Entering a new contract in Contract Management

Mochadocs - Contract Management - Gears V1

Creating a record for a new contract within Contract Management.

Mochadocs serves as a centralized repository for all contracts within your organization. Adding contracts to Mochadocs ensures that critical documen, ts and data are stored in one location, promoting easy access and efficient management.

Step 1 - Give your contract context. - Name

To provide context for giving a contract a name, you can explain the importance of the contract name and how it helps in contract management and organization. Examples are "Coffee Machine 2nd Floor", "Contract Management Software" or "Burglary Alarm Service Agreement Amsterdam Office"

Add a contract name

Step 2 - Select the contract parties

In Mochadocs Contract Management software, one essential step is the inclusion of legal contract parties. Contract parties refer to the individuals or organizations involved in a contract, such as the service provider, client, vendor, or any other relevant legal stakeholders. Adding these parties into the contract management software is a fundamental aspect of ensuring accurate and comprehensive contract records.

Selecting the Legal Contract Parties - Relations

Step 3 - Choose the contract type for this particular contract.

Selecting the appropriate contract type is an important and critical decision in the contract management process. It defines the framework for rights, obligations, and responsibilities. The chosen contract type can significantly impact various aspects of the agreement. It automatically creates subjects, (repeatable) tasks, entities and structured data.

Select the Contract Type for this particular contract

Step 4 - Select the start date of the contract.

The start date of a contract can typically be found in the contract document itself. It is a crucial piece of information and is usually mentioned early in the contract, often within the introductory section or at the beginning of the terms and conditions. Additionally, the start date may be specified in any associated correspondence or communication related to the contract.

Step 5 - Select the end date of the contract.

The end date of a contract can be found in the contract document itself, usually within the terms and conditions or a section specifically dedicated to contract duration. It is crucial information that specifies when the contractual obligations and terms expire. Use the date picker if the contract end date is a fixed date. If the contract doesn't have an end date, check the "No end date" box. Follow step 6 If the contract doesn't have an end date but a term.

Step 6 - or Select the end date term.

You can typically find the term or duration of a contract in the contract document itself. This information is essential, as it specifies how long the contractual relationship between the parties will last. By adding the term Mochadocs will automatically recalculate the proper end date.

Step 7 - Select the agreed notice period

The notice period of a contract, also known as a notice provision or termination notice period, is typically specified within the contract document itself. This clause outlines the amount of time either party must provide notice before terminating or making changes to the contract. Having a notice period helps contract parties manage the transition when making changes or terminating a contract. It promotes fairness, transparency, and smooth contract management.

Step 8 - Select the auto-renewal period, if applicable.

An automated renewal, also known as an automatic renewal or auto-renewal, is a provision in a contract that specifies that the contract will automatically renew for an additional term or period without the need for explicit action or agreement from the parties involved. Automated renewals can be convenient in certain situations where both parties expect the ongoing relationship to continue without major changes.

Step 9 - Select owner of the contract.

The contract owner is typically accountable for various aspects of the contract's lifecycle, including its negotiation, execution, monitoring, compliance, and eventual termination or renewal.

Step 10 - Finally add the original signed contract to the meta data.

The contract owner is typically accountable for various aspects of the contract's lifecycle, including its negotiation, execution, monitoring, compliance, and eventual termination or renewal.

Add the original signed contract to the contractual meta data

And then

Save contract button

and you're done!

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Select CLM information in the Mochadocs eBooks library

Where is my Contract?

In a filing cabinet, in a box, in that locked cabinet, in the safe, in the archive, on the server, in a folder, in a cabinet, on your hard drive, in the folders at the administration, at the head office, at the branch in the region, at the management, at your desk, etc. etc. By the time you ask the question, it is often already too late. This eBook is about the absolute basis of contract management: the location of your contract.

Professional Contract Management implementation Best Practices

Many contracts are signed. We see many cooperation agreements, but also other agreements such as service contracts, purchase contracts, insurance and facility contracts. To make the contracts in your company manageable, it is necessary to manage these contracts. This starts with managing the end dates, then retrieving the contracts and then being able to manage the content of the contracts.

How do you manage the content of a contract?

How do you manage the content of a contract?
Once you know where your contracts are and when they expire (or renew), it's time to look at the content. What agreements are in the contract? Who should keep track of it? And how do you organize that?

How do you manage the end date of a contract for hotels?

Managing contracts is not difficult at all. But it is incredibly important that you have a good grasp of the basics. Start with managing a contract at the end date. Unfortunately, this is precisely what often goes wrong in the hotel industry. That is why we have written an eBook that answers the following important questions: What is the importance of managing contracts by expiry date? Why do many hotel (chain)s fail? How can you manage contracts by end date?

How to manage a contract on end date

Managing contracts is not difficult at all. But it is incredibly important that you have a good grasp of the basics. Start with managing a contract at the end date. Unfortunately, that is precisely what often goes wrong in organizations. That is why we have written an eBook that answers the following important questions: What is the importance of managing contracts by expiry date? Why do many companies fail? How can you manage contracts by end date?

Managing contracts from multiple locations, how can you start today?

Perhaps your company has hundreds of contracts spread across offices in London, New York and Shanghai. Perhaps it is about a filing cabinet in Atlanta and a desk drawer in San Francisco. It doesn't matter much in terms of content. Everyone who works in or with a multi-site organization faces the same important questions about Contract Management.

The 14 Contract Management Software requirements

Selecting contract management software can be quite complicated. You often tend to name functionalities. The real question is whether you need these features for managing contracts or for something else.

Contract Management stakeholders

To understand how you can manage a contract based on content, it is useful to know how that content is created. Who is responsible for this? That process therefore starts before a contract is signed. And in that process the stakeholders come forward (the stakeholders).

Contract Management in healthcare, Grip and Overview

In the first episode of this series you can read that many contract managers in the healthcare sector have been dealing with a large number of new contract (parties) since 2015. You need a system to keep track of and keep a grip on all those agreements.

Contract Management in healthcare, Cloud Solution is a must

Who is involved in contract agreements? Who are the stakeholders? You prefer to ensure that each stakeholder has access to contract agreements relevant to him/her and is notified when he/she needs to take action.