Termination Obligations

Designed For:

This screen is designed for users who want to understand the termination-related obligations in their general commercial contracts.

Purpose:

This screen identifies 10 obligations, posed as questions, that may be found in general commercial contracts and presents the output in a structured format, as follows:

- Responsible Party

- Obligation Summary (plus a standardized version, where available)

- Consequence Summary (plus a standardized version, where available)

- Obligation Trigger

- Trigger Type

- Obligation Type

Limitations, Assumptions, Details:

This screen achieved ≥85% precision and ≥90% recall on a sample of 30+ general commercial contracts.  

Obligation-specific details are included in the User Guidance.

Additional considerations:

- Some questions return detailed summaries while others return yes/no.

- Some questions may only return a single obligation or consequence.

- Time qualifiers, such as 'business' in "business days", are disregarded.