When both parties have agreed positions on all document provisions, each side can then confirm that the document is in agreed form. You will know when parties are in full agreement, as the document progress will hit 100% and you will be prompted to "Confirm agreed Form".
Let's take a couple of steps back from Execution and recap the steps that lead to being able to execute your document.
🔋 Status: confirm agreed form
- Once both parties have agreed positions on each document provision, each party can then confirm that the document is in agreed form.
- You will know this is ready once the document hits 100% complete and agreed.
🔋 Status: Send to Custodian for approval
- Once both parties have confirmed the agreed form, the Pledgor will then be prompted to send the document to the Custodian for approval.
- The Custodian will be notified of the request to approve your document.
- The Secured Party will not need to take any action.
🔋 Status: execution
- Once the Custodian has reviewed the document and actioned the approval, both parties will be prompted to execute the document.
You can click here to read our execution guide.