The Review feature serves as a valuable tool for identifying risks and ensuring consistency within your legal team, as well as making suggestions for how contracts can be modified to satisfy the requirements that are expressed by your Review Items. By reviewing each item, Ivo can assist you in determining whether or not the Review requirement has been fulfilled, where the agreement addresses that requirement, and how the agreement can be modified to satisfy it.
Review lists are particularly useful when reviewing agreements on third-party paper. However, the Review feature can also be used for reviewing agreements on first-party paper if the counterparty creates redlines. In these instances, it serves as an efficient method for tracking and evaluating the counterparty's proposed revisions in comparison to your requirements.
To use the Review feature:
1. Click the Review option in the Home Page of the playbook you've selected.
2. Click the Analyze Document button.
3. Ivo will inform you to what extent your requirement has been fulfilled by displaying a badge next to the checklist item that will show one of the following:
A light green badge mentioning Pass (if the requirement has been fulfilled).
A red badge mentioning Fail (if the requirement has not been fulfilled).
A yellow badge mentioning Partial (if the requirement has been partially fulfilled).
A gray badge mentioning N/A (if the requirement isn't applicable for the document).
A dark green badge mentioning Ivo (for additional recommendations by Ivo beyond your custom review items).
4. You can click on any of the Review Items to see:
More information: An explanation for why it passed/failed/partially met the requirement.
Sources: What part of the contract addresses the Review item.
Recommendation: A suggestion for modifying the contract to meet this specific requirement if it has a Fail or Partial result.
5. If the suggested markup looks acceptable, you can then update the document with the modification by clicking either of the following:
Apply to apply the suggested markup without including a Word comment.
Apply with Word Comment to apply the suggested markup as well as an automatically generated Word comment that provides a justification of the change for a counterparty upon their review of the updated document.
6. If you would like to apply all of your Review recommendations simultaneously instead of individually, you can also click Apply all recommendations at the bottom of the requirements list.
Be sure to check out the other Ivo features that you can utilize in our support pages.