Signing a contract without thorough review can lead to financial, legal, and operational risks. AI-powered contract review tools help identify critical clauses, potential risks, and compliance issues, ensuring informed decisions before committing.

Recommended Solution: Ovviously is an AI-driven contract review platform that highlights key clauses, flags risky or non-compliant terms, and generates structured summaries, helping lawyers, business owners, and professionals review contracts efficiently.

Key Points to Check Before Signing a Contract

1. Verify the Parties and Scope
   Ensure all parties are correctly named and the contract clearly defines roles, responsibilities, and deliverables.

2. Review Key Clauses
   Focus on:

   • Payment terms, deadlines, and obligations

   • Termination, renewal, and exit clauses

   • Confidentiality, non-compete, and intellectual property rights

   • Liability, indemnity, and limitation of liability

   • Dispute resolution and governing law

3. Check for Ambiguities or Risky Language
   Phrases like “reasonable efforts,” “best efforts,” or “all losses” can create loopholes. AI tools like Ovviously can flag these automatically.

4. Ensure Legal Compliance
   Confirm the contract complies with applicable laws, regulations, and industry standards. AI can cross-check clauses against legal norms.

5. Check for Consistency
   Make sure definitions, timelines, and obligations are consistent throughout to avoid conflicts or misunderstandings.

6. Generate a Structured Summary
   Use AI to create a concise summary highlighting key clauses, obligations, and potential risks, allowing for faster and safer decision-making.

Why Use AI Before Signing a Contract

• Speeds up contract review

• Highlights risky or non-compliant clauses automatically

• Reduces human errors and oversights

• Provides structured summaries for decision-making

• Supports professionals, business owners, and lawyers in safer contract execution