How to Manage Basic Info Questions
This guide explains how to manage standard questions asked as part of the contract template workflow in SpotDraft. These questions apply to both your company and the counterparty. Follow these steps to manage and configure the questions.
Step 1: Select the Workflow
- Access Workflow Manager: Use the shortcut
Cmd+K(Mac) orCtrl+K(Windows), type "Workflow Manager", and press enter. Alternatively, navigate through the sidebar menu by going toManage > Workflow Manager.
- Select Template Workflow: Choose the specific Template workflow for which you want to manage basic questions.
Step 2: Access the Document & Questionnaire Section
- Click on the "Setup Document & Questionnaire" section.
Note:
- To manage the Basic Info Questions for Your Company or the Counterparties, click on "Edit Questionnaire" or "Setup Questionnaire".
- Edit Questionnaire: This option is available if you have previously set up additional sections and questions beyond the basic info questions.
- Setup Questionnaire: This option appears when no sections and questions have been set up yet.
Please note that the availability of "Edit Questionnaire" or "Setup Questionnaire" depends on whether you have customized your questionnaire beyond the basic queries.
Step 3: Managing Questions for Your Company
- To manage questions related to Your Company, click on "Edit or Setup questionnaire" under the Your Company header.
- Select "Manage Basic Info Questions".
- This opens up an on-screen prompt.
- Setup Basic Info Questions: Certain fields, such as Entity, Counterparty Legal Name, Counterparty Point of Contact, and Authorized Signatories, are immutable. However, the Counterparty Address can be modified to be Mandatory, Optional, or Hidden.
Let's see the effect of toggling the address fields.
Case 1: When Counterparty Address is Mandatory
- Click on "Mandatory" to make the address fields mandatory. Then, click on "Save".
- Make this change live: Click the back button.
- Clicking on "Publish new changes".
Outcome: To see these fields in action, follow these steps to create a new contract using the template workflow.
- Go to “New” and click on “Template Contract”.
- Let's select the template workflow that we just made edits on the basic info questions.
- Since the address field has been made mandatory, the counterparty address fields will be marked with a red asterisk, indicating that a response is required to proceed.
Case 2: When Counterparty Address is Hidden or Optional
Choose the Counterparty address as "Hidden" and click on "Save".
- Make this change live : Click on the back button
- Clicking on “Publish new changes”
Now, when you use the same template, the fields that you have to answer also change. In this case, since you chose to hide the address fields, there are no address fields that you need to answer.
Step 4: Managing Questions for Your Counterparties
- To address questions related to Counterparties, click on the edit/setup questionnaire option under the ‘Counterparties’ header.
- Select “Manage Basic Info Questions”
- This opens up an an on-screen prompt
- Toggle Questions: You can choose any questions, except for the 'Authorized Signatories', to be visible or not for Counterparties. Simply select 'Yes' or 'No' from the toggle.
- Once you have made the necessary changes, click on "Save".
- To make the changes live, click on the back button
- Click on “Publish new changes”
Examining the impact of toggling the address fields for the Counterparty
When the Counterparty receives the contract for Review and Sign, they will be prompted to provide responses. The questions asked will depend on the status of the toggles.
Case 1: When all fields are required and toggled to 'Yes'
In this scenario, let's toggle all the questions to 'Yes'.
- When the counterparty receives this for review and sign, they will be asked to fill in all the fields. Their screen will look like this:
Case 2: When all fields except 'Authorized signatories' are set to 'No'
You have the option to choose which fields should be shown or hidden. In this case, we will toggle all questions to 'No' except for the signature field. This means that, apart from the signature, none of the other questions will be displayed for the counterparty.
- The counterparty would be asked only for the signature and their screen would look like this:
Final Notes
- Remember to publish changes in order for them to take effect.
- The setup of the questionnaire may vary between 'Your Company' and 'Counterparties'.
- Any modifications made will be reflected in new contracts created using the template workflow.