Common Paper's Custom Terms option is an engineering solution designed to help customers make changes to the Standard Terms that are specific to their business and that replace the Common Paper Standard Terms when delivering agreements to counterparties.
NOTE: Custom Terms implementation requires custom engineering work, can take several weeks to deliver and requires at least a $500/month commitment.
When do Custom Terms make sense?
Custom Terms work best for customers that are happy with the cover page / terms structure of Common Paper agreements, and are willing to work within the variables that are contained on the Cover Page. These customers are also generally ok with the standard terms and are looking to modify them rather than wholesale replace them.
Here are some good use cases:
Adding additional language or clauses to the Standard Terms
Removing optional variable references from the Standard Terms
Adjust the Standard Terms language
Accommodating customers unwilling to accept the Standard Terms by reference
What use cases does Custom Terms not work for?
This feature is not intended to entirely replace the Common Paper Standard Terms with a bespoke agreement.
Getting Started with Custom Terms
In order to use Custom Terms, you'll need to reach out to our team which you can do via the support bubble in the lower right corner. We can go over the requirements with you, but here are some common questions:
What should my Custom Terms look like?
The most important aspect of Custom Terms is compatibility between the Cover Page and the Standard Terms.
Every Common Paper agreement has two parts - the Cover Page that contains variables, and the Standard Terms that contain the legal language and reference the variables in the Cover Page. Custom Terms still uses this paradigm, but it lets customers alter the Standard Terms to include different language, as long as the variables in the Cover Page are still used as currently named.
You provide updated terms that are rewritten to your liking but are still compatible with the variables on the cover page, and we alter the system to deliver your custom terms as part of the agreement rather than the standard terms.
How does the agreement change once Custom Terms are in place?
A custom terms agreement has these changes:
A copy of the custom terms are automatically attached to every PDF/DOCX created
References to the Common Paper standard are changed to 'A modified version'
The "yellow box" that references the Common Paper standard terms is updated to reflect that the terms are attached and modified from the Common Paper standards (and the link to the standards is removed) - see below:
How do I access the Custom Terms?
We'll create a special template in your Templates that will contain the new terms. You'll use that to create new agreements.
Can I still create, send, negotiate and sign agreements using Common Paper?
Yes! Beyond the changes listed above, the agreements work as normal.
Can I use Custom Terms on any agreement type Common Paper supports?
Yes, as long as your terms are compatible with the Cover Page for that agreement type.