In the fast paced business world, some contracts are negotiated right down to the end. Not only will a signer sign where requested, but also he or she will make small edits such as changing the closing date or governing law, then initialing next to the changes. The other party then has an option to accept the changes and sign to complete the transaction, or make alternate changes. This type of last minute negotiation, often called ‘markup’, happens every day.
One of the challenges with Markup is that it can get messy. If you’ve ever seen a Real Estate contract with Markup on a fax of a fax copy, then you know the documents can become nearly illegible.
What if you can get the speed and benefit of last minute negotiation, but keep everything clean and tracked? With DocuSign’s Collaboration Tools, you can! DocuSign provides two methods of online collaboration – document level or field level markup – set by the sender of an envelope.
With Document Markup enabled, recipients can use a ‘markup tool’ to white out, edit or add new document text. You can easily change a closing date by placing the new date right over the old one by dragging the markup field into the document. You can markup a single word, or entire paragraphs. To help you keep it legal, DocuSign requires all parties to initial all document markup. In addition to information about who made the change, all changes are also time stamped and recorded in the audit trail.
Using the Field Markup feature, the sender enables only certain fields as editable, designating only certain fields in the document as negotiable. Field markup is enabled in the field properties dialogue. To enable field markup, open the properties dialogue box for the appropriate secure field and select “allow all to edit.”
DocuSign will ensure all changes to a document are initialed by the person making the changes and approved by all other recipients. Recipients who signed the document before the changes were made can review and approve the changes before documents are finalized. This may go back and forth several times before all have agreed to all the suggested changes.
When complete, the document will have initials from all parties by any changes, and the history will show all of the changes that took place. Also, the final email notice will list all changes.
For some business transactions, brokers or agents manage the transactions and assist the signers on both sides to reach agreement. In these cases, the Agents for both sides need to review and advise their clients during the signing process. Often, only the Agents, not the signers, know the contact information for both sides. In these situations, the Agent Managed role is important.
!nsurance transaction: The insurance carrier can generate an envelope and send it to an insurance agent to use with customers, without knowing any information for the customers. The agent can later add the customer information and send the document for the customer’s electronic signature.
Real Estate transaction: The buyer’s agent may originate the documents, send them to the buyers to eSign, and then hand the transaction off to the seller’s agent. The seller’s agent reviews the documents, adds the signer’s contact information and sends the documents for their electronic signatures to complete the transaction all in one envelope.
Legal transaction: One attorney creates a document for electronic signature and sends it to a second attorney for review and, if approved, the second attorney can send it to his customers for their electronic signature.
When a sender creates a new agent managed envelope, a manager must be added as one of the recipients. The two recipient types that can act as a manager: an Editor or Agent. The recipient type selected by the sender depends on what the changes and additions the sender wants the manager to have and the manager’s access to a DocuSign account.
There are two types of Agent roles – Agent and Editor:
Agent: The Agent recipient type doesn’t require a DocuSign account, so anyone can be an agent. Agents can add name and email information for other recipients and can only send an envelope when the information for the remaining recipients is filled out.
Editor: The Editor Role must be sent to a person who already has a DocuSign account. Editors are a type of ‘super agent’ having the ability to make changes to the envelope before sending it along to their customers to sign. Like Agents, Editors can add the name and email information, add or change the routing order and set authentication options for the remaining recipients. However, Editors can also edit signature and initial tabs and data fields for the recipients and add additional documents to the envelope.
Agent managed envelopes empower you to keep your document signing processes completely paperless, even when you don’t have the information of every signer!
When creating an envelope, add the recipient and assign them a role of Agent or Editor. Any recipients sequenced after this role does not require contact information provided by the initial sender because the Agent or Editor will add it when they get the envelope to sign or review.
In the figure above, the Sender doesn’t have the contact information for Signer 3 and 4, so he creates an envelope, adds the recipients he knows (Signer 1 and 2) add the Manager, adds the roles for Signer 3 and 4 and then sends the envelope.
The Manager receives the envelopes after Signers 1 and 2 sign the document. The Manager adds the contact information for Signer 3 and 4 after receiving the envelope, but does not see the contact information for Signer 1 and 2.
Agent managed envelopes allow agents or brokers from both sides of a transaction to manage the signing process through DocuSign to support brokered or channel transactions.
DocuSign is more than just electronic signatures, it's a complete web-based eSign solution working to help you close more business and make more money.
DocuSign regularly holds giveaways for the various events we do. Recently, we hosted a developer meetup with Force.com, where Deborah Orth won a brand new unlocked Galaxy S phone!