Contract lifecycle workflowFrom contract request to signed, tracked and renewed.
Contract Life Cycle runs on VectorCLM, with VectorViewer for review and VectorSign for execution. Every stage, from the first request to renewal or archive, is tracked against one record.
11
stages, tracked
3
products working together
0
logins for the other side
Ask most teams when their biggest vendor contract renews. Someone will go and look in a spreadsheet, or a shared drive, or an inbox, and the answer will depend on which copy they find.
In VectorCLM a contract is one record from the moment it’s requested. Drafts, redlines, approvals and the signed copy all hang off it. Once it’s active, key dates and obligations are tracked, and you get an alert before a renewal sneaks up on you.
The eleven stages.
Tracked in one place, from the first request to renewal, amendment or archive.
1
Contract request
VectorCLM
A new contract need is raised and logged.
2
Contract creation
The agreement is drafted from an approved template or from scratch.
3
Internal review
VectorViewer
Legal and business stakeholders review the draft.
4
Approval
The reviewed draft is approved to move forward.
5
External negotiation
The counterparty reviews and negotiates terms through a shared link.
6
Final approval
Both sides sign off on the negotiated terms.
7
Electronic signature
VectorSign
All parties sign the agreement.
8
Contract activation
The signed contract becomes active.
9
Obligation and renewal tracking
Key dates and obligations are tracked automatically.
10
Renew, amend or terminate
As the term nears its end, the contract is renewed, amended or ended.
11
Archive
VectorCLM
The completed record is filed for long-term retention.
You always know where every contract is.
Every record carries its stage, so “where is that agreement?” has an answer without a status meeting.
Requested
Logged and assigned
In review
With legal or the business
Negotiating
Out with the other side
Signing
Out for signature
Active
Signed and in force
Renewal due
Alert sent ahead of the date
You set up, once
- Your contract types and templates
- Review and approval stages
- Who approves, and in what order
- SLAs for each stage
- Which dates and obligations to track
The suite handles, every time
- Routing each draft to the right reviewer
- Sharing a negotiation link with the other side
- Sending the final version for signature
- Keeping every version and redline
- Alerting you before a renewal
Teams that get the most out of it.
Legal and contracts teams
Track the whole lifecycle, from request through execution, under one record.
Procurement and vendor management
Stay ahead of renewal and obligation dates without a spreadsheet.
Sales operations
Counterparties redline and sign through a shared link, so deals keep moving.
About this workflow.
Can counterparties negotiate without a VectorCLM account?
Yes. Negotiation happens through a shared link, so the other side doesn’t need a login.
Does VectorCLM alert us before a contract renews?
Yes. Active contracts are tracked for key obligation and renewal dates, and alerts go out before expiry.
Can a contract be amended after it’s active?
Yes. An active contract can be amended, renewed or terminated, and each change is tracked against the original record.
Can we start from a template instead of a blank draft?
Yes. VectorCLM supports contract templates, so a new request can begin from an approved starting point.
Other workflows