We’re excited to announce the launch of our new collaborative feature update, Arbiter, to the DocJuris platform! You can take an extended look at the benefits here.
The Arbiter feature update is now available for all customers. Please contact your Customer Success Representative or reach out to us at DocJuris Support (email@example.com) for activation and onboarding onto the Arbiter system.
Arbiter and First Draft Contract Review
Arbiter helps streamline first draft contract review by addressing existing challenges with the process.
There are two common ways to initiate/send a first draft contract to a supplier, counterparty, or other external collaborator:
- Word document with highlights
- Locked PDF document for e-signature
Both Word docs and locked PDFs can take extra time to review because of one simple issue: the format of the document.
Problems with Relying on Word Docs:
- An open Word doc invites unlimited commentary/redlines.
- Word docs are not secure.
- Formatting and data points are lost.
Problems with Relying on PDFs:
- Counterparty will request a Word doc anyway.
- PDFs will be messily converted.
- Upfront work on behalf of the counterparty is required.
DocJuris Arbiter tackles these challenges by making it easier to negotiate contracts between parties. DocJuris Arbiter reduces the number of initial redlines and ensures document integrity with our powerful Contract Editor.
Key Benefits of the Arbiter Feature
There are three key benefits of DocJuris Arbiter that will speed up your current contracting workflows.
Benefit 1: double the speed of internal feedback/approvals
DocJuris Arbiter empowers teams with a collaborative workspace between stakeholders, in-house counsel, and external parties. Each contract review can be co-authored, and internal comments can be reviewed based on the user’s role in the negotiation.
Benefit 2: enrich counterparty review and reduce incoming redlines
Once a contract draft is ready for review, any business or legal user can initiate a simple counterparty workflow. Users can set deadlines, lock down specific contract sections, and invite a counterparty to edit via email. Comments can be added to locked sections, and DocJuris makes it easy to comment and return redlines.
Benefit 3: Automated contract analysis delivered instantly
Without logging into the app, forward your contracts to the DocJuris Review Center. Within seconds, DocJuris will analyze the contract against your playbook and will provide you an analysis report.
Already set up with DocJuris Arbiter? Check out our Quick Start guide.