Each contract is unique with its own combination of clauses, parties, terms and conditions. As buyers and suppliers (and their legal teams) get together, terms change, clauses are inserted, resulting in every new contract being different to the last.
Often, old contracts get filed in a contract repository and new ones are created from scratch. At best, a standard boilerplate contract is gradually reworked into a new contract. More often than not, there’s a lot of reinvention of the wheel involved in this process. Standard clauses are often dropped in favor of less onerous versions and, depending on the commodity, region or line of business, wholly different sets of sub-clauses and addenda may be included or struck.
GEP SMART simplifies the entire contract authoring and creation process. By incorporating a library of best-practice contract templates, allowing you to copy existing contracts, providing clause libraries and automatic inclusion of the contract variables, and letting you edit and store any changes you want, GEP SMART offers maximum flexibility to create the contracts you need to drive maximum value for your business.
Need that slightly amended version of a clause that you added six months ago? That’s a snap — just pull it from the clause library and make the changes you want. With GEP SMART, you only need to create anything once. Now that’s a smart way to create new contracts.