Financial services institutions, insurance companies and enterprises around the globe increasingly face large-scale document remediation efforts (‘repapering’). For example, changes associated with Brexit, LIBOR, CCPA, GDPR and MIFID II require stakeholders to complete cumbersome processes involving risk-assessing, remediating or migrating contracts.
The process of scrutinizing these contracts is time-consuming, often still mostly manual and difficult to manage on an international, multi-jurisdictional and sometimes multi-language scale. Repapering often places a heavy burden on the finance, legal and operations teams that must find, assess and remediate all relevant contracts and clauses.
BRYTER provides an integrated, repapering solution through different partners and in collaboration with other software tools:
- BRYTER allows businesses to integrate contract analysis tools (Kira, Luminance, RAVN, Seal, eBrevia, etc) and to combine them with BRYTER’s logic and rules editor to assess and triage existing contracts, clauses and data.
- BRYTER’s document generation suite is able to mark-up and change existing contracts and to generate the ‘repapered’ documents and contracts
- BRYTER allows businesses to automate and apply complex rulebooks for each document in the process
- BRYTER enables users to e-sign the repapered documents and to negotiate on certain clauses where necessary
👉 LIBOR Repapering: With the permanent discontinuation of LIBOR from 2022 onwards, many institutions are confronted with the challenge of reviewing, renegotiating and adjusting a huge number of documents containing contractual references to benchmarks like LIBOR. BRYTER can use sophisticated logic to flag any LIBOR references and fallback provisions to the end-user and, if necessary, automatically produce an amendment agreement with a new reference rate. End-users are guided through every step of the process and at no point have to enter additional manual information (see also LIBOR Transition Tool).
- Automated & standardized: BRYTER’s repapering solution allows you to automate and standardize the process of analyzing, triaging and repapering large document sets.
- Faster execution: An automated workflow will allow the acceleration of processing documents significantly.
- Centralized audit trail: The analysis and processing of all documents are tracked and recorded in a centralized audit trail. This provides real-time insights and an overview of the project’s status.
- Integrated: BRYTER connects to the contract analysis software of your choice establishing a seamless and integrated workflow.
- Highly customizable: BRYTER allows you to easily adapt the structure of your legal reasoning process to the specific requirements of the type of documents you are processing.