When you're running an agency, contract negotiations often follow a predictable pattern: draft, review, send, and sign. Whether it’s a non-disclosure agreement (NDA), a master services agreement (MSA), or a statement of work (SOW), you’ll likely go through these four steps each time. This article is here to help you better understand your agency contract workflow and make sure you’re not missing anything important along the way.

Drafting your business's contracts

The first step in your agency contract workflow is drafting the contract. Starting with a template is usually your best bet. Most agencies use the same three or four types of documents over and over—like NDAs, MSAs, and SOWs. Having a good template for your business ensures you cover all your bases every time.

If you do need to draft a contract from scratch, make sure to include the essentials:

• Parties Involved: Clearly name everyone who is part of the agreement.
• Term of the Agreement: Specify how long the contract will last.
• What Happens if the Agreement Ends Early: It’s crucial to outline what will happen if the agreement ends prematurely, especially if it’s on bad terms.

Starting with a solid draft is key to a smooth and successful contract negotiation.

Reviewing your Contracts Before Sending

Before sending out any contract, it’s important to have someone else review it. If you’ve drafted something from scratch, legal counsel might be a good idea. But if you’re working from a template (which is smart!), a colleague or the account owner can do the review. They’ll check to make sure everything is accurate and that the contract fits the specific situation.

Documenting internal sign-off before you send your contracts to the other party is an important part of your agency contract workflow. It helps ensure everything goes smoothly and that your team is all on the same page.

Sending your Agreements to the other Party

Once your contract is ready, it’s time to send it out. Contracts can be sent in many different ways—PDFs, Word documents, even text messages! However, it’s important to send contracts in a way that allows the other party to give feedback.

Make sure that feedback is documented and actionable so that when you send revisions, you’re addressing their requested changes. It’s easy to lose track of negotiations in your inbox or forget which version of the document you’re working on. That’s where tools like Ream can be really helpful, keeping everything organized and ensuring your agency contract workflow stays on track.

Collecting signatures

The final step in your agency contract workflow is getting the contract signed. The quickest way to collect signatures is by using an e-signature provider. Just make sure your e-signature provider complies with local regulations to ensure the signatures are legally binding.

Once the document is signed, all parties should have easy access to the verified, signed document. It’s also a good idea to email everyone a PDF of the signed contract once the signatures are complete.

To speed up the process, try to minimize the number of clicks required to sign. For example, Ream offers a click-to-accept model that lets you sign multiple documents at once, helping you close deals faster.

Lastly, make sure your e-signature solution is cost-effective. E-signature services shouldn’t break the bank, so choose one that fits your budget while still offering all the features you need.

Conclusion

Understanding your agency contract workflow—from drafting and review to sending and signing—is essential for smooth and successful contract negotiations. By following these steps, you can ensure that your contracts are well-prepared, reviewed, and signed efficiently, helping your agency stay organized and competitive. With the right tools and a clear process, you’ll be able to handle your agency’s contracts with confidence, saving time and avoiding common pitfalls along the way.