Obligations Management
Obligation Management plays a critical role in Contract Life Cycle Management (CLM) by ensuring that both parties engaged in a contract fulfill their respective commitments throughout the contract's duration. It involves tracking, monitoring, and managing obligations, ensuring they are met on time and within the agreed-upon conditions.
Conga CLM comes with a set of default obligation records. For more details, see Viewing the Obligations List. Additionally, you can create new obligations to address specific requirements. For more details, see Creating an Obligation. To ensure that obligations are created and tracked for agreements, you need to link obligations with relevant clauses through the Obligation or the Clause interface. For more information, see Obligation and Clause Association .
If the clauses linked with obligations are added an agreement template and an agreement document is generated using this template, obligations are automatically added to the agreement. You can view the obligations created for an agreement in its Activity timeline. You can view detailed information about the obligations in the Agreement Obligations section under the agreement's Related tab.
You can also add new obligations to an agreement (without a linkage to any clause). For more information, see Agreement Obligations
- Viewing the Obligations List
- Creating an obligation
- Update an obligation
- Delete an obligation
Viewing the Obligations List
- Payment
- Delivery
- Performance
- Compliance
- Confidentiality
- Warranty
- Termination
- Reporting
- Maintenance
- Indemnification
- Click the App Launcher icon (
).
- Click the drop-arrow icon (
) to toggle the list view to view recently viewed or all the obligations.
Creating an Obligation
- The Obligations object is set as Default On in your user profile. For more information on configuring a user profile, see Profile Settings and Security.
- A record type for the required obligation type is available in the system. For more information, see Creating a Record Type.
- Page Layout for the record type is configured and assigned to the profile. For more information, see Creating a Page Layout.
You can create an obligation of required type. You can create multiple obligations of the same record type also. For example, you can create the following obligations for payment obligation type:
- Payment for Services Rendered: The client is obligated to pay the service provider for services delivered as per the agreed-upon scope and pricing in the MSA or related work orders (e.g., paying $100/hour for IT consulting services).
- Reimbursement of Expenses: The client must reimburse the service provider for pre-approved expenses incurred during the delivery of services, such as travel or material costs, as outlined in the agreement.
- Payment of Late Fees or Penalties: The client may be required to pay additional fees or penalties if payment is not made within the stipulated timeframe (e.g., a 2% monthly late fee for overdue invoices).
- Click the App Launcher icon (
).
- Search and select Obligations.
- Click New.
- Select the Record Type matching to the obligation to be created. New Obligation pop-up is displayed.
- Provide the obligation information.
- Click Save
Editing an Obligation
The Obligations object is set as Default On in your user profile. For more information on configuring a user profile, see Profile Settings and Security.
- Click the App Launcher icon (
).
Deleting an Obligation
- Click the App Launcher icon (
).
