WHAT IS AN eCONTRACT?
Simplification and automation are the fundamental core principles of GBET. Our solutions address the challenges and complexities that result from certain inadequacies currently in place.
This includes: nonstandardized wording in general clauses, numbering plans, varying interfaces to OSS/BSS systems plus the sheer volume of data that each carrier must be involved with to effectively manage their contracts.
We developed the eContract to identify common ground and design best standards in order to deliver complete transparency in contract exchanges.
WHAT ARE THE BENEFITS OF eCONTRACTS?
Our eContract is the new, standardized benchmark that allows for flexible participation for carriers to exchange contracts manually. And, in the future, it will allow them to move electronically and efficiently through the back office.
In short, the eContract eliminates the burden of increasingly escalating disputes and audit exposures due to late-signed agreements. If these problems are resolved there will be a positive return to every carrier’s bottom line. Here are the benefits:
- Improves operational efficiencies going through the back office
- Reduces delays in contract clause wording due to industry-standard templates
- Drives immediate and accurate implementation for operational use
- Protects against time-consuming disputes and audit exposure
- Reduces costly human errors and inefficient manual discrepancies
HOW DO eCONTRACTS WORK?
A new bilateral termination template has been developed using industry standard clauses and wording. It is separated into two sections, namely: Amendment and Annex eContract.
The Amendment to the Bilateral Master Agreement template covers all relevant and updated clauses between the bilateral partners and is signed just once.
No commercial conditions/financial values appear in the Amendment template. This information is covered in the Annex eContract template (tabular format) for partners to exchange. This can be done via email/PDF or, at some point, through an interface to each partners’ database. Key points are:
- Flexible options/stages of involvement to suit carrier’s internal requirements
- Carriers will have the flexibility to build their own interfaces based on our approved standards for integration
YOUR CHOICE OF STAGES
As our members implement and manage contracts through our model, several stages are designed to provide specific documents to each stage of negotiating, signing and renewal of complex agreements. These include:
- Existing Contracts – Bilateral Termination (eContract concept)
- Amendment for eContract – template (transfer existing and future clauses, no financial values)
- Annex eContract – use for financial conditions per consecutive period (no clauses)
- Exchange manually – via email/PDF