Back to Prompts
Data ExtractionGPT-4o

Extract Contract Key Terms

Prompt
Extract the key terms from the following contract into structured data.

Contract:
{{contract_text}}

Extract and return the following information in JSON format:

{
  "parties": {
    "party_a": "[Full legal name]",
    "party_a_role": "[e.g., Vendor, Client, Licensor]",
    "party_b": "[Full legal name]",
    "party_b_role": "[e.g., Customer, Licensee]"
  },
  "dates": {
    "effective_date": "[YYYY-MM-DD or null]",
    "expiration_date": "[YYYY-MM-DD or null]",
    "renewal_terms": "[e.g., Auto-renews annually, Month-to-month, or null]"
  },
  "financial": {
    "total_value": "[Amount with currency, or null]",
    "payment_terms": "[e.g., Net 30, Monthly, Upfront]",
    "payment_schedule": "[Description or null]"
  },
  "termination": {
    "notice_period": "[e.g., 30 days, 90 days]",
    "termination_for_convenience": true/false,
    "termination_conditions": ["[Condition 1]", "[Condition 2]"]
  },
  "liability": {
    "limitation_of_liability": "[Cap amount or description, or null]",
    "indemnification": "[Brief summary or null]"
  },
  "intellectual_property": {
    "ip_ownership": "[Who owns created IP]",
    "license_granted": "[Type of license if any]"
  },
  "governing_law": "[Jurisdiction]",
  "confidentiality_term": "[Duration or null]",
  "red_flags": ["[Any unusual or concerning clauses]"]
}

Rules:
- Use null for any field where information is not found
- Dates must be in YYYY-MM-DD format
- Currency amounts should include the currency symbol
- red_flags should highlight unusual terms like unlimited liability, non-standard IP transfers, or one-sided termination rights
- Return valid JSON only, no additional commentary
Example

Input

MASTER SERVICES AGREEMENT between Acme Corp ("Client") and Tech Solutions Inc ("Vendor") dated January 15, 2024...

Output

{
  "parties": {
    "party_a": "Tech Solutions Inc",
    "party_a_role": "Vendor"...