Acceptable Alternatives: alternative options for a Key Term that a Sender will Auto-Accept if selected by the Recipient during Guided Review.
Accepted: means a proposed Key Term, Additional Term or Attachment has been accepted by both parties.
Additional Terms: additions to or modifications of a Standard Agreement. See Playbook for examples.
Agreement: the specific implementation of a Standard Agreement agreed by the parties when they execute a Cover Page.
Approval: stage in which the parties achieve any required internal approvals before moving to Signature.
Approver: a user with authority to approve a Deal during Approval stage. See Deal Role matrix here.
Attachments: policies (like security, service level or acceptable use) or other documents that the parties incorporate into their Agreement by reference on a Cover Page.
Auto-Accept: feature by which Acceptable Alternatives are automatically accepted by a Sender if selected by a Recipient during Guided Review.
Cloud Terms: a Bonterms Standard Agreement for purchasing and selling subscriptions to enterprise Cloud/SaaS services.
Counterparty: the other party to a Deal. The Sender and Recipient are counterparties to each other.
Cover Page: a document the parties sign to enter into a Standard Agreement. Each Cover Page contains Key Terms, Additional Terms, Attachments (if any) and Party Information. A Cover Page is the key output of the Bonterms Platform.
Deal: a proposed Agreement between Sender and Recipient to be created through a Cover Page on the Bonterms Platform.
Deal Flow: Guided Review, Approval and Signature.
Deal Roles: user roles for a particular Deal consisting of Owner, Follower, Reviewer, Approver and Signer. See Deal Role matrix here.
Deal Team: all users with a Deal Role on a Deal.
Entity Block: combines an Entity, Governing Law, Court and Signer into one package of information that allows the user to repeatedly plug in this information unit for use in a Deal Template associated with an Organization (or Entity within an Organization).
Follower: user with view-only access to a Deal.
Guided Review: stage in which the parties agree on Key Terms, Additional Terms and any Attachments.
Key Terms: words in blue in a Standard Agreement that must be defined by the parties.
Internal Toolkit: portion of Playbook which may be customized by paid users of the Bonterms Platform.
Owner: user who controls all activity on a Deal.
Mutual NDA: a Bonterms Standard Agreement for exchange and protection of confidential information.
Notepad: a feature that allows an individual user to store persistent notes for themselves.
Organization: the company-level account for the Bonterms Platform.
Party Information: the name of each party, their legal notice address (email and/or postal address) and the name and title of each signer.
Playbook: a feature of the Bonterms Platform which provides access to a Standard Toolkit and Internal Toolkit.
Professional Services Agreement (PSA): a Bonterms Standard Agreement for purchasing and selling professional services.
Recipient: the party receiving a proposal for a Deal from a Sender.
Reviewer: user with ability to provide comments and suggest actions to an Owner within Guided Review.
Sender: the party sending a proposal for a Deal to a Recipient.
Signature: stage in which the parties sign or export for signature their Cover Page.
Signer: a user or individual designated to sign the Cover Page for a Deal.
Standard Agreement: a neutral agreement that is implemented and customized by Cover Page. The following Standard Agreements published by Bonterms are available through the Bonterms Platform: Cloud Terms, PSA and Mutual NDA. Always have legal counsel review a Standard Agreement before use. Learn more here.
Standard Toolkit: examples of Additional Terms provided by Bonterms and accessible through Playbook.
Template: a default Cover Page (including any Auto-Accept alternatives) set by an Organization for each type of Deal. Templates are used by an Owner to send out a new Deal.