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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

Obligation Tracking

Obligation Tracking involves monitoring and managing the commitments and responsibilities outlined in a contract. It ensures that parties fulfill their obligations in a timely manner.


An offer is a proposal made by one party to another, indicating a willingness to enter into a contract under specific terms. It forms the basis for the negotiation and creation of a legally binding agreement.

Open AI

OpenAI is a private research laboratory that aims to develop and direct artificial intelligence (AI). ChatGPT is a product developed by OpenAI.

Order Form

An Order Form is a document that specifies the details of a specific order or transaction. It may include product or service details, quantities, prices, and other terms related to the purchas

Outsourcing Agreement

Governs the relationship when a company hires an external provider for specific services.