Meet Contract Management Beta — Create Contracts for Free in a Matter of Minutes

Jan 12, 2022 · 3 min read

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Contracts are vital for business. Each company operates with a pile of different agreements: sale contracts between a company and customers, service contracts with counterparties, and other corporate docs. Contracts legitimize partnerships and can be used for confirmation of certain service delivery or completed sale.

Creating a contract may be quite complicated without legal knowledge, even if you download a template that seems right. With that in mind, Enty has launched a beta version of Contract Management that allows creating a contract for Estonian companies for free by just answering simple questions.

Importance of Contracts for a Company

A contract is a legal agreement binding two or more parties and creating mutual legal obligations. Contracts legitimize partnerships and can be used for confirmation of certain service delivery or completed sale.

There are many purposes that contracts serve. For starters, contracts are the main source of revenue and relationship building for an organization.
Contracts may seem scary for a beginner but they can be as simple as a plain-language document that outlines the general business between a company and the client. There are several things that contracts provide for a company:

  • Minimize a chance of misunderstanding between the parties by outlining the terms of the business relationship and scope of the work
  • Specify rights and duties of both parties
  • Protect parties legally
  • Outline terms of payment
  • Minimize risks

Which Contracts Companies in Estonia Need

There is no exact list, as each company has its own needs. But for simple cooperation with a counterparty, a contract workflow depends on the type of your business and corporate needs:

  • For an online B2C business, only three main types of documents will probably be enough — Privacy Policy, Cookie Policy, and Terms and Conditions;
  • A B2B company will have to operate with several contract types;
  • Any type of company that requires to hire someone will require an Employment Contract and might require a Non-Disclosure Agreement

Note that in business partnerships, a draft of a contract is supposed to be created by the party that receives money (because precisely this part is usually skilled in a certain area). This means you should have your draft for the situations when you provide service and receive money. In other cases, don't worry — your counterparty is supposed to provide you with its own draft.
But no need to worry, Enty allows Estonian companies to create a contract with ease.

Which Types of Contracts You Can Create With Enty

The first beta version includes 5 types of contracts:

  • Employment Contract. Establishes both the rights and responsibilities of the two parties: the worker and the company
  • Service Agreement. Lists the services that the provider will perform and details the time frame and compensation for the project. Most service contracts also list the rights and requirements of both parties, including liabilities and confidentiality guidelines. Many also discuss dispute resolution in case either party breaches the contract
  • Non-Disclosure Agreement (NDA). Establishes a confidential relationship between parties. By signing the agreement, parties agree that sensitive information they may obtain will not be made available to any others
  • Privacy Policy. Discloses some or all of the ways a party gathers, uses, discloses, and manages a customer or client's data
  • Terms of Use. Sets up rules and regulations for visitors of a website

More types of contracts will be added soon as well.
All contract templates are created and checked by professional lawyers, while the questions are addressed in human language. So you won’t have to waste your time on hiring lawyers or filling in templates yourself. Just answer the questions and have your contract ready, easy as that.

How to Create a Contract on Enty

Contract creation is easy for everyone on Enty and depending on the type of contract it will take you from 10 to 40 minutes to create one.

  1. You will need to register on Enty.
  2. And after that go to the Contract Management section.
  3. Choose needed contract type.
  4. Answer all questions carefully and double-check each answer.
  5. Checking the answers and checking the correctness of information in a contract is a must! If you’ve noticed a mistake after the contract was sent to you, you can easily make a correction right in the contract. Please don’t ignore this step, as the information provided by you must be correct and clear.
  6. As soon as you’ve answered all questions, the contract will be sent to your email in 1-2 minutes.
That’s it! Now your contract is ready to use!

More Features Coming Soon

And this is just the first beta version! In the future, we will add more contract types, and most importantly companies will be able to use data from contracts in other services to automate workflow to the maximum.

Learn how the integration of contract management can influence other processes for your company

You will also be able to save information regarding the counterparty and use it in new templates when needed which will reduce the time to create a contract to a minimum.

At the same time, the Contract Management feature will allow you to save all contracts in one place and have them ready when required. And all contracts created on the beta will be transferred to the full version.

And that’s it, start creating contracts now and simplify processes for your company with Enty.
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