Closing Folders: Supporting business continuity during COVID-19
Our Firm is currently using a program called Closing Folders that is designed to streamline transaction processes and provide better service to clients. In light of the COVID-19 Pandemic restrictions, Closing Folders is a powerful tool that supports business continuity by helping your transaction go “paperless”. It allows our firm to work efficiently and diligently in sending, receiving, and managing documents electronically.
Closing Folders is a secure, cloud-based transaction management application that streamlines the closing process through online closing checklists, digital signatures and automatically- generated signature pages, signature packages and closing books.
Closing Folders can automatically generate signature pages and signature packages. The DocuSign e-signature platform is fully integrated with Closing Folders, allowing documents sent from Closing Folders to be signed on a computer or mobile device. Executed signatures are sent back to us instantly upon signing. With social distancing measures in place, these tools can eliminate the need for physical signing packages.
Additionally, our use of Closing Folders enhances efficiencies and supports business continuity in the following ways:
- Production of closing status checklists with embedded documents, schedules, and signatures to streamline the closing process.
- Reduction of time spent on administrative tasks associated with document management and document assembly by automating routine tasks.
- Granting access to opposing counsel (with varying permission levels) to a Closing Folders page, allows for quick and efficient uploading of transaction documents under their responsibility and reduces inefficiencies associated with emailing documents.
- Closing Folders allows for the use of “variables” which are highly flexible. Variables can be used for any information that could change throughout a transaction such as dates, purchase prices, or number of shares. Variables can be updated across dozens of transaction documents with only a few clicks.
- Production of a fully assembled and dated set of executed closing documents in a closing book promptly following closing.
This article is provided for general information only. If you have any questions about the above or would like to explore how tools like Closing Folders and Docusign can work for your transaction, or to learn more about how we can assist you managing documents in a transaction or obtaining electronic signatures, please contact a member of our Corporate/Commercial Group.
Abuse of sick leave / failure of employee to participate in accommodation process: Vail v. Oromocto (Town), 2022 CanLII 129486
By Chad Sullivan and Kathleen Starke Background A recent decision, Vail v. Oromocto (Town), 2022 CanLII 129486, involved several grievances including an unjust dismissal claim by a firefighter as well as a grievance filed by…Read More
By Stuart Wallace and Kim Walsh On January 1, 2022, the Underused Housing Tax Act (the Act) took effect. The Underused Housing Tax (the UHT) is an annual 1% tax on the value of vacant or…Read More
Parlez-Vous Francais? Recent amendments to Quebec’s Charter of the French Language may impact Atlantic Canadian businesses
By: David F. Slipp and Levi Parsche In May 2022, Bill 96 was adopted by Quebec’s National Assembly, significantly amending the Charter of the French Language (the “Charter“). The amendments create new requirements for using…Read More
The Winds of Change (Part 7): Paying the Piper: New Newfoundland and Labrador Fiscal Framework expects billions in revenues from wind to hydrogen projects
By Dave Randell, G. John Samms, and Stuart Wallace With the deadline for bids on crown lands available for wind energy projects extended to noon on March 23rd, the latest development in our Winds of…Read More
By Kevin Landry and Colton Smith The Retail Payment Activities Regulations have been released in the Canada Gazette Part 1 for comment. Interested persons may make representations concerning the proposed regulations for a period of 45…Read More
By Andrew Burke, Colleen Keyes, Gavin Stuttard and David Slipp With proxy season once again approaching, many public companies are in the midst of preparing their annual disclosure documents and shareholder materials for their annual…Read More
By Brittany Trafford and Sean Corscadden In response to the nationwide labour shortage, the Federal government is allowing select family members of foreign workers to apply for open work permits. This temporary policy came into…Read More
Mark Tector and Ben Currie Effective January 1, 2023, amendments to Ontario’s Employment Standards Act, 2000 (“ESA”) took effect, excluding “business consultants” and “information technology consultants” from the application of the ESA. This is a…Read More
By Perlene Morrison, K.C. and Curtis Doyle Once again, the time has come to review the year that was and to chart the course for the year ahead. For municipalities and planning professionals in Prince…Read More
By Grant Machum ICD.D, Sean Kelly & Ben Currie As the window for “Happy New Year” wishes winds down, our Labour and Employment Group has compiled an overview of emerging trends and issues in workplace…Read More