How do I send NDAs to buyers / investors via Axial, and can they sign electronically?

Axial’s platform offers significant value and efficiencies at the NDA stage. Here’s an overview of the functionality, followed by some FAQ’s:

  • When you set up a project on Axial, you have the option to attach an NDA.
  • Any parties you reach out to will instantly gain access to view and download that NDA upon expressing interest.
  • Each time that happens:
    • We alert you via email that they’ve accessed the NDA.
    • We automatically update their status in the platform to “NDA Sent”.
  • If, when you uploaded the NDA, you opted for it to be electronically signable, then recipients will be able to sign in-app, via our integration with HelloSign.
  • We’ll send reminders to everyone who accesses your NDA until they either:
    • Sign it on the platform
    • Indicate that it’s been signed offline
    • Or either of you indicate that discussions have ended.
  • Upon their signature:
    • Their status will auto-update to “NDA Signed”.
    • You’ll get a notification that the document’s been signed.
      • The notification will let you download the signed NDA, along with a digital audit trail provided by HelloSign.
      • You and your recipient will be able to download the signed doc at any time via the platform.

FAQs

Q: If I want my NDA to be electronically signable, how do I set it up?

A: In the Documents section of your project’s Deal Information tab, you’ll see an area to configure your NDA. 

  • There, you can opt for the Axial Standard NDA (eSignable), or you can upload your own by selecting “Custom NDA”.

  • Once you’ve selected a file, you’ll be prompted to choose between three Signature Settings:
  • Option 1. Add an eSignature page to the end of my document
    • This will automatically add a new page where recipients will be required to sign. See example below.
  • Option 2. Set up my NDA for eSignature
    • This will allow you to drag and drop custom fields onto your document, which recipients will be required to fill out (e.g., date, first name, last name, title, signature).
  • Option 3. Do not allow recipients to eSign
    • This will only avail the option for recipients to download the document.

Q: When my recipients sign electronically, will that be a mobile-friendly experience?

A: Yes, signatures are supported on desktop and on mobile devices.

 

Q: Do I have to use a PDF, or can I send a Word document, etc.?

A: If you want your NDA to be eligible for eSignature, you’ll need to upload a PDF. However, if you’d rather send another file type to better facilitate negotiations and redlining, that’s A-OK.

 

Q: Is there a maximum file size?

A: To be eSignable, your PDF will need to be less than 40MB. If you opt for another file type, you can upload a document up to 150MB (we rarely see NDAs exceed 1-2MB).

 

Q: I don’t want my NDA to be electronically signable. What are my options?

A: In the Signature Settings popup, just choose Option 3: “Do not allow recipients to eSign”. They’ll be forced to download the doc and sign it the old fashioned way.

 

Q: In my project’s Documents Section, why does it say “Recipients will not be able to e-sign?”

A: This is because your NDA is currently set on Option 3: “Do not allow recipients to eSign”. To change this setting, simply upload a PDF and choose a different option.

 

Q: I set my NDA up for signature, but I want to edit the configuration. How do I make a change?

A: In order to edit your configuration, you’ll need to upload a new NDA and go through the setup flow again.

 

Q: I want to replace my NDA with a newer version. What will happen if I do that?

A: Any recipients who signed your NDA will retain access to their signed copies. Any recipients whose signatures were still pending will now only be able to access the latest version.

 

Q: If I opt to add a signature page, what will that look like?

A: Here’s an example!

  

Q: What if the NDA recipient needs to redline or make adjustments before signing?

A: eSignable NDAs are always downloadable should the need arise.