No business has been spared from the devastating effects of the current crisis. Some contract agreements are impossible to fulfill and legal experts are being asked to review all contracts for force majeure clauses. Without AI, reviewing force majeure clauses will be a lengthy task, especially since many large corporations can have thousands of contracts, and even small enterprises can be dealing with hundreds.
Our AI-enabled solution is flexible and powerful enough to seek out force majeure clauses in contracts. The solution answers the questions: Is there a specific reference to an “epidemic” or “pandemic” as a force majeure event? If not, are there phrases that relate to government measures, or events beyond the reasonable control of the parties? What happens in a force majeure event?
The solution can be also deployed in the private cloud or on-premises, allowing it to serve multiple customer types and requirements. It provides a consistent user experience and makes it easy to visualize top risks with dashboards and heatmaps, and monitors key risk indicators. Built-in metrics and algorithms offer advanced data processing and statistics, which provide real-time risk assessment reporting.