Contract Analyzer and Generator

AOAI’s models can be a valuable tool for contract analysis, helping the legal department and contract managers save time and avoid potential legal issues.

Thanks to their deep language understanding capabilities, lawyers and contract managers can gain a deeper understanding of legal documents, reduce the risk of disputes and litigation, and ensure that contracts accurately reflect the intentions of all parties involved.

Examples of AOAI’s applications

Some examples of AOAI’s applications with contracts are as follows:

• Identifying key clauses: AOAI’s models can analyze a contract and identify key clauses, such as those related to termination, indemnification, and confidentiality. This can save time and help ensure that all important clauses are considered during the analysis process.

• Analyzing language: AOAI’s models can help identify complex language and legal jargon, making it easier for lawyers to understand the intent and meaning of the contract. This can help avoid misunderstandings and disputes down the line.

• Flagging potential issues: AOAI’s models can help flag potential issues with a contract, such as ambiguous language or conflicting terms. This can help lawyers and contract managers address these issues before they become major problems.

• Providing contract templates: AOAI’s models can provide templates for common contracts, such as non-disclosure agreements or service agreements. This can save time and ensure that contracts are consistent and comprehensive.

• Assisting with contract review: AOAI’s models can assist with the review process by highlighting areas that require attention or clarification. This can help ensure that all parties are on the same page and that the contract accurately reflects the intentions of all parties involved.

We will see an example of each of these elements in Python and, by the end of this chapter, an end-to-end implementation with Streamlit.

Identifying key clauses

Contracts are an integral part of any business or legal agreement, but they can be complex and time- consuming to analyze. To simplify the process and ensure that all important clauses are taken into account, AOAI’s models can assist by identifying key clauses within a contract. These key clauses may include provisions related to termination, indemnification, confidentiality, and other critical aspects of the agreement.

For example, suppose a company is reviewing a contract with a vendor to provide services. The contract contains multiple pages of legal language, making it challenging to identify the essential provisions that could have significant consequences for the business. By using an AOAI model, the company can analyze the contract and identify the key clauses related to termination, indemnification, and confidentiality. This will enable the company to focus on the critical provisions and understand the potential risks and benefits associated with them.

In this way, the identification of key clauses by AOAI’s models can save time, reduce the risk of oversight, and help ensure that businesses make informed decisions when reviewing contracts.
The following is an example of a service-providing contract: