If a contract requires deadlines and contract milestones to be calculated by reference to another contract deadline (e.g. starting date), such floating deadline in the CLM will be adjusted automatically if either the referenced date or the related term changes. Any date shift will automatically apply to all CLM notifications connected to the floating deadline, too.
For example, if a construction agreement stipulates that certain subprojects or materials are to be ordered 12 weeks before the start of construction works, the ultimate order date is immediately recalculated if either the starting date or the 12-week leadtime changes. Moreover, the newly calculcated date itself may be used for calculating a subsequent deadline, which in turn can serve as the starting date for another deadline, and so on and so on.
With Weagree performing the calculations for you, it is therefore possible to instantaneously correct any number of interdependent deadlines; and as Weagree’s CLM notifications are directly tied to those newly calculated dates, timely reminders are always guaranteed no matter how frequently or how radically those dates might change.
