Reviewing and approving contracts can be both tedious and time-consuming. But in some law departments, literally thousands of contracts are written every year, many of them requiring action from several parties in multiple locations, both on paper and electronically.
LAWTRAC's contract management component brings all this under control. Once a contract is in the system, it's easily accessible, searchable, and linked to any related matters.
Just another matter
To LAWTRAC, each new contract is just one more legal matter in the system. When a contract is written, a matter is opened that includes the tracking of both the electronic and the paper files.
As the contract documents move through the system, gathering signatures, amendments, riders, etc., its status is updated on the main screen.
When fully approved, the executed contract can then be scanned and entered into the central document repository, where copies can be retrieved at any time, by any authorized party.
Tracking the dates, issuing reminders
When a contract is entered into LAWTRAC, all its key dates and action items are entered as well. Payment dates, renewal dates, filing requirements, termination clauses and other milestones are all accessible from the main screen.
As these trigger events approach, email reminder notices are automatically generated and sent to any affected party.
Learn about LAWTRAC Legal Hold Management
• Tracking of contracts through execution
• Milestone dates tracked automatically
• Reminders alert parties to trigger events
