What is a Counterparty?
In your projects, each contract involves multiple stakeholders: project owners, operators, lessors, tenants, subcontractors… Formality centralizes all these Parties to allow you to clearly identify who is committed and in what capacity.
Parties' Roles
In Formality, you can assign a specific role to each counterparty to better contextualize your agreements:
Internal (e.g.: your company or one of your subsidiaries)
External (e.g.: a supplier or a client)
Lessors and tenants for your real estate contracts
Any other custom role according to your needs
Customization
Roles can be adapted to match your internal processes.
Each new Party added can be enriched with its essential information (contact details, entity represented, etc.).
Overview by Party
From a Party's profile, you can:
View all related agreements (main contracts, amendments, annexes)
Identify this Party's contractual responsibilities and commitments
Easily track its involvement in your projects, whether it is a maintenance contract for a logistics site or a commercial lease
Conclusion
With Formality, you have a structured view of all your Parties, internal and external. Whether you are overseeing the construction of a new railway line or the management of multiple office buildings, you keep all stakeholders and their contractual obligations under control.
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