distribute the total value in the table in the Additional Details section under Article Number, Consideration Amount, and Stamp Duty. Non-compliance to the above instructions may lead to order cancellation or procurement delays.
   
   
9. Order Pending:- Once you place the order, you'll see an "Order Pending" status next to the stamp.