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An action that demands action.

A voluntary sworn declaration of written facts. These statements are written and signed under oath. Affidavits are commonly used to present evidence in court.

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An alternate dispute resolution method that avoids any judicial court procedures. Disputes are resolved outside of a court of law by a third party. The third party could be an individual or a group of people. Arbitration is non-binding, meaning that the decision is advisory and can be final only if accepted by all parties.

Records the flow of a transaction from initiation to finalization.

A form of payment that is accepted at a bank.

A legal proceeding involving a person or business that is unable to repay their outstanding debts.

An offer price is given from the buyer to the seller in a transaction.

A Latin term meaning "good faith". Absent of fraud. Authentic.

A broken promise. At least one party in a binding agreement fails to deliver according to the terms of the agreement.

A legally binding agreement involving an offer, acceptance, consideration, and mutual voluntary consent.

Compliance means conforming or complying with a set of rules or regulations that have been agreed on in the contract.

Confidentiality is a set of rules or clauses in the agreement that ensures the privacy of a party's information.

A legally binding document between two or more parties that governs the rights and duties of a party to an agreement.

Manages risk in the contract life cycle. Risks can include contractual obligations, payment terms, budgets, timeliness, etc.

Contract amendment is an altercation to the original signed document, it could be addition of a new clause or the removal of one or some other changes.

Contract automation is the practice of using digital software to manage contract documents and other contract management activities.

Contract lifecycle management is the process of managing each and every stage in a contract lifecycle in a methodical and professional manner.

Contract management software is a program or software that is used to digitalize contract management processes like creation, negotiation amendment signature, and data analysis.

A corporate contract is an agreement between two or more corporate business entities that govern the scope and terms for the exchange of services, works, goods, etc.

A signed legal document that grants its holder specific rights (ownership) to an asset.

A failure to do something required by law.

A legally binding agreement setting forth all material terms, conditions, and other provisions relating to a transaction. It is signed by each party.

Items that a service provider is obligated to provide to a client.

A digital contract is one that is entirely based on the computer, with no paper involved. The contract originates on a computer, is signed with a digital signature (e-signature), and is stored on a computer (or in cloud storage).

The agreed date on which the obligations in the contract go into effect. Contract obligations begin on this date.

Defines the scope of the contract. Any other verbal or written agreements are invalid.

The date a contract ends. Contract is no longer active after expiration.

Facilities management is the service to be executed by the service provider to retain the value of a project or any other asset thereby ensuring functionality, comfort, safety, and efficiency of the built environment to its users and function as envisioned. The contract made upon this is called facilities management contract.

It is a cloud/SaaS, deployed, or mobile-ready financial contract management solution that lets the finance team quickly find the exact files and data so that they can make the precise financial decisions like optimizing operations, reducing inefficiencies, improving compliance, quick reporting, and auditing of complex financial data.

A stage when all the conditions of a financing agreement made in a PPP (Public-private partnership) contract are fulfilled prior to any conditions precedent for financing are met and financing is in place so that the Project Company can commence construction.

Financing is the process of providing funds or the source of money required upfront to meet the business activities, making purchases, or investing.

It simply refers to the unforeseeable circumstances or events that are outside the control of either of the parties that prevent them from fulfilling a contract.

It is an agreement made between two parties where there is an investment by the investor or source of money required to meet the payment obligations. The issuer in return guarantees a fixed rate of return over a time period to the investor.

It is an intangible and quantifiable asset that can be attributed to the reputation of an established business.

Governing law is a provision in legal or contract agreements made between companies and their users which will be governed, construed, and enforced in accordance with the rules and laws of a state to conclusively interpret the agreement.

Governments purchase software and services from other parties through acquisition contracts, these contracts can be defined as government software contracts.

A guarantee is a promise or assurance, especially a written promise by that something is of definite quality and that it will perform reasonably for a particular period of time.

Healthcare contract management is the process of managing the contracts at a healthcare institution in such a way that ensures that it stays compliant and enables them to provide better service.

If one contract document is referred to in another contract document, it is called incorporated contracts.

Indemnity is a legal obligation that requires one party to compensate any loss incurred to the other party due to the actions of indemnitor or any other party.

Intellectual property rights are legal rights of a party on their original works, inventions, artistic works, scientific inventions, products, etc.

When two parties based in two different countries enter a legally binding contract, those kinds of contracts are called international contracts.

A business entity created by two or more parties is called joint ventures.

It is an authority granted to a legal body to administer justice.

It is a type of performance measurement for contracts. KPI's evaluate the success of contract management processes.

An agreement between two or more parties creating mutual obligations enforceable by law.

Being legally responsible for something.

It is a permit from an authority that allows the user to own, use, perform or practice something.

It is a process by which a company is brought to an end. Its assets and properties get redistributed.

Maintenance contract is a contract or agreement made between two parties regarding preserving an asset, equipment, machinery or building infrastructure possessed by one party by another party.

A management contract is an agreement or contract made between project investors with a management company where the operational control of the project is vested in the management company. Management contracts involve performing the necessary managerial functions by a management company in return for a fee.

Merger is an agreement that combines two or more independent business corporations into a single enterprise which is mainly done to enlarge a company's reach, develop into new segments, or increase market share.

Multi-party contracts are agreements made by numerous stakeholders like owner, primary designer, primary builder and other key parties without loss of information in a business deal.

It is a formal dialogue between two parties before reaching an agreement.

It is a legal agreement by two or more parties which requires them to not disclose confidential information that is shared between them as part of doing business.

It is basically a legal concept describing a requirement that a party is aware of the legal process affecting their rights obligations or duties.

It is a course of action to which a person or party is legally bound.

Offer and acceptance is a general requirement for the generation of a contract.

An agreement that is drafted using onlice contract management software tools can be defined as online contract agreement.

A person or group of persons that can be identified as one that enters a contract agreement.

A transfer of money to another party in exchange for goods or services.

It is legally written authorization that represents or acts on behalf of another in private affairs, business, or other legal matters.

A legal agreement between a construction project owner and contractor.

A statement or legal document that states how a company or business handles and processes the customer data that they collect.

A written agreement between a buyer and seller in which the buyer agrees to purchase goods and or services from the seller in exchange for payments.

It is a method of preventing defects or mistakes in a product and maintaining a desired level of quality.

A Latin phrase that means an exchange of goods or service.

To provide an estimate of the price for a job or a service.

A legal contract management process that is processed remotely.

A legal principle of entitlement.

It is a contract made between an organization and a software developer where the organization mentions its notions and conditions.

A supplier is a person, entity, or organization that is the source or that which provides something such as goods or services.

It is a provision in a contract.

A contract termination means the end of a contract, all the agreements in that contract become void after termination.

These are contract agreements that cover all business-related contracts.

Underwriters are found in stock markets, insurance, and banking and an underwriting contract is an agreement made between an underwriter and an issuer of securities.

A difference between two parts of the same legal proceeding.

Business contract between two parties covering exchanges of goods or services in return for compensation.

It is a formal statement of voluntary relinquishment or intentional surrendering of some known privilege or legal right by a party to a contract. By signing a legally binding provision like waiver, either party in a contract agrees to forfeit a claim without the other party being liable.

According to contract law, a warranty is a written guarantee or a term of the contract. Warranty may cover the product, promising to repair or replace it free of charge or according to conditions specified in the warranty.

It is a contract of service or agreement of building construction, any movable or immovable property which may also involve the supply of goods in the execution of the contract.