SpotDraft Glossary

Get to know the common terms you'll come across in your SpotDraft experience

People Involved
The person/organisation with whom you're engaging in a contract with.
Business User
This user has all the rights over a contract by virtue of either creating it, or being assigned to it
Contract Creator, Requestor
Legal User
A user who reviews and negotiates on legal terms of a contract. They have edit rights and can accept or reject changes
Contract reviewer
Party Information
A list of stakeholders from the creator party and the counterpart/customer
Counterpart, Contracting party, promisee
A user who approves a contract either on an ad-hoc basis or at pre-set intervals across the contract lifecycle
Internal Stakeholders, legal users
An internal or external stakeholder who receives a PDF copy of the executed contract
Other party, stakeholders
The person who digitally signs a contract, taking it to execution
Signatory, Signature holder
Point of Contact
The primary stakeholder from the opposite party who fills in required info and negotiates on the contract
Main representative
The parent company or legal name
Holding company
The business unit engaging in the contract
Signatory company
Contract Status
Draft Status
The contract has been created using the Template workflow, and is yet to be shared with the other party
Unsent template contract
Redlining Status
The contract has been shared with the other party and is undergoing negotiations
Contract undergoing negotiations
Awaiting Signature Status
The contract is approved by all stakeholders and is awaiting signatures.
Approved contract
Executed Status
Signed contract
Signed Contract
Contract Information
Contract Information
Contains information about the contract's creation, updation, type and allows version control.
Contract data
Allows for colour-coded categorisation of contracts for easier identification
Label, Flag
Reference ID
SpotDraft ID assigned to every contract in the repository for easier identification
SpotDraft ID, Contract Number
Contract Metadata
Summary points with deal particulars for a quick overview of the contract
Metadata Fields, Key Pointers, Summary Points
Related Documents
Contracts or supporting documents with the same or related counterparty that can be linked together for reference
Supporting documents, linked contracts
Opportunity Details
Deal particulars linking the contract on SpotDraft to the integrated CRM entry
CRM entry details
Contract Actions
Pre configured approvals
Automate approvals before sharing contracts with the other parties for review or signatures
Automated approvals
Pre sign approvals
Automated approval that gets triggered before a contract is shared with the other party for signatures
Final approval
Pre send approvals
Automated approval that gets triggered before a contract is shared with the other party for review
Post-creation approval
Ad hoc approvals
Easily request a last-minute or contract specific approval in any stage before a contract is signed
Contract specific approval
Pending with counterparty
Toggle gets enabled when a contract has a pending action on the other party, either review or signing
Due on other party
Request Review
Share a contract with a Legal user for their edits or suggestions
Legal review
Mark for execution
Directly push a contract for signatures
Skip negotiations
Signing Order
Customizable order in which signatories receive the contract for eSigning
eSigning sequence
Review Flow
All the steps taken under the 'Redlining' stage, including internal reviews and collaboration with the counterparty
Negotiations, Internal and external reviews
Assigned to me
Check the ‘Assigned to me’ box on the repository to get all the contracts with some pending action on you. eg. a review, signature setup, etc.
Contracts pending tasks
Workflows/Contract Processes
Contract Workflow
Format chosen to create/upload contracts
Creation process
Contract Type
Standard contract formats for different business activities. For eg. an NDA, MSA, etc
Contract category
Create contracts in minutes by simply filling in deal particulars, generating a standard legal document
Pre-set contract draft
Contract Name
Title of a contract
Contract Title
Third Party Contract
Any contract created outside of SpotDraft can be uploaded for review and signatures
Third party paper, Customer paper
Express Contract
Pre-filled and ready to share contracts via URLs for faster execution of no-negotiation documents
Pre-filled contract link
Sign Contract
A pre-approved contract that can be uploaded for eSigning
upload-for-eSigning contract
Executed Contract
A signed historical contract that can be uploaded on the SpotDraft repository
Historical contract, legacy contract
A set of multiple similar contracts with different particulars created under 'Bulk Contract' workflow
Grouped bulk-send contracts
New Workflow
Allows Licensed Users to create/upload contracts and take them to execution. Signed historical contracts can also be uploaded here
New contract activity
Bulk Contract
Under the New workflow tab, allows a user to send out hundreds of similar contracts like Employment Agreements, IP Acquisition Agreements, etc at once
Mass contracting
Contract Intake Form
Allows Legal users to collect additional information about for Third Party/Sign Contract workflow, automate approvals, and set triggers based on the information received.
Customer contract information form
Form to put in deal particulars using which standard contracts get auto-generated
Contract generation form
Relation Type
Linkage to a previously signed contract with the same or related counterparty. For eg. Parent-Child, Addendum, etc
Contract relation
SpotDraft's Microsoft Word plug-in that enables you to create and edit standard contract templates
Clause Library
Set up all your common terms and clauses in the in-built library for easier referencing and import
Access Control
Add/remove users from your SpotDraft workspace and set up permissions across contracts
User Setup, Permissions setup
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Last updated on August 23, 2023