Glossary
A
Agreement: A legally binding contract that an organization signs with another party for a specific purpose. For example, a company may agree with its supplier to receive certain products or services within a specified time to a certain location.
Amendment: Any changes or updates made to an Agreement, after it is executed. For example, if the requirements of either party changes, then the Agreement has to be amended and executed (signed) again to reflect these changes. All the stakeholders must agree to the changes before the Amendement can take effect. In ICM, the Amendment follows a workflow very similar to that of an Agreement.
Approver: An ICM user that has the an Approval role. This role is resposible for reviewing and approving various entities, such as Agreements and Contract Requests in ICM.
Associated Documents: Any documents pertaining to the Agreement being created, such as Minutes of Meetings (MoMs) and summary of phone conversations. These documents need not be officially approved, but can be uploaded as attachments to the Agreement to give some context to the Agreement.
Attributes: Attributes are used to capture the actual values of various entities, such as company name, address, contract value, dates, and so on. Attributes can:
- be made conditional so they are populated based on the value of other Attributes
- inherit values from associated entities or lookup values from the Masterdata
B
Broadcast: A feature used to send a message to a wide audience, typically to several team members. This feature is available on the Details page.
C
Clause: A specific provision or section in a written agreement. Each Clause addresses a specific aspect as it relates to the entire document. It helps to clearly define the rights, duties and responsibilities of each party under the terms of the agreement.
Collaborate: A feature to share and jointly author an agreement with an external party.
Commitment: A feature to capture specific obligations agreed to by both parties in an agreement. Commitments have to be fulfilled by both parties throughout the agreement lifecycle. For example, specific deliverables that have to be made by the supplier on a regular basis and payments that have to be made by the organization to the supplier, within the agreed time frame.
Contract: See Agreement.
Contract Request: Depending on individual organization's workflow, a Request may need to be raised to have an agreement created and this may be optional or mandatory. A Contract Request contains the information necessary to start drafting an agreement.
Contract Type: Defines the basic structure to create Requests, Clauses, Templates, and Agreements in ICM. It controls what Attributes and Associations should be used. For example, a Master Service Agreement (MSA) Contract Type, defines the Attributes and Associations an MSA will have.
Contributor: A role with view-only access that can observe the Agreement throughout its life cycle. Any changes or feedback can be added through notes so the Primary or Secondary Owner can make the suggested updates. If required, specific rights can be assigned to this role through Role-Action mapping.
D
Dashboard: The first page you see on signing in to ICM. It is customizable to display of pre-defined Key Performance Indicators (KPIs) or Dashboard Tiles.
Delegate: A feature that allows you to transfer or assign all your tasks to another user for a specified duration, if you expect to be unavailable during that time. Both you and the delegated user receive the notifications for all your tasks. These notifications are marked as read when either of you open it. Any number of delegations can be set as long as the dates don’t overlap.
Deviation: Any change to what was originally agreed to in an executed agreement, is known as a deviation. These changes have to be reviewed and approved by both parties.
Deviation Approval: Any changes to the originally executed agreement must be approved before they can take effect. Deviation approvals can be auto-triggered when changes are made to certain clauses. Deviation approvers can be pre-defined based on the severity of the deviations.
E
Extended View: Data can be displayed in 3 user-selected views: Grid, Extended and Tile on most ICM pages. The Extended view displays the chosen fields in a single row (compact view).
External Reviewer: Third Party reviewer assigned to review an agreement during the authoring phase.
External Signatory: An individual who is a binding signatory for the other party.
G
Grid View: Data can be displayed in 3 user-selected views: Grid, Extended and Tile. The Grid view displays the chosen fields in columns (tabular form).
I
ICM: Icertis Contract Management. It is an integrated platform to create, execute, and manage agreements with enhanced efficiency and control.
Internal Signatory: An individual who is the binding signatory for your organization.
Is Conditional: An On/Off flag available on the Attributes tab to make an attribute conditionally visible based on a value of another attribute.
Is Lookup: An On/Off flag available on the Attributes tab to make an attribute a lookup for another attribute.
Is Searchable: An On/Off flag available on the Attributes tab to make an attribute searchable.
Is Supersedable: An On/Off flag available on the Attributes tab to replace the existing value of an attribute by a new value, in case of a deviation.
K
Key Performance Indicators (KPI): Pre-configured saved searches that are relevant for the user role, based on which the performance of specific activities are measured. For example, My Agreements to show all Agreements created by me.
L
Lock: A feature to temporarily lock agreements from being updated by any other user.
M
Masterdata: Core data essential to operations of businesses and its business units that does not change very often. In ICM, employee or vendor ID, part numbers, state codes, country codes, etc. are examples of Masterdata.
Metadata: See Attributes.
N
Notifications: Notifications that you receive for events or for the tasks that require your action.
O
Own Paper: Company owned agreement template that has company specific clause, terms, and language.
P
Primary Owner: User who has initiated or created the agreement.
Publish: After the Contract Type or Agreement is approved, you publish it to make it available for use in the system.
Q
QR Code: It is a machine-readable code that contains the information related to the agreement. It appears on the agreement PDF after it is approved.
R
Request: When you want to start creating a new agreement, you can raise a request with the the necessary information required to create the agreement. Raising a request may be optional or mandatory depending on how the ICM workflow is configured in your organization.
S
Secondary Owner: Co-owner of the agreement record who has the same set of action privileges as the primary owner but who cannot remove the primary owner from the team.
Stand Alone Agreement: In ICM, an agreement that is initiated without a contract request.
T
Template: Basic layout for an agreement in which you can pre-define the fields you want to include in the agreement that you are creating.
Third Party: It refers to supplier or an external party.
Third Party Paper: Agreement document not owned by the company and taken from other party such as supplier.
Turnaround Time: The duration from the date of creation of an agreement till the date of its execution.
