Contract metadata extraction use cases

In contract metadata extraction, use cases specify the information that you want Now Assist to detect in a document.

The CM Pro-Contract Metadata Extraction use case is available with the Now Assist in the Contract Management base system. This use case is not editable.

Note:

If you create your own use case or customize a copy of an available use case, be sure to test it thoroughly to verify accuracy.

The following fields are configured in the CM Pro-Contract Metadata Extraction use case for metadata extraction.

Table 1. Contract metadata extraction fields

Field	Description	Default Target Field
Other party name	The name of the company selling services or goods.	None
Internal party name	The name of the company buying services or goods.	vendor
Effective date	The date from which the contract becomes effective.	starts
End date	The date when the contract is set to expire.	ends
Contract number	A unique identifier for the contract.	vendor_contract
Payment terms	The conditions under which payments are to be made.	invoice_payment_terms
Governing law	The jurisdiction under which the contract will be governed.	governing_law
Contract duration	The duration for which a contract is valid.	contract_duration
Currency	The currency in which the contract is denominated.	None
Contract value	The total value of the contract.	payment_amount
Termination notice period	The notice period required to inform the other party prior to contract termination.	termination_notice_days
Termination fees	The fees payable if the contract is explicitly terminated for convenience and the contract mentions that such termination includes a payment.	termination_fees
Payment frequency	The time interval for making a payment or generating invoice.	payment_schedule
Late payment fees	The fees payable for late payment.	late_payment_fees
Most favored nation available	Availability of clause that covers the most favored nations in the contract document.	most_favorite_nation_applicable
Renewal limit	The maximum percentage increase allowed on a contract’s fee during an annual automatic renewal.	renewal_cap
Liability limit	The maximum amount that a party is obligated to pay in the event of a claim, loss, or breach under a contract.	liability_cap
Includes affiliates	Availability of clause that specifies whether the terms and conditions also extend to the affiliated companies (in other words, Entities controlled by, controlling, or under common control with a party) of the primary contracting party.	affiliates_included
Termination for convenience applicable	Availability of clause that indicates whether a party has the right to end a contract at any time, without reason.	termination_for_convience_rights
Publicity restriction applicable	Availability of clause that restricts either party from publicly disclosing the existence, terms, or details of the agreement without prior written consent.	is_publicity_restricted
Termination for cause	The clause that specifies the reason for termination of contract by a party if the other party fails to meet key obligations.	termination_for_cause
Force Majeure applicable	Availability of clause that protects parties from liability if they are unable to meet obligations due to extraordinary events beyond their control.	is_force_majeure_applicable
Renewal notice period	The notice period to renew a contract.	renewal_notice_period
Renewal termination notice period	The notice period to terminate the renewal of a contract.	termination_notice_period
Auto renewal clause available	Availability of clause that indicates if the contract renews by default unless someone takes an action to terminate it.	has_auto_renewal_clause