This article is intended for buyers. If you're a supplier, check out our supplier help articles here.
This article will cover:
Contract Templates Overview
Templates serve as pre-formatted bases for contracts, offering guidance for creating new blank contracts. They play a vital role in standardising processes, including Summary, Details, Contract, Reminders, and Review & Exit criteria.
You can locate templates within the Contracts tab in the top left hand box to expedite the creation of new requests.
Using templates aligns with DeepStream's best practices, saving time, supporting users in adhering to processes, and standardising the business's request procedures while eliminating manual tasks.
How to Build a Blank Contract Template
Under Contracts click on Templates in the top left hand box.
Then click on the blue + New template button on the right hand side and select Blank template.
Name the New Template.
Click Create template.
Work through the Summary tab > Details tab > Contract tab > Team tab > Reminders tab > Review & Send tab, filling in all required fields.
Step 1: Summary
Creating a template closely mirrors creating a contract. The information required in the ‘Summary’ tab will provide an overview of the contracts basic details including:
Contract name
Contract overview
Start date
Expiry date
It will then ask you to fill out information on:
Custom milestones: These are checkpoints that will trigger a notification to remind you as the Buyer and/or other parties that the milestone has been reached.
Spend data: Select the Contract value and currency. This field is for internal purposes only and is never visible to suppliers.
Products and Services: Search for the UNSPSC code you want to attach to your contract.
Reference Numbers: There will be an automated unique reference number which cannot be changed, however, you can also enter your own option reference number associated with this contract.
Step 2: Details
Now move to the Details tab to add Pages. Pages help organise buyer information sent to suppliers to respond to.
To add a new Page click + Add page and input a name.
There is no limit on the number of pages you can save into a template. For more details on building sections within Pages click here.
Fill in the Description (optional) field to provide more instructions to the supplier on what the section contains or how to complete the requirements.
To add a page:
Click the Details tab.
Select the + Add Page button and name the page.
Choose the blue + Add Section button.
You can either choose to add Documents or Line items.
Documents
Enter a Title.
Fill in the Description (optional) field to provide more instructions to the supplier on what the section contains or how to complete the requirements.
Upload your desired document and enter a description.
Select what you require from the counterparty by using the dropdown menu next to Requirements:
Accept the document
Accept the document or deviate
Upload completed document
Upload document or deviate
Upload requested document
For information only
✏️ Please Note: You will have the option to Bulk Upload by clicking the Bulk Upload button in the right hand corner, or Add documents one at a time by clicking the + Add document button.
Line items
Enter a Title.
Fill in the Description (optional) field to provide more instructions to the supplier on what the section contains or how to complete the requirements.
Select the Section Configuration drop down and choose your supplier currency.
Fill in the Description, Unit and Quantity for your Line items.
If you wish to upload line items from a CSV click the 'More actions' button.
You can choose to Download CSV or Import from CSV.
✏️ Please Note: Users will only be able to import one version of a linked line item that appears in both an RFP stage and an auction stage.
Step 3: Contracts
The Contract tab is where you upload your contract document to share with your supplier. This will form the basis of an exchange where both parties will agree on the terms and upload countersigned versions of the contract.
To add your contract document:
Click on the Edit button
Click on the + Add button
Click Browse and locate the file you want to upload
The ‘Description’ field will auto-populate the name of your file, but you can edit should you wish.
Click the E-signature toggle on or off depending on whether you require an E-signature on the contract.
Decide if you want to approve the contract before sending it for internal counter-signature. If yes, toggle Require approval on.
Select the Signers you want on the contract.
Step 4: Reminders
✏️ Please Note: You can only create milestone reminders as part of your Contracts template.
Click + New reminder in the Reminders box.
Fill in the name of your reminder.
Choose when you would like your reminder to be sent. You can select between Before, On , or After the Start date or the Expiry date.
Then select how many Days, Months, or Years after you would like the reminder to be sent.
Add any optional notes.
Step 5: Review & Exit
Please review your template, make sure you're happy with it then click Save and exit.
Congratulations, you've created your template.
This can now be found in your templates library in the box on the lefthand side.
How to Manage Contract Templates
To edit or delete templates, click the '...' next to any template on the Contracts table.
For any further queries, please use our live chat function or email: support@deepstreamtech.com