Frequently Automated Contracts And Other Documents

It doesn’t matter if you are from the US, Latin America, Europe or Asia. The most frequently automated documents are generally surprisingly similar, regardless under which law your company or law firm operates.

To begin with, which contracts and other documents are automated most frequently? It depends – whether you work for a large law firm, small law firm, financial institution, real estate industry, or as a corporate counsel for a company operating in another business area.

Based on our long-term experience with over 100 000 users in 5 continents, we made a list of the most frequently automated contracts and documents:

Law firms

Law firms typically begin automation with these three simple documents:

Engagement Letters
Power of Attorneys
Non-disclosure Agreements

Subsequently, large law firms go further with automating

Set of security documents for bank transactions
M&A documentation (SPA, SHA, etc.)
Contracts and other documents for real estate transfers
Documentation for company formations (articles of association, board decisions, affidavits etc.)
Corporate governance documents (e.g. Board of Directors Meeting Minutes)

The rest of the documents typically automated by law firms depends on the expertise of a law firm, but in general, the most frequently automated documents are:

Escrow Agreements
Employment Contracts and other documentation for HR
Debt trading, collection and handling (e.g., Cease and Desist Letters, court filings, Settlement Agreements, etc.)
Class actions documentation
Family law agenda such as divorce & Separation documents, childcare documents or last wills
Documentation for public tenders
Licensing and IT contracts (EULA, Privacy policies, Terms and Conditions, etc.)
Insolvency and bankruptcy documentation

Financial Institutions

Of course, all banks, insurance companies and other high-volume financial businesses have automated their client documents, such as LMA Standard Documentation. However, we will rather be focusing on internal documents that are typically handled by corporate counsels, procurement or sourcing departments.

As an example, some of the documents automated within the area of purchasing services can be:

Contracts on providing services
Purchase Agreements
Master Service Agreements
Framework Purchase Agreements
Documentation for tenders
Amendments (Amending contracts)
Contract Prolongations
Termination Agreements, notices and withdrawals

Note: Last three documents are usually connected with agreements/contracts and therefore data from them can be transferred automatically.

Debt handling documents, on the other hand, can be represented by:

Notices
Cease and Desist Letters
Debt Transfer Agreements
Settlement Agreements

Lastly, here are some other often drafted documents:

Board minutes
Annexes to financial and tax reports and filings
Affidavits
Documents for processing of personal data
Employment Contracts and other documentation for HR
NDA/Confidentiality Agreements
Lease Agreements
Licensing

Real Estate Industry

Property managers, real estate agencies and developers use document automation a lot. Among the most popular documents for automation are:

Brokerage Agreements
Reservation Agreements
Property Purchase Agreements
Forward Purchase Contracts
Escrow Agreements
Commercial Lease Agreements
Rental Agreements
Termination documents
Documentation for land registers (usually depends on the country)
Construction Agreements
Master Service Agreements (property managements and repairs)

Other companies

Most of the companies are not in any of the above-mentioned categories. Does it mean they are not automating drafting and management of their documents? Or course not. They are automating as well. Among the usually automated documents are:

Engagement Letters
Contracts on providing services
Purchase Agreements
Master Service Agreements
Framework Purchase Agreements
Employment Contracts and other documentation for HR
NDA/Confidentiality Agreements
Amendments (Amending contracts)
Contract Prolongations
Termination Agreements, notices and withdrawals
Notices
Cease and Desist Letters
Power of Attorneys

Based on our long-term experience with over 100 000 users in 5 continents, we made a list of the most frequently automated contracts and documents:

Law firms

Law firms typically begin automation with these three simple documents:

Engagement Letters
Power of Attorneys
Non-disclosure Agreements

Subsequently, large law firms go further with automating

Set of security documents for bank transactions
M&A documentation (SPA, SHA, etc.)
Contracts and other documents for real estate transfers
Documentation for company formations (articles of association, board decisions, affidavits etc.)
Corporate governance documents (e.g. Board of Directors Meeting Minutes)

The rest of the documents typically automated by law firms depends on the expertise of a law firm, but in general, the most frequently automated documents are:

Escrow Agreements
Employment Contracts and other documentation for HR
Debt trading, collection and handling (e.g., Cease and Desist Letters, court filings, Settlement Agreements, etc.)
Class actions documentation
Family law agenda such as divorce & Separation documents, childcare documents or last wills
Documentation for public tenders
Licensing and IT contracts (EULA, Privacy policies, Terms and Conditions, etc.)
Insolvency and bankruptcy documentation