Collaborate between teams on Formality
Practical guide to understand the features that enable teams to better collaborate around assets.
Between emails, spreadsheets, shared folders and business software, each team often manages contracts its own way. Result: information is scattered, communications get lost and duplicates pile up. With Formality, everyone finally works on the same source of truth.
📝 Internal notes
Where? On the record of an Agreement, an Entity or a Counterparty.
Why? To share context, a remark or an instruction between colleagues only.
Example: an Asset Manager writes “This tenant already requested a payment plan last year, keep in mind” so the Finance team takes it into account.
Result: no more Post-its and unfindable emails, the info stays attached directly to the contract.
Discover more information about internal notes.
🔒 Precise permissions
Principle: each document is shared with the right groups (Legal, Finance, Operations…).
Benefit: everyone accesses what they should see, no more.
Result: secure, simple sharing, with clear audit trail of who saw what.
⏰ Reminders & alerts
Automatic: created when importing a contract to track deadlines (renewals, end dates, obligations…).
Ad hoc: added at any time, for yourself or for a team.
Examples:
3 months before a lease ends, the Operations group receives a reminder to prepare renegotiation, and Finance a budget alert.
After an internal meeting, a lawyer schedules a personal reminder to reread a sensitive clause.
Result: no more forgotten dates, no more follow-ups falling through the cracks.
📑 Templates validated by Legal
Where? In Formality’s template library.
Benefit: always the latest validated version, with its update date visible.
How does it work?
Choose the contract type (NDA, lease, services agreement…).
Select the entities: their legal contact details are pre-filled.
Fill only the variable fields (amount, duration, counterparty).
👉 Result: no more time lost searching for “the right template”, fewer errors in contact details. Everything is ready to sign.
🚀 In summary
With its internal notes, its targeted permissions, its smart reminders and its validated templates, Formality puts an end to siloed work. Each team collaborates on a single, clear and secure basis: your contracts finally become a collective process, from the first draft to renewal.
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