Merging Counterparties and Moving Contracts
This guide assists users in merging one counterparty (referred to as the "Source Counterparty") into another (referred to as the "Destination Counterparty") and transitioning all relevant contracts to the Destination Counterparty.
Note:
- All contracts of the Source Counterparty must be in the ‘Executed’, ‘Permanently Delete’ or ‘Void’ stage when you merge the Source Counterparty into the Destination Counterparty.
- Please note that a maximum of 100 contracts from the Source Counterparty can be transferred to the Destination Counterparty.
- If the Source Counterparty is associated with more than 100 contracts and you require a merge of these, kindly reach out to our Support team for assistance.
- Merging a Counterparty of the Organization type into an Individual Counterparty is prohibited if more than one organizational user is associated with the Organization type Counterparty.
- A merge is not permitted if the destination Counterparty is an Individual lacking an associated point of contact (POC).
- Merging is disallowed if either the source or destination Counterparty is currently undergoing a migration process.
- Merging is not allowed in cases where there are shared contracts between the source and destination Counterparties.
- Merge operations will be limited if both the Source Counterparty and the Destination Counterparty share the same email address, whether for an individual or an organization. This restriction applies to all merge scenarios: individual to individual, individual to organization, organization to individual, and organization to organization.
Step 1:
- Quickly search by using ‘Cmd+K’(Mac) or ‘Ctrl+K’(Windows) and type "Counterparties". Alternatively, from the sidebar menu, navigate to Manage>Contract attributes and click on “Counterparties”.
- Click on “Merge Counterparties” from the kebab menu(3 dots icon) next to the “+New Counterparty” button.
Step 2:
- First, select the 'Source Counterparty' that needs to move along with all its contracts into the new destination counterparty
- Next, select the 'Destination Counterparty' into which the Source Counterparty's contracts will be moved into.
Note:
- The Source counterparty can be either active or archived.
- The Destination Counterparty must be an Active counterparty.
- After getting merged into the Destination Counterparty, the Source Counterparty will be deleted. Caution: This action is irreversible!
Step 3
- Review the details of the chosen Source and Destination counterparties by selecting “Show Counterparty Details”.
- Click on "Merge Counterparties" to merge the selected Source Counterparty to Destination Counterparty.
Step 4:
- A confirmation modal will appear. Click on "Merge" to start the merging process.
Note:
- This is an asynchronous process. Upon completion, users will receive an email indicating the success or failure of the merge. If unsuccessful, attempt the process again. If repeated failure occurs, contact your Workspace Administrator.
Merging Outcomes
- Contracts formerly linked with the Source Counterparty will now recognize the Destination Counterparty as their main counterparty.
- The Source Counterparty will be deleted from the system.
What to do when Merging is Not Allowed?
If merging is not allowed due to the source counterparty’s contracts being in progress (indicated as ‘Draft’, 'Redlining' or 'Awaiting for Signature'), follow these steps:
Step 1: Viewing Affected Contracts
- Click on “View Contracts” in the caution message. This will display a list of all contracts that need attention before you can proceed with the merge.
Step 2:
Open the respective contract by clicking on its 'Contract Name' and choose the appropriate action:
- Execute Contracts
- Permanently Delete Contracts
- Void Contracts
Note:
Handling Restricted Access Contracts:
- If you're unable to view certain contracts in the list or modify them. These are likely to be due to 'Access Control' restrictions, In such cases, contact your Workspace Administrator
Execute Contracts:
To move a contract from its current in-progress state to an executed state, simply get the contract signed by all signatories in order to merge.
Step 1
Click on the three-dot kebab icon menu and select “Mark for Execution”. This action will transition the contract into an executed state, finalizing its terms and conditions.
Permanently Delete Contracts:
If a contract is no longer needed and you wish to remove it permanently from the system, open the contract and proceed as follows:
Step 1
Click on the three-dot kebab icon menu and choose the “Delete Contract” option.This action flags the contract for deletion but does not permanently remove it yet.
Step 2
- Click again on the three-dot kebab icon and choose the “Permanently Delete” as the final confirmation for deleting the contract.
Step 3
- A confirmation popup will appear on your screen. Click on ‘Delete’ in the popup. This action will permanently remove the contract from the system.
Note:
This action is irreversible. Once a contract is permanently deleted, it cannot be recovered or restored.
Void Contracts
Voiding a contract is a critical action that terminates all ongoing and planned activities associated with that contract. To void a contract, find the contract you wish to void and follow these steps:
Step 1: Click on the kebab icon next to Awaiting for signatures
Step 2: Once the drop-down opens select “Void contract” to block all actions of an agreement.
💡 Note: Voiding a contract is an irreversible action and should be done with caution.