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CLM Glossary

From contract initiation to execution, this guide is crafted to assist contract professionals in grasping the nuances of contract lifecycle management.

All A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Envision

ENVISION is Malbek's annual user conference filled with inspiration, expert sessions, customer insights, and invaluable networking.

Escrow Agreement

A legal arrangement involving a third party to hold and manage assets or documents on behalf of the contracting parties.

eSignature

Esignature is a shorthand term for electronic signature, referring to a digital representation of a person's signature. eSignatures are commonly used in CLM for efficient and secure contract execution. shorthand term for electronic signature, referring to a digital representation of a person's signature. eSignatures are commonly used in CLM for efficient and secure contract execution.

Execution

Contract execution refers to the phase in which the parties involved formally sign and legally commit to the terms and conditions outlined in a contract. This stage marks the conclusion of the negotiation and approval processes, and it involves the act of signing the contract to make it legally binding.

Express Contracts

Express contracts where the terms are explicitly stated, either in writing or verbally. The terms are clearly articulated, and both parties are aware of and agree to the specified conditions.

Express Warranty

This is a specific and explicit promise made by one party to another. These warranties are often included in written form within the contract document and can be managed, tracked, and enforced through the CLM system.

External Databases

External databases containing regulatory information that can be integrated with CLM systems to ensure up-to-date compliance.