Legal Contract Database

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Legal Contract Database

Legal Contract Database

Contract Storage Database

Meredith Evancie

Michael Cho

📜 Background

Here at Coda, we have a small and lean legal team that services a lot of customers. The majority of our customers electronically accept our online legal terms, but we sometimes enter into negotiated contracts with larger customers. To store these contracts, we use Coda.

We set up a contracts storage database to store the final PDF and Word versions of the contracts. We start by

adding the counterparty entity⁠

and then

adding the contract⁠

. When we add the contract, we’ve included a number of fields that allow us to track basic contract information like contract effective date, annual contract value, renewal terms, payment, etc.

🔑 Tracking Key Contract Terms

We have also created a few subpages that give us clear views of some of the key terms we track —for example, our contract expiration/renewal dates, liability caps, privacy/breach notification obligations, payment terms and subprocessor notification requirements.

⁠

Expiring Contracts⁠

: This subpage allows us to see if there are any contracts without automatic renewal terms that will be expiring shortly. If there are, we reach out to them to get ahead of any renewal discussions.

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Liability Cap Analysis⁠

: We have found that it is useful to have a summary of our liability caps when negotiating with new parties and working with our insurance providers on Cyber Liability insurance.

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Privacy Breach Notifications⁠

: We have our privacy/breach notification requirements summarized in the unlucky event we ever need to comply with those obligations.

⁠

Payment Terms Summary⁠

: We summarize the payment timing obligations of our customers for our accounting team.

⁠

Subprocessor Notification⁠

: When we add or remove subprocessors to our platform, we’re often required by our customers to notify them of these changes.

Of course, there’s no limit to the amount of data that can be captured—you can add, sort, and analyze any data field you create and input for your contracts!

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👉 Get started

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Clear All Sample Data

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If you would like to try this Contract Storage Database and need help implementing it, the Coda team has graciously offered to help. Click this button to get assistance:

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Connect with a Rituals Architect

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A few of the 25,000+ teams that 🏃‍♀️ on Coda.

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Coda is an all-in-one doc for your team’s unique processes — the rituals that help you succeed. Teams that use Coda get rid of hundreds of documents, spreadsheets, and even bespoke apps, to work quickly and clearly in one place.

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