Contract amendments
Summarize
Summary of Contract amendments
The contract amendment workflow in ServiceNow streamlines contract lifecycle management by enabling users to initiate, track, and finalize amendments to existing contracts while maintaining an audit trail. Amendments allow additions, removals, or updates to contract terms without replacing the entire contract. Users submit amendment requests through the Amendment request intake form in the Employee Center, differentiating between new contracts and amendments via theRequest typefield.
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Key Features
- Request differentiation: The Request type field clearly distinguishes between new contract requests and amendment requests, visible in contract details and configuration records.
- Paper types: Supports both own-paper and third-party amendments, with third-party amendments limited to single contract types.
- Amendment intake form and record producer: Available out-of-the-box (OOB) for submitting amendment requests; customizable record producers can be created to suit specific workflows.
- Base system configurations: Includes sample contract templates, template rules, and configurations (e.g., NDA Amendment-SignBlocks) to generate amendment documents and map fields appropriately.
- Contract repository tabs:
- Contract Documents: Access to all contract and amendment documents.
- Contract Requests: Lists all related contract and amendment requests.
- Amendment Field Changes: Logs detailed changes made through amendments for easy tracking.
- Contract amendment workflow:
- Requesters initiate amendments via Employee Center, selecting or entering contract details.
- Fulfillers assign requests, link parent contracts if needed, review and update contract details, upload revised documents, and finalize through approval and signature workflows.
- Signed amendments are stored centrally and linked to the parent contract for consolidated management.
- Now Assist in Contract Management: Obligation and metadata extraction are not supported for amendment documents; however, Contract Analysis is available to review and analyze amendments once configured correctly.
Practical Use for ServiceNow Customers
ServiceNow customers can leverage this workflow to efficiently manage contract amendments without recreating entire contracts, maintaining version control and audit trails seamlessly. The ability to submit amendments through a user-friendly intake form and track detailed changes enhances transparency and compliance. Centralized storage of signed amendments under parent contracts simplifies document management and retrieval. While some AI-driven features are limited for amendments, Contract Analysis remains a valuable tool for reviewing amendment content.
Key Actions
- Submit amendment requests via the Employee Center intake form.
- Track and review amendment requests and their statuses as legal users.
- Use the contract repository to view amendment details, documents, and field change logs.
- Customize record producers if needed to tailor amendment intake workflows.
- Complete necessary configurations to enable Contract Analysis for amendments.
The contract amendment workflow enhances contract lifecycle management by enabling you to initiate, track, and finalize amendments to existing contracts with an audit trail.
Amendments can be made by adding, removing, or updating terms, without the need to replace the entire contract.
You can use the Amendment request intake form available in the Employee Center to submit an amendment request.
Distinguish contract and amendment request
The field, Request type, differentiates contract and amendment requests. For amendment request, the value is Amendment and for contract request its New contract.
The Request type field is displayed in the contract details secondary header, and list pages making it easy to differentiate between the two request types.
- Contract template rules
- Contract configurations
Types of paper for an amendment request
Amendment intake form and record producer
The intake form and record producer for an amendment are available in the base system, enabling you to submit an amendment requests.
You can also create a customized record producer by copying a base system (OOB) record producer to reuse its existing configuration settings. For more information on how to create record producer, see Create a legal contract intake workflow.
While linking the record producer to an intake form, verify that the Amendment request indicator is selected in the Options field.
- Contract template (Sample - NDA Amendment-SignBlocks) used to generate amendment document for own-paper based amendment request.
- Contract template rule (Sample - NDA Amendment-SignBlocks) to identify the contract template used for generating a contract document for an amendment request.
- Contract Configuration (Sample - NDA Amendment-SignBlocks) to define and map the fields that will be populated in the amendment document.
View contract amendment details
- Contract Documents: Provides access to all documents related to the signed contracts, including those generated or updated as part of amendment processes.
- Contract Requests: Displays all contract and amendment requests associated with the contract.
- Amendment Field Changes: Shows a detailed log of all field changes made through amendments, enabling easy tracking of modifications over time.
Contract amendment workflow
The contract amendment workflow might progress as follows:- The contract requester does the following:
- Initiates an amendment request from the Employee Center.
- Selects a contract for amendment or enters contract details manually.Note:When a contract is selected while submitting an amendment request, it’s automatically linked as the parent contract for the amendment request.
- Enters amendment details and submits the request.
- The contract fulfiller does the following:
- Assign the amendment contract request.
- Link a parent contract, if it’s already not linked.
- Modify legal request.
- Review the details of the amendment requested.
- Update the contract details and contract document according to the amendment request.
- Upload revised contract document using Create revision option.
- Finalizes the contract amendment using the review, approval, and signature workflow.
- After all signatories have approved the document, the signed amendment is attached to the contract repository record.
- The contract repository record displays the amendment details in the Contract Documents, Contract Requests, and Amendment Field Changes tabs.
- The signed amendment is stored on the ServiceNow instance or an external storage system and referenced in the contract repository. The signed contract and its amendment documents are stored in a centralized repository under the parent contract for easy access and manage all related documents from a single location. The field values that have been modified is updated in the amendment according to the contract configuration mapping.
Now Assist in Contract Management features for amendment documents
For amendment documents, Now Assist in Contract Management features of obligation extraction or metadata extraction aren’t supported. However, Contract Analysis is supported when all the configurations are complete and valid, enabling users to review and analyze amendments effectively.
For more information, see Now Assist in Contract Management.