Name: ConsensusDOCS
Author: ConsensusDOCS

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ConsensusDOCS is a collection of standardized construction contract agreements developed by ConsensusDocs. According to the vendor, the product aims to provide a fair risk allocation and best practices for construction projects. It is designed for companies of all sizes involved in the construction industry, including owners, contractors, subcontractors, designers, and suppliers. The product is widely used by construction companies, architects, engineering firms, subcontractors, trade contractors, and project and program managers.

## Key Features

**Premier Construction Contract Language**: ConsensusDOCS provides industry-standard language for construction contracts, aiming to ensure clarity and comprehensive coverage of all project aspects, according to the vendor.

**Comprehensive Contract Catalog**: ConsensusDOCS offers over 110 standardized construction contract agreements that cover various project types and delivery methods, including general contracting, collaborative projects, design-build projects, CM at-risk projects, subcontracting, program management, and public-private partnerships, as claimed by the vendor.

**Time and Cost Savings**: According to the vendor, using ConsensusDOCS can potentially save time and costs associated with contract initiation, negotiation, and revisions. The standardized contract language reduces the need for extensive negotiations and legal consultations, streamlining the contract process and potentially allowing projects to start and finish sooner.

**Risk Allocation and Best Practices**: ConsensusDOCS contracts are developed with a focus on fair risk allocation among all project participants, as stated by the vendor. The contracts aim to serve the project as a whole, ensuring a balanced distribution of risk and responsibilities.

**Easy Customization and Editing**: ConsensusDOCS contracts are designed to be easily customized to reflect the specific needs and requirements of an owner or project, according to the vendor. The contracts can be edited to address payment terms, insurance requirements, submittals, dispute resolution methods, and other project-specific details.

**Comprehensive Coverage for Different Project Participants**: ConsensusDOCS offers contract documents that cater to the specific needs of different project participants, including owners, contractors, subcontractors, designers, and suppliers, as claimed by the vendor. This ensures that all parties have appropriate contractual protections and obligations.

**Clear Rights, Responsibilities, and Obligations**: ConsensusDOCS contract language clearly defines the rights, responsibilities, and obligations of all parties involved in the construction project, according to the vendor. This helps to minimize ambiguity and potential disputes, promoting a smooth and efficient project execution.

**Standardized Industry Best Practices**: The contract language in ConsensusDOCS incorporates best practices and industry standards, providing a reliable framework for construction projects, as stated by the vendor. This promotes collaboration and cooperation among all parties and helps to ensure successful project outcomes.

**Flexibility and Customization**: ConsensusDOCS contracts allow for flexibility and customization to meet the specific needs of each project, according to the vendor. Project participants can tailor the contract documents to address project-specific requirements, ensuring that the contract accurately reflects the unique characteristics of the construction project.

**Minimized Risk of Disputes and Claims**: According to the vendor, the clear and comprehensive contract language in ConsensusDOCS helps to minimize the risk of disputes and claims. By clearly defining the rights, responsibilities, and obligations of all parties, the contracts provide a solid foundation for project execution, reducing the likelihood of conflicts and legal disputes.

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ConsensusDOCS

Contract management software is a program or series of related programs for storing and managing legal agreements such as contracts with vendors, leases and licensing agreements.

Contract Management

Contract Authoring

Features related to the contract authoring process.

Contract creation

Includes a document generator and tools for creating new contracts.

Contract templates

Allows users to set up templates or templatize old contracts in order to make new contract creation easier and more consistent.

Clause library/saved fields

Users can save certain fields of a contract for re-use; these may be stored in a template or a clause library.

Integration to CPQ

Integrates to CPQ software so that calculated quotes/configuration details can feed into contracts. This is an important element of automation in the contract authoring process.

PDF generator

Users can generate PDFs of contract documents.

Contract attachments

Users can attach other documents, like invoices, images, meeting minutes, memos, etc, to contracts.

Guided logic

Automated questions (based on company policies and the circumstances of the deal) help with the contract authoring process; this is an example of partial automation.

Contract Collaboration

Features related to collaborating on contracts.

Contract sharing

Users can easily and securely share contracts with internal users and external users. Contracts are accessible.

Contract editing

Contracts can go through multiple drafts and revisions; the software supports multiple versions and version comparison.

Contract merge

Multiple versions of a contract can be merged.

Collaborating on contracts

Internal and external users can collaborate on contracts without changing the text of the contract; this may be done through comments, questions, and/or message board conversations.

MS Word plug-in

Users can make changes to contract language using Microsoft Word.

Approval process

Approval workflows can be configured to streamline and automate the approval process; the approval process is helpful and convenient.

Parallel approvals

Users can set up complex workflows to handle parallel approvals.

Interdepartmental workflows

Users can set up interdepartmental workflows so that contracts can flow between teams in a logical and organized manner.

Contract Monitoring

Features that enable users to monitor the status of contracts.

Contract database

Contracts are stored and organized in a central repository.

VORs

Allows users to send/receive variation order requests and coordinate these with contracts.

Contract search

Users can easily look up contracts within the database.

Contract milestone reminders & alerts

Users can schedule reminders and/or trigger alerts according to contract milestones.

Custom contract reports

Users can create custom reports about the status of contracts, contract timelines, efficiency, and revenue tied to contracts.

Tracking contract status

Users can track the status of a contract as it moves through the approval process and beyond.

Salesforce integration

Integrates to Salesforce so that contracts are tied to contact’s CRM records.

Compliance check

Users can define and enforce complex business rules related to compliance regulations; helps automate or partially automate contract compliance check.

Tools and features to aid in contract management and formation.

Contract Storage

Centralized storage and management of all contracts in one place.

Document Management

Ability to upload, organize, and track changes to contract documents.

Advanced Search and Filtering

Efficient search functionality and advanced filters to quickly locate specific contracts or clause language.

Version Controls

Ability to track and manage different versions of contracts, including changes made and the history of revisions.

Customizable Contract Templates

Pre-defined templates that can be customized for different types of contracts.

Workflow Acceleration

Streamline the contract approval process by automating workflows and notifications.

E-Signatures

Capability to electronically verify user signatures, eliminating the need for physical signatures and enhancing efficiency.

Reminders and Alerts

Automated alerts and reminders for important contract dates, deadlines, and milestones.

Analytics and Reporting

Generate reports and gather insights on contract status, performance, and compliance.

Integration with other Systems

Ability to integrate with other tools, such as CRM or ERP systems, to exchange contract data seamlessly.

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ConsensusDOCS

Overview

What is ConsensusDOCS?