Glossary of key terms

Agreement

A agreement, it’s the envelope that groups all documents related to the same project or contractual relationship. It contains the main contract, its amendments, and the associated annexes. The advantage? A single summary sheet that gives you the overall view without having to reread each document separately. You can see at a glance what each amendment changes in the original contract. And if your permissions allow, you can customize fields, update information, or add new documents.

Alerts

Contact

The contacts group all the people and organizations related to your contracts. They can be linked to both your internal entities and your external partners, in order to centralize stakeholders, simplify their management and ensure reliable tracking.

Contract library

The contract library allows you to centralize all your contracts, find them easily and analyze their data to better anticipate your deadlines and control your risks.

Counterparty

A counterparty refers to any company external to your organization : client, partner, supplier, service provider… Formality groups them so you can visualize, at a glance, all your contractual relationships with each of them. You can thus see the audit trail, the documents shared and the ongoing commitments, all centralized in one place.

Deadline

A deadline concerns a key date related to an agreement, such as a renewal date, termination date or price review. Deadlines can trigger reminders or automatic workflows.

Entity

A entity represents one of your internal structures : parent company, subsidiary, asset management company (assetco), etc. It’s your legal and operational organizational chart in Formality. You create them, organize them, and retain control over all their information. This facilitates the management of your portfolios and the clear assignment of agreements to the correct structure.

Templates

The templates are standardized document frameworks created in Formality. They allow you to quickly generate consistent contracts tailored to your recurring needs, while ensuring legal compliance and time savings.

Group

The groups allow you to manage access rights in Formality. By organizing your users by team or role (legal, finance, management, asset management…), you decide who can view, modify or share contracts and documents.

View

The views are filters applied to your contract library. They allow you to create custom groupings — by geography, project or any other recurring need — to quickly access the contracts that concern you.

Workflow

A workflow is a sequence of tasks already ready, which are triggered automatically at specific times, for example before or after an agreement deadline. Each step is assigned to the right team, ensuring nothing is forgotten. If you are an administrator, you can create, adjust or delete these workflows so they fit perfectly with your organization.