Contract Authoring Concepts

Using Vlocity CLM, contract authoring is a standardized and repeatable process. Contracts are based on document templates, which are based on clauses from the clause library. The clause library is a collection of pre-approved legal language and terms. Once created, a template can be used to build multiple contracts, ensuring that only legally approved terms appear in the contract. Vlocity CLM tracks any changes a user makes to a contract, indicating the individual’s name. Approvals are obtained before a contract is sent to a customer.

You can create reusable document templates in the Document Template Designer. Other users can create contracts based on these templates. Document templates consist of clauses, images, data, and signature information, as well as format and display information. When you generate contract documents from document templates, Vlocity CLM merges the contract document template with data from the contract and the appropriate clauses from the clause library.

Note

Do not confuse Vlocity Document Templates with Vlocity Templates. Vlocity Document Templates provide a basis for contracts and other documents you create in Vlocity. Vlocity Templates provide a basis for content in the Vlocity app, such as Cards, Console, and Omniscripts. For more information, see Templates.

Vlocity CLM is integrated with the sales process. You can create a contract from an opportunity, order, or quote and the information flows to the next stage of the sales process. You can also drive order and quote pricing based on frame contracts.