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Award-winning technology provider, InfoTrack, has launched Contract of Sale, a new digital solution designed to enable firms to prepare and send contract packs digitally to speed up the pre-completion process.
Preparing contract packs is a time-consuming task for the seller’s solicitor; collating documents from various sources, manually checking the information, and inconsistencies with data can cause delays throughout the process. Delegates at The Onboarding Summit in February identified contract packs as a key area they’d like to see improvements made to make this process more efficient.
Contract of Sale from InfoTrack is a tool developed to speed up the pre-completion process for law firms by automating the collation of documents including TA forms, Land Registry Office Copies and the EPC, and the Standard Conditions of Sale. Data is then validated to ensure information is correct before firms can generate their digital contact packs in just four clicks.
Reducing errors Contract of Sale from InfoTrack uses the validated data to minimise the risk of delays at completion when transferring the title to the purchaser via their AP1. Firms also benefit from accessing the workspace at any time to add or update the information and tracked changes made to the contract provide an audit trail, ensuring complete transparency.
Louise Edwardes, Head of Product at InfoTrack comments “We’re thrilled to launch Contract of Sale to enable law firms to generate their contract packs digitally within minutes. Having reduced client onboarding to a process that can be completed in minutes, our clients asked us to address the challenge of manually collating documents and preparing contract packs. Contract of Sale aims to improve firms’ productivity and speed up the pre-completion process to avoid causing delays in the chain. We’ve seen validations reduce errors with digital AP1s, so have applied a similar feature to digital contract packs to ensure better consistency in data, making the entire process more efficient for firms.”