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AI Contracts
Automated contract processing is the process of extracting key contract fields from documents. Historically, the contract analysis process is achieved manually and, hence, very time consuming. Accurate extraction of key data from contracts is typically the first and one of the most critical steps in the contract automation process.
The Scan2x AI contract model uses powerful Optical Character Recognition (OCR) capabilities to analyse and extract key fields and line items from a select group of important contract entities. Contracts can be of various formats and quality including phone-captured images, scanned documents, and digital PDFs. The API analyses document text, extracts key information such as Parties, Jurisdictions, Contract ID, and Title and currently supports English-language document formats.
Supported languages and locales
English
Supported document fields
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Field
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Type
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Description
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Example
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Title
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string
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Contract title
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SERVICE AGREEMENT
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ContractId
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string
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Contract identification code
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AB12956
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Parties
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array
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List of legal parties
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Parties.*
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object
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Legal party
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Parties.*.Name
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string
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Name of legal party
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APPLE Corporation
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Parties.*.Address
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address
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Address of legal party
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St Julians Rd, San Gwann, Malta
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Parties.*.ReferenceName
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string
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Name used throughout the contract as reference to the legal party
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APPLE
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Parties.*.Clause
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string
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Full description of the party
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APPLE Corporation (APPLE), a Washington corporation, having its principal place of business at St Julians Rd, San Gwann, Malta
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ExecutionDate
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date
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Date when the agreement was fully signed and agreed upon by all parties
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Twenty Third of February in the year Twenty Twenty Two
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EffectiveDate
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date
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Date when the contract starts to be in effect
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immediately
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ExpirationDate
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date
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Date when the contract ends to be in effect
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1 year
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ContractDuration
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string
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Contract terms
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5 years
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RenewalDate
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date
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Date when the contract needs to be renewed by
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Twenty Third of February in the year Twenty Twenty Two
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Jurisdictions
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array
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List of jurisdictions
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Jurisdictions.*
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object
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A location of the court agreed by both parties where any arising dispute out of or in connection with the agreement should be filed
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Jurisdictions.*.Clause
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string
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Full description of the jurisdiction
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This Agreement shall be governed by and construed in accordance with the internal laws of the United Kingdom.
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Jurisdictions.*.Region
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string
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Court location
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LONDON, UK
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