Currently, when we have a complex Vendor arrangement, we have to produce a manual Sale and Purchase Agreement. For example, I had one recently where the Vendor should be recorded as: Vendor 1 as to a 1/2 Share; and Vendor 1, Vendor 2 and Vendor 3 as executors to the estate of Vendor 4 as to a 1/2 share. Obviously, on our system, we can’t have that set up and for that reason, I had to complete a manual agreement. I have the same issue when dealing with a Trustee company, that is one entity, but they may have an internal requirement to have two people act as signatories. Again, our system doesn’t enable that so someone has to sign manually. My thought would be that in our system, we should have the ability to add the names and contact details for each Vendor as we currently do, but there should be separate field that would enable us to enter the format for how the Vendor should be represented on the Agreement. In the case of my 1/2/executor situation, I could have entered the 4 Vendors separately, had their signatures set up correctly, so the system could still have triggered an electronic contract. The same thing could happen with Trustee companies that require more than one signatory; but in that case, there should be a field we can complete that enables us to enter details of all required signatories. These complex vendors don’t happen very often, but when you’re busy, it would save a tonne of time by not having to do this manually.
