How to review & approve a contract?

Objectives

• Review and Approval of the contract

Steps

After drafting and collaborating on a contract and once your contract is ready, it can be moved now to the Approval Center to be approved. Make sure to change the status to Under Approval.

The Approval center can be configured based on different business criteria and contract types from the system settings. 

However, approvers can be added manually by users from the Approval Center tab within each contract.

When adding a new approver, you have two mandatory fields: Label and approval Order.

• Label: Select the Approval label 
• Approvers: You can select users, collaborators, or Persons who are authorized to approve this specific contract with Approval Orders.
• Users Groups: Specify User Group(s) which are authorized to approve the specific Contract with Approval Orders.
• Select if this approver is the manager of the requester or not 
• You can also select the board member and the shareholder required from your contract party.
• Approval Order

From the Approval Center, you can show a summary, open the contract to approve, send an email directly to a specific person with the contract attached, and view the approvers.

The approvers can also start a negotiation, and approve or reject the contract. 

You have also a section for the approval history, where you can see the actions done, the changes, the date and time, and comments. And you can from the action wheel export these details to excel.

For more information about App4Legal, kindly reach out to us at help@app4legal.com.

Thank you!