Creating a Term Sheet in ADR Notable

Congratulations -- you have proposals that have been accepted by all parties!  ADR Notable can now help you generate a Term Sheet. 

In the Landmark Mall Development example, our mediator Donna Parsons will draft an informal Term Sheet or MoU that the attorneys, Mark and Catherine, will use as the basis for the final legal agreement.  But whether your agreements are typically recorded in informal memoranda or in formal agreement documents, ADR Notable is here to help you streamline that process.   

So let's get started!

1.  The proposals from your Noteboard that have been accepted by all parties will automatically "populate" your Term Sheet, so before starting, make sure that you have selected Accept Proposal wherever appropriate.  Read Proposals and counter-proposals for more information.

2.  Open your Term Sheet via the Case Menu (or the Case Dashboard > Term Sheet tab) and you will see the text of each agreed-upon proposal already in the Agreements section:

3.  Now you can edit the Agreements as needed.  At any time, if a new or existing Proposal is flagged as "Accepted," it will automatically be added to the Agreements section of your Term Sheet. 

Note:  You will want to finalize the language of your agreements here in the Term Sheet itself.  Once agreed proposal language has been moved to the Term Sheet, subsequent edits to it in your Noteboard will result in the new and old proposal language being duplicated in the Term Sheet.   Likewise, if an agreed-upon Proposal is rescinded after you have started to create your Term Sheet, you will have to manually delete it from the Term Sheet Agreements section.  As noted above, however, when you record agreement on any new or existing proposals, those will be saved and automatically moved over to the Term Sheet.

4.  Using clauses that you have already uploaded to My Library, it takes no time at all to complete the Preamble and Other Terms sections of your MoU.   (Of course, you can always type text directly into any section.)

5.  Time to sign?  To complete the process immediately, simply ask the participants to type in their names for Digital Signatures and when prompted, confirm that their typed signature is intended to operate the same as a manual signature.  A date and time stamp is automatically applied. 

Tip:  For additional certainty on the legitimacy of the signatures, you can include a standard clause from "My Clauses" that states that the mediator is signing only for the purpose of verifying contemporaneous digital signatures by the parties.  Then type your signature and add "(Mediator)" following.

 If you prefer to have a printed version signed, you can insert a Signature Block clause that you have stored in My Clauses.  We have included one in ADR Notable Clauses that you can use.

Open the "Term Sheet Annotated" document attached below to get an overview of the edits made to the term sheet.

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At this stage, you have several options:  you can print the Term Sheet to a printer, save it as a PDF, or use the Copy button in each section to copy and paste the text into an email. 

You can also move the text into your own form or template for further customization.  See the Hint below for more information on how to do this.

6.  Print to a PDF or a Printer. Select the Print button to open a Print dialog box.  We recommend that the first time you print a term sheet, you select "More Settings" and set the top and bottom margins to 0.5 inches:

Save the document as a PDF and it's ready to share by email.  Or select a printer and you have a document ready for signing.

The printed and PDF versions of the Term Sheet will have a header section that will include the Firm name that you entered when you set up My Firm, along with the current date, case name, and mediator's name from the Case Setup.

You can also copy the Term Sheet text directly into an email using the Copy button, found at the top right corner of each Term Sheet section.  Everything in that Section is captured with a single click!

Do you want to further customize your Term Sheet? Watch a video in Customize your Term Sheet to see how you can create a document on your own letterhead in Word in less than a minute!