All the templates, standard clauses and business terms will first be organized by the CMS as building blocks of potential agreements. Moreover, a number of different agreements having certain common factors can also be compressed into fewer legally approved templates and clauses.
These will then be organized by the CMS into a library from where contracts can be created and modified by approved persons within the organization.
Modifications may comprise of any of the following: substitution of alternative business terms or clauses from the library, or making legally approved alterations. These will be then entered in the library.
The Contract Management Software can even designate clauses as mandatory, which will be included in the contract before it is presented.
Lastly, the CMS can also provide a Contract Wizard where it will present a number of questions about an agreement and will then automatically create a draft from the clauses and business terms present in the library. Since these are already legally-approved, they will only be reviewed by paralegals so as to save costs and the attorney’s time.
