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CLM Glossary

From contract initiation to execution, this guide is crafted to assist contract professionals in grasping the nuances of contract lifecycle management.

All A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Indemnification and Liability

Describes the responsibilities of each party in the case of legal claims, damages, or liabilities arising from the services provided.

Indemnity Agreement

Legal pertains to the aspects of contracts and contract management that involve adherence to laws, regulations, and legal standards. Legal considerations are integral to drafting, negotiating, and enforcing contracts.

Independent Contractor Agreement

An Independent Contractor Agreement is a contract that defines the terms of engagement between a hiring entity and an independent contractor. It outlines the scope of work, compensation, and other relevant details.

Industry Standards

Established norms and criteria that dIndustry Standards in CLM refer to established norms, practices, or guidelines within a specific industry. Contracts may incorporate industry standards to ensure compliance and best practices.efine acceptable practices within a specific industry, influencing how contracts are managed.

Influencer Agreement

An Influencer Agreement is a contract between a brand or company and an influencer. It outlines the terms of collaboration, including deliverables, compensation, and expectations.


Initiation of a contract is typically triggered by a contract request from a business unit, department, or individual within the organization.

Insurance Requirements

Outlines any insurance coverage that the vendor is required to maintain during the term of the agreement.

Intakes and Requests

Intakes and Requests involve the formal submission and processing of requests for new contracts or contract-related actions. It includes capturing essential information to initiate the contract lifecycle.