Electronic Contract of Sale (eCOS) from InfoTrack look set to revolutionise Contract Packs

Posted: 26 May 2016

The time-consuming process of completing Contract Packs using Word templates is being revolutionised by InfoTrack. All the relevant forms that form the pack, including the TR6 and TR10, will be brought online and will pre-populate with data already entered within the InfoTrack platform fundamentally saving time and effort.

The Contract Pack will use data already entered in the system to populate the various fields. Conveyancers will have the unique ability to then edit the information within the InfoTrack platform. Previously, the form would need to be completed using a Word template before saving, printing, collating and scanning the contract to create a PDF whereas now, everything can be conducted through the online platform.

InfoTrack say that this streamlining of the process will save conveyancers hours of time and help minimise errors that lead to delays in the process. Having already integrated SDLT Submissions, Searches and Land Registry services, InfoTrack clearly continue to demonstrate an innovative approach by incorporating the complete contract pack (including the TR6 and TR10) into a single platform.

Scott Bozinis, InfoTrack’s CEO, comments “Why should anybody need to complete a form by re-keying the same information over and over? Pre-populating the Contract Pack digitally is a revolutionary step forwards for conveyancers. Currently, completing the necessary documents, including the TR6 and TR10, is a cumbersome, time-consuming task and just one small error can lead to delays that impact a whole chain.

“Using Electronic Contract of Sale (or eCOS for short) within the InfoTrack platform offers conveyancers clear benefits such as greater efficiencies for improved profitability.”

The announcement by InfoTrack comes just a few short weeks after their AP1 integration release, which includes requisition communications within the platform. Having only operated in the UK for 11 months, InfoTrack are changing the way conveyancers think about and approach their processes.

Scott continues, “As a service provider to the legal market, our task is to challenge the existing processes and evolve the current processes. We know that conveyancers want help streamlining the process. That has to be our target and we’re committed to making it happen by using simple, smart technology that delivers to their needs.”

 

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