Zug, 26 October 2017: Framesoft unveils the Framesoft Online Negotiation Platform (FON) for Master Agreements.
Framesoft Online Negotiation (FON) for Master Agreements is the online platform for electronically negotiating (master) agreements:
- FON for Master Agreements is a Software as a Service (SaaS) solution which is offered to its subscribers via the internet. As such it delivers extremely quick adaptation, paired with low cost and minimal risk of implementation
- FON for Master Agreements simplifies the administration, enhances the transparency as well as speeds up the negotiation process between the negotiation parties. The centralized documents on the FON platform mean no inconsistencies, breaks or version conflicts in any negotiation
- FON subscribers simply invite counterparties to a negotiation. The invited counterparties do not have to be subscribers; all they need is internet access
- FON subscribers can upload and maintain their own library of draft agreements, annexes and schedules on the platform
FON for Master Agreements negotiations are conducted in a logical, well defined process:
Key benefits of using FON for Master Agreements
- One Contract document for the entire negotiation: no inconsistencies, breaks or version conflicts
- Contract data attributes remain an integral part of the contract throughout the whole negotiation
- FON's integrated document editor
- safeguards data items to ensure data integrity and seamless backward reconciliation into corporate systems
- speeds up negotiation by supporting parallel negotiation workflows on distinct clauses of the contract
- Reduction of legal, credit and operational risk
- Optimization of negotiation workflow through business process reengineering
- Full audit trail of the negotiation process
- Any number of parties may be involved in a negotiation. New parties may be added whenever they are required
- Negotiation can consist of any number of documents
- Secure access to contracts; both parties access a single version of the contract via a high security link using tunnelling and encryption
- Turnkey Solution - does not require any specific installation of software or hardware
A full ‘round-trip’ integration with Framesoft Contract Repository (FCR) allows a seamless (Master) Agreement setup and negotiation process. All required data items can be fed back into FCR for further processing and netting evaluations:
Uploading a Master Agreement including data points from FCR via "FCR Bridge":
FON for MA - Agreement Reconciliation to FCR:
Framesoft Online Negotiation (FON) for Master Agreements will be available in 2019.
