For law firms, as well as for intracompany templates, the selection of parties to a contract can be restricted to the party database designated in the template. This may be either the ‘own parties’ or the ‘other parties’ database, so that the end-user will only be able to select either your own organisation’s entities or other (unaffiliated) entities.
Additionally, for large transactions (projects for M&A or financing transactions) or conversely for contracts of a more personal nature (such as employment agreements), it is possible to store all party data inside the contract entries. This will keep the parties outside the entity management’s party database altogether, safeguarding confidentiality.
