Walkthrough: from signed agreement to renewal alert

The record

One record for every signed agreement

When the signing platform reports that everyone has signed, Colibit files the agreement. The record holds the signed PDF, the platform’s certificate and the agreed version of each document. Storing it a second time returns the first record, so nothing is duplicated.

The legal team can search the repository by type of contract, by the other party’s name or tax ID, and by expiry date. The signed PDF downloads from the record.

The dates

The dates are read, then checked

A model reads the agreement for the facts the repository needs: the parties as written, the effective date, the term and, where they apply, whether it renews by itself and how much notice ends it. It quotes the exact words it relied on.

Fixed rules then judge what the model read. Do the names match the request? Is the effective date no later than the signature? When does the agreement end? If the reading is clean, the request closes by itself. If anything is doubtful, a lawyer reviews the record first.

The commitments

Commitments are suggested, then confirmed by a person

A contract also requires people to do things: pay, deliver, report, renew, keep a guarantee in place. Colibit reads the agreement and suggests these commitments, each with its date.

Nothing becomes a commitment until a person confirms it. Once confirmed, it shows as to do, late or done, and it can be marked done once. Colibit announces each one seven days before it falls due.

The alerts

Warned before the deadline, not after

Once a day, Colibit looks at every agreement in the repository. For one that ends on a date, it warns of the expiry. For one that renews by itself, it warns of the last day to stop the renewal: the end date less the notice period, which is the date that really matters.

By default the warnings come at three points before the deadline, counted on Bogotá’s calendar, and each one is sent once:

• 90 days before.

• 30 days before.

• 7 days before.

An agreement first seen 20 days before its deadline gets the 30-day warning, never a late 90-day one. Warnings go by email to the organization’s notifications address and to the chief counsel, with the name of the agreement, the deadline, the days left and what to do.