Release Notes

New updates and improvements to SpotDraft

Removing counterparties from “Import Executed Contracts”

 Product Area:Contract Management

 Impact of Change:Quality of Life and Better Data Hygiene

 Roles Impacted: Users of “Import Executed Contracts” using Smart Data Capture


Smart Data Capture can also add counterparties to contracts. SDC sometimes has the habit of extracting some unnecessary counterparties either due to lack of sufficient context or the use of alias names etc.

What changes?

So far, it wasn’t possible for users to manually remove these unwanted counterparties whenever SDC would add them inadvertently. Often they would have to reach out to us via support and our oncall engineers would have to remove them from the backend. There used to be an option to replace a counterparty, but that wouldn’t help if there were more than one wrongly extracted counterparties.

Going forward, this will become self serve! While our ML lab is making efforts to eliminate the root cause of poor extractions, we’ve also now given users the affordance to delete these counterparties on their own.

How to remove counterparties from contracts?

  • Prerequisite: The contract has to be an import executed contract (counterparties from other workflows cannot be removed since they are always manually entered--basically, if there is an “Add Counterparty” button, there is a corresponding “Remove counterparty” button).
  • Also the contract needs to have atleast two counterparties (because otherwise “replace counterparty” works just fine)
  • Head into the “Party Information section” on the contract summary page
  • Hit the “trash can” icon next to the unwanted counterparty.
Screenshot 2024-06-28 at 7.20.10 PM
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