Creating a Template Contract

Step 1: Click on +New Workflow

Step 2: Select New Contract, which takes you to the Template Selection Page. All the templatized contracts that you have access to would be visible here for use.

Step 3: All the listed contract types have a description for easier understanding. Select the type of contract that you need to create. The template questionnaire opens up, allowing easy input of contract particulars to create a standard contract draft.

The first section of Party information is standard, enabling you to input details of your business entity and details of the other party.

Step 4: Click on the Entity dropdown under your organization’s name to select the business entity for this contract, followed by the signatory. These need to be pre-fed into the platform.

(to see how you can add additional entities and signatories, click here)

Step 5: Enter the Counterparty’s details by clicking on the dropdown for a previously dealt with organization on SpotDraft, or add a new Counterparty by clicking on ‘Invite a new Counterparty’. Their details would be added to the dropdown the next time you create a contract.

Step 6: Put in deal-specific contract particulars in the next sections till you reach the end of the questionnaire. Before clicking on ‘Complete Draft’ to generate a standard contract, you can always ‘Preview Contract’ by clicking on the button at the top-right corner of the screen.