Contract Review-Supporting System

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A Contract Review-Supporting System is a contract analysis-supporting system designed to assist in contract review tasks, including spotting potential issues within contract documents.



References

2024

  • LLM
    • Contract review software applications are designed to streamline and automate the contract management process, offering capabilities that enhance efficiency, accuracy, and compliance. Common features include automated clause and term extraction, which identifies and categorizes key terms within contracts, and real-time contract analytics that generate detailed reports to provide insights into risks and obligations​. These tools often include template and clause management systems to standardize contract drafting, and approval workflow management to streamline reviews and approvals​. Collaborative features, such as browser-based redlining, allow for real-time document editing and negotiation.
    • Additionally, risk and compliance monitoring capabilities help detect non-compliant terms and alert users to potential issues​. Platforms may also offer obligation and renewal tracking to prevent missed deadlines, alongside e-signature integration for seamless contract execution​. Advanced document storage and smart search functionalities enable quick retrieval and organization of contracts​. ** These capabilities reduce manual effort, improve transparency, and ensure legal and business alignment in managing high volumes of contracts

2024