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Frequently Asked Questions

  1. Which browsers may be used to access Transaction Commons?

    • We recommend using Chrome, Firefox, Safari, or Edge.

    • Microsoft has reduced its support of Internet Explorer.  Transaction Commons users have encountered issues while using Internet Explorer and we recommend that it not be used.

  2. What file formats are acceptable?

    • Many approved file formats can be posted to Transaction Commons.  But it is important to use a file format that is accessible to all other users.  We suggest that all parties within a transaction agree on acceptable file formats.

    • Certain unusual file extensions may not be approved for use in Transaction Commons.  Contact Transaction Commons to request authorization of a specific file type.

    • Here is the current list of supported filed extensions: pdf, doc, docx, xls, xlsx, ppt, pptx, jpg, jpeg, pjpeg, png, tif, tiff, gif, bmp, mp2.

  3. Is there a size limit for uploaded files?

    • Transaction Commons accepts very large files, but many user systems impose file transfer time-out limits.  If these time-out limits are exceeded for a particular file upload, an error message will be generated.

    • In general, a 50 megabyte or less file upload should not present a problem.

  4. What email notices does Transaction Commons generate?

    • Transaction Commons provides an email notice to new users and periodic notices of new document postings (at intervals managed by your transaction administrator).  New document notices provide a link to the Transaction Commons login screen, but not a direct link to a document without logging in.

    • Sometimes email notices are blocked by spam filters – please confirm that these messages are not blocked.

  5. What happens if I forget my password?

    • After a few incorrect login attempts your access to Transaction Commons will be locked.  Following the “Forgot Your Password” link on the Login webpage will generate a new password which will be sent to your email address.  It will also reset the access lock – so you will be able to login again.  You must change your password after you have logged in with the system-generated password.

  6. What are the password requirements?

    • Your password must be at least six characters and include letters and numbers.  There is no length limit and we recommend a long and complex password.

    • See our Security Information for more information on the importance of a secure password.

  7. Is two factor authentication available?

    • Yes, and we strongly recommend using it.

    • Please talk with your transaction administrator about whether two factor authentication is appropriate for your transaction.

  8. What is a Transaction Administrator?

    • A transaction administrator is a user with the ability to add new users, folders, and documents within the transaction.

    • There can be multiple transaction administrators in a transaction.

  9. What is a User or Read Only User?

    • A user is anyone authorized to view a specific transaction. This individual has the ability to access and view any document within a transaction. A user also has the ability to open, edit, and post versions of a document within a transaction.

    • A read-only user has the same access as a user within a transaction with respect to accessing and viewing documents. This read-only user access, however, does not allow the individual to edit and post new versions of a document to the transaction.

  10. What is the difference between the Transaction Space and the Reference Document Space?

    • The Transaction Space contains Document Categories, from which edited and versioned documents, such as term sheets, stock purchase agreements or other categories as needed, can be accessed by authorized users.  Within each Document Category, users may review and post versions of each document. Users may read any existing version or post a new version based on their level of access, as granted by the transaction administrator.  Any version posted is clearly identified by number, submitter, date, and whether it is a redlined document. Any changes made to an existing version of a document may be posted to Transaction Commons only as a new, subsequent version.

    • There is also a Reference Document Space within each transaction.  Within this area, investment opportunity and due diligence documents and other documents pertaining to a transaction can be posted and viewed for transaction-related reference.  Documents uploaded to the Reference Document Space are read-only documents and cannot be edited and versioned.

  11. Why don’t I see a document on the “Transaction Dashboard”?  It used to be there.

    • The Transaction Dashboard displays a limited number of recently posted documents.  The number displayed and the time window is established when the transaction is set up.

    • Once enough time has passed or additional documents have been posted, new/recent documents that previously appeared on the Transaction Dashboard list will no longer be visible.  The document would still be found in its appropriate folder in either the Transaction Space or the Reference Document Space within Transaction Commons.

  12. Can more than one person view and edit a document at the same time?

    • Yes.  Any user can access any document at any time in both the Transaction Space and Reference Document Space, even if others have opened the document.  However, if a user posts a new document to the Transaction Space, with or without changes, that document will appear as a new version of the document in the Transaction Space.

    • We recommend that the transaction participants communicate about document revision responsibility.  If multiple parties are revising the same document at the same time and post their revisions, both versions will be displayed in the sequence posted.

  13. I opened a folder on my local computer to post a file to Transaction Commons.  Why don’t I see that file?

    • Transaction Commons controls which file extensions can be posted.  For the majority of transactions, the standard authorized extensions, including all Microsoft Office files, PDF files, and the other extensions listed below, are sufficient.  Additional file extensions may be added by a Transaction Administrator or by contacting support@transactioncommons.com.  For this reason, Transaction Commons does not display every file in a folder on a local computer – it only displays the file extensions that can be posted on Transaction Commons.

    • Here is the current list of supported filed extensions: pdf, doc, docx, xls, xlsx, ppt, pptx, jpg, jpeg, pjpeg, png, tif, tiff, gif, bmp, mp2.