How often do IT contracts have penalties for late payments?
β 46% of pre-negotiated vendor contracts have penalties for late payments.
β Only 17% of customer forms have such penalties.
β Meanwhile, 31% of negotiated contracts carry late payment penalties.
Join us for Office Hours!
π Date: September 7th
β° Time: 12 PM MST
Our Director of Client Solutions, Kelsey Morton, JD, will be hosting a 30-minute session. You'll get the chance to:
π See the platform in action.
β Ask any questions you might have.
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In IT #contract trends, third-party #IPinfringement consistently tops #indemnification concerns across all contract types. ππΌ But there's a shift in secondary priorities; check out our images to see what they are π
πβ Unlocking the Power of Certified Contracts in Business Transactions!
Certified contracts in the business realm offer a seal of assurance for organizations & customers! Dive deep into their importance, roles, and future in our latest article. π
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65% of negotiated contracts have mutual #confidentiality agreements, compared to 49% of vendor pre-negotiated forms and just 24% of customer forms. Negotiation is key for mutual confidentiality, and vendors are leading the way. #DataInsights#BusinessIntelligence
Transform your #LegalOps with #AI powered contract review tools. Get the inside scoop on how to choose the right tool for your needs, future trends, and how TermScout can elevate your review process. Dive in: hubs.la/Q01YDTrP0#LegalTech#ContractReview#TermScout
Introducing our AI Legal Assistant! This advanced contract review tool streamlines legal operations and provides instant answers to contract queries. No more lengthy contract scans - just fast, accurate responses. Here's to a future of frictionless contractingπ
πΌ Manual contract reviews? Time-consuming and error-prone. #AI-powered contract reviews? Efficient, accurate, and insightful.π
Read how AI is transforming contract law and how to best implement it. Remember, AI helps, not replaces, your legal team!π€
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π Did you know? 82% of NDAs feature mutual confidentiality. A clear sign that protection of sensitive info isn't one-sided, but a shared responsibility. Remember this trend in your next NDA negotiation! Balance, trust & risk management in play. #BusinessEthics#NDAs
π£ Big News! π£ TermScout now offers FULL coverage for Non-Disclosure Agreements (NDAs) in our contract review services! Say goodbye to legal jargon, and hello to transparency & peace of mind. π΅οΈββοΈππ Scout your first NDA today. #TermScout#NDA#ContractReview
βοΈ#AI vs. Manual #ContractReviews: What's the best approach?
π€AI: Quick & accurate, but lacks human intuition & has a limited scope.
π¨βπΌManual: Detailed & flexible interpretation, but time-consuming & subjective.
Learn more β‘οΈ hubs.la/Q01WgdD90
π€π’ Dive into the fascinating world of AI for contracts with our upcoming webinar with @lawinsider. Don't miss out on the chance to chat with our CEO and CTO during the AMA session. Join us on June 28th at 11 AM MST
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π#AI is revolutionizing #CorporateLaw & #Procurement! Say hello to AI contract review - transforming lengthy, error-prone contract processes into swift, efficient operations. Discover the future of legal workflows in our latest article.
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Experience the power of AI with our updated Predictedβ’ Review! π€ Upload any IT/service contract & simplify your workload. Spot uncommon clauses, get instant responses from our AI legal assistant, or benchmark against similar contracts. Start here: hubs.ly/Q01VhfLs0
Vendors are required to ensure #subprocessors are bound by data or privacy requirements in 54% prenegotiated vendor forms, 46% prenegotiated customer forms, 73% negotiated #contracts, meaning businesses are prioritizing #dataprivacy to meet customer expectations & regulations.