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# Deal Negotiation Flow Diagram

This article summarises the negotiation workflow in Leegality Deal Collaboration software. Understanding the overall flow helps you navigate the process smoothly.

The stage-wise process that a deal undergoes is captured in the chart below.

## Step-by-Step Explanation

| **STAGE** | **ACTION** | **RESULT** |
|----------|----------|----------|
| **Initiate Contract**| The initiator configures the deal and selects the workflow and the template relevant for that deal.| Stage changes to “Ready for Internal Review.”|
| **Internal Review**| The Reviewer(s) approve, reject or edit the variable fields and approve or reject the sections. If they have edit access, they can also click on “View Document” to make edits and leave comments on the document.| Stage changes to “Ready for External Review.”|
| **Ready for External Review**| The initiator can click on the “Send for External Review” task and download the draft contract. All the internal comments are removed. Once the document is downloaded- the document cannot be edited.| The contract marked as External Review.|
| **External Review**| The Counterparty reviews the contract and sends it back. This document is now uploaded back to Deal Collaboration.| Stage changes to “Negotiation Internal”|
| **Negotiation Internal**| The internal negotiators can now review the document for any further changes that might be required. The legal negotiator is required to approve the document at this stage.| After the Legal Negotiator approves the document, the document can either be sent for another external review or be marked as ready to sign.|
| **Send for External Review**| You can share the revised contract with the counterparty.| Contract status changes to Negotiation External.|
| **Negotiation External**| Negotiations can go on till the draft contract is finalized.| Stage changes to “Ready for Signing”|
| **Ready to eSign**| A task is created to  “Configure Signing”.  You can now select the draft that is required to be executed.| You will be redirected to the Document Execution platform where you can set up an eSigning flow.|