New Contracts (Edit User)
When you have a new contract to set up in GEMS, you can enter all the necessary information using the Add a Contract Wizard. The Add a Contract Wizard covers each section of a contract, enabling you to enter the details as necessary.
Adding a Contract using the Add a Contract Wizard
To create a new contract, do the following:
Launch the Add a Contract Wizard from one of the following launch points:
Contracts Hub > Add a Contract tile.
Or
Contracts Panel on a Homepage Tab (select Menu > New)
Or
Contracts Snapshot Menu (go to Menu > Add New Contract)
Or
Contract > Basics (click the Add button)
Or
Company > Contract Management > Contracts (click the New Contract button)
In the Add a Contract Wizard, select the type of contract in the Contract Type field. The type of contract you select determines what fields are displayed. You can select the contract from the favorites in the drop-down list or by selecting View All for a complete list of existing contract types. You can also type in the first few letters and then choose the required option from the resultant list. If you have the necessary permissions, you can also add a new Contract Type using the Add New link.
Complete the remaining fields on this part of the Basics screen, noting that any highlighted fields are mandatory.
Contract Title – A default title appears here based on the "Contract Title Options" setting; for more information on the "Contract Title Options" setting, see Contracts Administration (Admin Only).
Please note: The default contract title can be deleted and replaced with a custom title if desired.
Description – Add a description of the contract to provide extra information on the purpose of the contract and how it will be used.
Contract # – Enter the Contract Number if available. The Contract Number is used as part of the Contract Title if this was selected in Contract Title Options (see Contracts Administration (Admin Only)).
External Tracking Number – Enter a value for the External Tracking Number if available.
New or Amended Agreement – Choose "New" or "Amended" from the drop-down list to indicate if this contract is new or is an update on a previously created contract.
Start Date – Use the calendar to enter the contract start date. This can be a date in the past if creating a contract record for an existing contract.
End Date – You must choose either "Yes" or "No" from the End Date drop-down list. If "Yes" is selected, enter an end date for the contract using the calendar; if you select "No," make sure there is no end date entered.
Renewable and Renewal/Notice Date – Select the "Renewal" checkbox if this contract can be renewed, then enter a date in the "Renewal/Notice Date" field. If "Renewable" is selected, an Activity for the contract will be created.
Associated Contracts – Choose one contract from the Lookup List if this contract is to be associated with another.
Recipient of notification when contract document created – Enter a GEMS user in this field who will be notified when this contract record is completed if necessary.
Product – Enter a product name if the contract is related to a particular product.
Location – Enter a location for the contract if necessary.
Confirmed – Select the "Confirmed" checkbox to set these initial contract details as confirmed.
Notes – Enter any notes about the contract in the "Notes" field if necessary.
On the Status section of the Basics screen, enter the details related to the Status.
Contract Status – Click the "Contract Status" field to select or add a status such as "Active," "Draft," "Pending," etc.
Please note: If Approvals are enabled, the status is automatically populated based on the Approval status.
Effective From – Enter the date on which this status takes effect.
Document Status – Select or add the document status, e.g., "Accepted," "Created," or "Registered."
Status Confirmed – Select this checkbox to set the contract status as confirmed.
When you have completed the necessary fields on the Basics screen, you can move to another part of the contract creation process using the links at the top of the wizard or by clicking the Next button.
Please note: The links are numbered, but you don’t necessarily have to follow them in that order.
When you click a link at the top of the setup wizard, this section is added to the contract and is displayed in the left-hand menu. Please refer to Add New Contract Wizard - Sections below to see the fields contained on the other contract setup screens.
To save the contract for completion later, click the Pause button. You can then re-launch the wizard from the Pending Submission tab in the Legacy Approvals panel if that panel is available under your GEMS license.
Please note: The Legacy Approvals panel is available even if Approvals are switched OFF – make sure you have added this panel from the Panel Catalog in Page Settings.
If you have clicked on a section, e.g., Contract Approvers, but realize that it is not needed, you can remove it using the Delete icon that is displayed when you put move your mouse pointer over the label.
Change Request Documents is the final section of the Add a Contract Wizard. This enables you to attach a document to the contract record, such as lease papers or a trade agreement.
Please note: When Contract Approvals are enabled, the Change Request Documents section is mandatory.
Click the Add button and enter the "Description," "Document Type," and "Category" information for the Document. Then browse to the location of the Document, select the file, and then click Save on the Add Documents screen.
To edit a document that was previously added, click the document link to open it, make the necessary changes, and then click Save.
To delete a document from this screen, select the checkbox for the document and click Delete.
Please note: The Find Document and Find Text in Document tiles on the Contracts Homepage return all Documents that contain the term "Contract" in the "Category" field. If you want the Document to be searchable in this way, you must select the correct value in the "Category" field.
Click Finish on the Change Request Documents screen to continue to the final screen of the Add a Contract Wizard.
On the final screen of the wizard, save the new contract record by clicking the Save button.
Please note: If approvals are enabled, there will also be a Submit CR button on this screen – see Contract Approvals for details.
You can now find the contract using the Find a Contract tile on the Contracts homepage or, if you are using a Contracts panel, you can refresh the panel; the contract record will be displayed on the New tab. You can open the contract from here to see the details and make updates/edits.
When you click the contract record link, the contract snapshot is displayed.
Add a Contract Wizard - Sections
Below are descriptions of the fields available under the various sections of the Add a Contract Wizard.
Add Details
The Details screen enables you to enter details of the contract.
Key Elements/Clauses: Enter any important elements of the contract that should be noted.
Contract Term: Enter the figure for the term length of the contract, for example, 1.
Contract Term Period: Choose the frequency of the contract renewal from the drop-down list – "Annually," "Bi-annually," "Daily," "Monthly," "Quarterly," "Weekly."
Contract Termination Details: Enter the details of how the contract can be terminated or the causes for termination of the contract.
Site Number: Enter the number of the site where the contract is held if applicable.
The following fields are primarily related to contracts relating to leases, but are displayed on all contract wizards:
Site Name: Enter the name of the building that the lease is for.
Address: Choose or add the Address of the building.
Lease Type: Choose from the drop-down list – "Leased" or "Owned."
Primary Use: Enter the details of what the premises are primarily used for.
Site Leases: Enter the number of leases that have been already taken out on this site.
Occupancy: Choose either "Occupied" or "Unoccupied" from the drop-down list depending on whether the building is currently in use.
Square Footage: Enter the total area of the building/office in square feet.
Cost Per Square Foot: Enter the cost of the lease per square foot.
Add Key Dates
The Key Dates screen enables you to enter important dates and milestones during the term of the contract.
Date Signed: Enter the date that the contract was signed.
Key Milestone #1: Enter the details of the first milestone that occurs during the contract term.
Key Milestone #2: Enter the details of the second milestone that occurs during the contract term.
Key Milestone #3: Enter the details of the third milestone that occurs during the contract term.
Add Contacts
If you are adding a contact person(s) for your contract, begin by filling in the "Contact Type," which is a mandatory field. There is an Add Another button available enabling you to add additional contact records if necessary.
Contact Type: Select or add the type of contact, for example, "Auditor," "Accountant," "Solicitor," etc.
Contract Contact: Select the contact person for this contract.
Individual Contact: Select the GEMS user contact for this contract if applicable.
Effective From/To: Enter the "Effective From" and " Effective To" dates during which this person is the assigned contact.
Confirmed: Select the "Confirmed" checkbox to set this person as the confirmed contact.
Notes: Enter any additional notes concerning this Contract Contact.
When you have entered the details of the Contact, if you click the Add Another button, the Contact is saved, and the new Contact screen is displayed again. When you have entered all the Contact records, you can click the Contacts link in the left-hand menu to display a summary page of the Contacts you have set up.
The Contacts summary page also enables you to edit and delete the contacts using the Edit and Delete links on the right-hand side.
Please note: The only sections that display a summary page are Contacts, Party To Contracts, and Contract Approvers.
Add Financials
The Financials section enables you to enter details of the contract amount, currency, payment frequency, and so on.
Currency: Select or add the currency that is being used for payments concerning this contract.
Payment Frequency: Click the drop-down list and choose the payment frequency from the options – "Annually," "Monthly," "Other," "Quarterly," or "Semi-Annually."
Estimated Annual Amount: Enter the estimated value of the contract per year.
Total Contract Amount: Enter the total amount that will be paid in this contract.
Form D Filing Date: Enter the date of the Form D filing to the Securities and Exchange Commission (SEC) if applicable.
Insurance Dept Approval Date: Enter the date of the Insurance Department Approval of the contract if applicable.
Add Party to Contracts
This section allows you to enter the details of the individuals or entities that the contract is between.
Party Type: Select or add the type of organization/entity of the Party to Contract.
Party Name: Select or add the individual or entity that is a party to the contract.
Department: Enter the department of the individual/entity that you selected.
Date Effective From: Enter the date from which this party to contract became effective.
Date Effective To: Enter the date that this party to contract is effective to.
Phone Number: Select or add the phone number type, e.g., "Business," "Mobile," etc. Then enter the number in the adjoining field.
Email: Enter the email address of the party to contract.
Notes: Enter any additional information concerning this party to the contract.
Add Contract Approvers
When contract approvals are enabled, define the Contract Approvers on this screen. When you set up a person as an approver in this section, they will receive notifications when this contract is ready for approval.
User: Select an approver for this contract.
Please note: The following fields may be automatically populated after you complete the "User" field.
Department: Enter the department that this person is in.
Name: Enter the full name of the approver.
Email: Enter the email address of the approver.
Please note: Any users that were entered as approvers in the "Approver – User" option within System Management will be displayed by default; see Contracts Administration (Admin Only) for more information on this option.