The Force Majeure clause has been a standard provision in contracts, albeit exercised more during environmental disasters or civil unrest. The past month has shown how powerful & essential Force Majeure can be, and if carefully constructed, can help reduce the economic fallout of global pandemics.
Exposure and resilience are trending terms worldwide, and in these challenging times, Legal Operations are being asked questions regarding Resilience vs Risk of our contracts, both on revenue as well as supply-side.
Ultria would like to help:
We have put together a limited-use version of our Artificial Intelligence engine – Orbit, to provide quick, precise and in-depth contract analysis. This bundled solution for Contract Risk Analysis and Cost Reduction Identification includes ability to process up to 10,000 agreements and can:
- Identify common Force Majeure clause types
- Extract Metadata for Ease of Search & Indexing
- Identify clauses that may enable Renegotiation or Cancellation
- Identify Reliable Revenue / At-Risk clauses (Fixed Term, Termination of Convenience)
- Identify & Evaluate of supply chain opportunities (Audit Rights, Index Trigger, etc.)
Ultria Orbit, including the Risk analysis segment Orbit Protector, has been decoupled from our CLM offering, and can be implemented in a matter of days.
If you would like to explore more, please share your details – our team will get in touch with you promptly.