2 S H A K E S

Effortless Onboarding & AML CDD

After you have signed a client up with 2Shakes, you might find it useful to renew or update the agreement from time to time. The 2Shakes renewal option makes that easy. We allow you to renew the original 2Shakes agreement and then resend the renewal to your client for signing. You can easily keep track of your agreement and renewal history too.

Remember: renewals only relate to clients with agreements. For AML Only you use the Ongoing CDD features.

Why renew an agreement?

  • To re-confirm, using your client’s agreement, that you are still engaged to work for them.
  • To meet the requirements of Professional Bodies you’re a member of that require a regular compliance signup.
  • If your firm is changing the fees it charges, services it provides, or updating Ts and Cs.
  • After a change of ownership of your practice, to sign up the clients to the new company.
  • Any other changes that should be reflected in an updated agreement.

Steps to renew an agreement

From the Dashboard, select the completed agreement you want to renew by clicking on the client name, this will take you to the Client Management page.  To renew the agreement, click on the Renew Agreement button.

When you click on Renew Agreement, a client signup will be launched with:

  • The same client details as before.
  • No authorities are selected, so you’re not asking for authorities you already have.  To add or change an authority, simply select it.
  • The same Fees as the previous agreement (editable)
  • The current Terms and Conditions are pulled through from your profile.

Once launched as a renewal, the signup is the same as the usual process.

Renewal features

From your Dashboard, you can easily recognise which clients have had agreements renewed. The three dots next to the briefcase indicate the client record is part of a renewal chain.  The renewal icon is coloured blue since it is a link to renewal history.

By clicking on the blue renewal icon, you can view the hierarchy of renewed agreements.
The oldest agreement features first, followed by each subsequent renewal. The renewal history can also be viewed from within the Client Management page.

NB: Archived agreements are identified by a tick icon. You can only change the archived status of an agreement from the Dashboard. 

Only the latest, Completed agreement can be renewed. A renewal must be Completed before creating a subsequent renewal. 
So if you have a renewal in progress that you don’t want to complete, you can delete is so you can renew the latest Complete agreement.

How will renewals be billed?

As of May 2020, when the updated Renewals feature was deployed, you are only charged an initial usage fee for the first time the client is added. Renewals are not charged as usage.

Additionally, you are only charged one Ongoing Records fee for each agreement chain. So if you have multiple renewals for a client, you will still only be charged one Ongoing Records fee, as follows:

  • If all Agreements in the chain are Sign Up only, you will be charged a single Ongoing Signup Only fee.
  • If one or more Agreements in the chain include AML, you will be charged a single Ongoing with AML fee.