Adding Counterparties and Contacts to the Job

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Overview

Now that you have completed entering in all the relevant Corporate Information, it is important to record any parties (referred to as Counterparties) and their Contacts which have some involvement in the Job, for example: solicitors, accountants, the Job’s bank manager and so forth.

In this context, the firm of solicitor, the accountancy practice and the bank branch will be entered as Counterparties, the solicitor, partner or bank manager would be entered as a Contact.  The Contacts are linked to the respective Counterparty on creation.

Adding Creditors to the Job will also add a Counterparty record.  Adding Creditors is discussed later in section 2.

The relationship between Counterparties and Contacts

Counterparties may be viewed as the company, whereas the Contact would be an individual at that company.  So, in adding a firm of accountants as a creditor, the Counterparty is the firm of accountants, the partner involved would be added as a Contact.

If the creditor is an individual, a Counterparty may also be added as an individual.  It would not be correct to add an "individual" (rather than a corporate) creditor as a Contact.  It is also not necessary to add a Contact to a Counterparty.

Several Contacts may be added to one Counterparty.  However, a Contact may only linked to one Counterparty, as it is assumed the Contact is an employee of that Counterparty.

Counterparties are added to the system as a "type", that is, as solicitors, accountants or bankers, amongst others.  Contacts are added with a "role", for example, solicitor, accountant or banker (bank manager).  Counterparty types and Contact roles are primarily used in defining recipients for documents produced by the system.

Although a Counterparty may be held in the application as a firm of solicitors, an accountantcy practice or a bank, the Counterparty may be linked to a job in a different role, most commonly that of 'Referrer'.  The various Counterparty types and Contact roles are set by the system administrator.

Adding Counterparties and Contacts

There are a number of steps involved in adding a Counterparty or a Contact to a Job:

  • The Counterparty must either exist in the database or you need to create one;
  • If the Counterparty has a Contact, then it must either exist in the database or you need to create one;
  • Once the above is done, the Counterparty and Contact can be linked to the Job.

 

Related

Adding a Counterparty
This section describes the process for adding a counterparty to a job.  As an example, a firm of solicitors, Mishcon de Reya as a counterparty.  This section assumes that this firm is not already listed as a  counterparty.
Adding a Contact to a Counterparty
Once a counterparty has been added to the job, the next step is to add a contact and link that contact to the counterparty.
Linking a Contact to a Job
Once a new contact has been created for a counterparty, the contact needs to be linked to the Job. There are two ways you can link a contact to a job.  You can either link the job to the contact or the contact to the job.  In this example, we will be linking a contact to a job.
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