Skip to content

Closing Folders: Supporting business continuity during COVID-19

Sadira Jan and James Gamblin

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.

SHARE

Archive

Search Archive


Search
Generic filters

 
 

Update: New trust reporting and disclosure requirements under the Income Tax Act

November 29, 2022

Note: this is an update to a previously posted Thought Leadership piece from November 2020 to reflect the delayed coming into force of these proposed changes, as well as additional information that has become available. …

Read More

think: international talent

November 29, 2022

As part of our presenting sponsorship of the 2022 Halifax Chamber of Commerce Annual Fall Dinner, lawyers in our Immigration group compiled a series of Thought Leadership articles drawing on the themes of population retention…

Read More

Changes to job classifications and immigration impacts

November 23, 2022

By Brittany Trafford and Michiko Gartshore On November 16th, 2022 the Federal Government switched to the 2021 National Occupational Classification (NOC) structure from the prior 2016 version. The NOC is Canada’s national system used to…

Read More

Nova Scotia: Canada’s emerging immigration hub

November 17, 2022

As part our presenting sponsorship of the Halifax Chamber of Commerce’s Annual Fall Dinner, we are pleased to present a series of thought leadership articles highlighting the dinner’s themes of immigration, recruitment, and labour market…

Read More

Bill C-27 – Canada’s proposed Artificial Intelligence and Data Act

November 16, 2022

Kevin Landry, Charlotte Henderson, and James Pinchak The governance of Artificial Intelligence (AI) is entering a new era since the Canadian Government first announced a digital charter in 2019 as part of a larger-scale overhaul…

Read More

Discovery: Atlantic Education & the Law – Issue 11

November 14, 2022

We are pleased to present the eleventh issue of Discovery, our very own legal publication targeted to educational institutions in Atlantic Canada. With a new academic year well underway, the Atlantic Region is finally seeing…

Read More

The Winds of Change (Part 5): Atlantic Canada poised to benefit from clean energy tax credits

November 10, 2022

By Jim Cruikshank, Graham Haynes, and Dave Randell On November 3, 2022, the Honourable Chrystia Freeland delivered the Federal Government’s Fall Economic Statement (“FES”).  The FES included a number of tax related announcements, including further…

Read More

“Constructive Taking”: Consequences for municipalities from the Supreme Court of Canada decision in Annapolis Group Inc. v. Halifax Regional Municipality

November 10, 2022

By Stephen Penney, Joe Thorne, and Giles Ayers A new decision from the Supreme Court of Canada, Annapolis Group Inc. v. Halifax Regional Municipality, 2022 SCC 36 (“Annapolis”), has changed the law of constructive expropriation across the…

Read More

Attract & Retain: Nova Scotia taps foreign healthcare workers to fill labour shortages

November 10, 2022

As part our presenting sponsorship of the Halifax Chamber of Commerce’s Annual Fall Dinner, we are pleased to present a series of thought leadership articles highlighting the dinner’s themes of immigration, recruitment, and labour market…

Read More

The rise of remote work and Canadian immigration considerations

November 3, 2022

As part our presenting sponsorship of the Halifax Chamber of Commerce’s Annual Fall Dinner, we are pleased to present a series of thought leadership articles highlighting the dinner’s themes of immigration, recruitment, and labour market…

Read More

Search Archive


Search
Generic filters

Scroll To Top