visdom services
Clauses
This page lists the clauses that Visdom can recognize. It is organized by taxonomy and contains the Visdom definition of the category.
For technical documentation and use examples please see the REST API documentation.
Common Clauses
A formal change made to a contract.
An arbitration clause indicates that the parties will resolve disputes through an arbitration process. It may contain additional information about which arbitration rules will be used and how arbitrators are selected.
The assignment clause defines what rights, benefits or obligations may be transferred from one party to another.
Allows a party to have access and review the other's party's books, records, documents, equipment or premises depending on the type of contract.
States that each party has the power and authority to enter into and be bound by the terms of an agreement
Legally binds the parties to the agreement
A change in management or company's ownership that results in a change of decision-making of that entity being managed by a different group of shareholders and/or directors.
This clause states that a party agrees to comply with, and is not knowingly in violation of, all applicable laws, regulations and rules.
A promise, performance, or forbearance by both parties that induces them to enter into an agreement or contract.
CobbleStone will tag information about the interpretation of a contract as Construction. This will include information about headings, genders, certain pluralization's, and ambiguities.
The counterparts clause specifies that parties may sign separate copies of an agreement.
A provision that defines the scope of the agreement. It states that parties agree to the terms in the agreement only and are not liable for any statements or represetnations that are not included in the agreement.
A clause that frees parties from obligation if an event or circumstance beyond reasonable control occurs.
Found in amendments where the original contract has not been restated. This clause indicates that elements of the original contract that are not specifically addressed in the amendment will remain in full force and effect.
CobbleStone training data combines Governing Law and Jurisdiction. This clause defines where a dispute will be resolved and which jurisdictions laws will be used.
A legal agreement by one party to hold another party responsible for damages within the agreement.
The type of injury which no monetary compensation can cure or an award of damages that cannot be provided.
A limitation of liability clause limits the damages that one party is obligated to provide to another in the event of a breach or failure.
The introduction to the contract that identifies the parties. It often restates the contract title/type and may include the effective date.
An agreement to keep the existing arranging in force for an additional period of time.
A contract clause within a contract that has two or more agreements that are distinct enough to where one part can be invalidated without invalidating the whole contract.
States that a party may terminate a contract without cause or penalty, usually with reasonable notice. The amount of notice can be extracted using Named Entities
This is the no-waiver clause that protects parties from inadvertently waiving contractual rights.
When both parties agree to waive the right to have a jury trial.
A contract provision that prohibits a insurance carrier to seek redress or seek compensation from a negligent third party.
Confidentiality
Describes the actions that should be taken if the recipient of confidential information is required to make a discloser
Exceptions for when the certian information is not considered confidential such as public domain records.
States that the parties are not obligated to proceed with any arrangement beyond what is explicitly stated in the agreement
Exceptions that allow disclosures of confidential information when required to comply with laws or regulations
Describes acceptable use for confidential information
Describes how the confidential information should be treated, what individuals may have access
Defines what happens to confidential materials at the end of the contract.
Definitions
A person or entity that directly, or indirectly, through one or more intermediaries, controlling, controlled by, or under common control with, the Company.
A committee or group of persons elected to serve the company.
Defines what information is considered confidential, what information is not considered confidential and what media may contain the confidential information.
Employment Clauses
Describes continuation of health insurance provisions between employer and employee
States that an employee is expected to devote substantially all business time to the employer. May also state allowed exceptions such as time devoted to charitable organizations.
A clause that details what employee expenses a company will reimburse and any restrictions that may apply.
This clause states that all company property shall be returned to the company when employment ends.
Laws and Regulations - United States
The Foreign Corrupt Practices Act of 1977 was enacted for the purpose of making it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or retaining business
Lease Clauses
Defines which party is responsible for maintenance and repairs. If responsibilities are shared it may also define what items are assigned to each party
Defines who is responsible for paying for utility services.
Licensing Agreement