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.
- If IRD Authority was on the original it will still be on for the renewal. This helps ensure any updated IRD consent wording is signed off during the renewal process.
- ACC and Companies Office authorities are off by default in a renewal. You can turn these back on to get authorities if needed.
- The same Fees as the previous agreement (editable)
- The current Terms and Conditions are pulled through from your profile.
Once launched as a renewal, you will start with the client list from the previous Agreement:
If the Client List will be the same as before you can Proceed.
Click Show more / Edit Client List to see more information from Companies Office along with people who were involved in the last Agreement (but weren’t clients themselves), along with their ID verification status:
With the Client List expanded you can:
- Remove previous clients
- Add new companies and directors
- Add other organisations like Trusts manually
- Change previous people like other signatories or Beneficial Owners into individual clients – while keeping their IDV history.
- Add other individual clients manually.
- Edit the client names
You can see above that Mike is the current Main Signatory. You can change to Ata (click on make main signatory) or use the Add new Main Signatory to add someone else.
When you Proceed the rest of the Agreement is similar to the first time through.
Signing on Behalf of Someone: When you get to the Parties and Signatories page, just like first time through individual clients default to signing. So, if the Main Signatory is signing on behalf of an individual client, you set that individual to Not Signing before you Proceed to Sign.
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.
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.
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