The terms that decide what a contract actually costs you, explained in plain English. Written for people who sign contracts without a legal team — not for lawyers.
An arbitration clause sends disputes to a private arbitrator instead of a court.
An assignment clause controls whether a party can transfer the contract — its rights, its obligations, or both — to somebody else.
An auto-renewal clause means the contract renews itself unless somebody actively stops it.
A change of control clause governs what happens when one party is acquired, merges, or undergoes a substantial change in ownership.
A confidentiality clause inside a larger agreement does the same job as a standalone NDA: it defines what must be kept private and for how long.
A force majeure clause excuses performance when something outside a party's control makes it impossible or impractical.
A governing law clause names the jurisdiction whose law applies to the contract.
An indemnification clause says that if something goes wrong, one party pays for the other party's losses.
An IP ownership clause decides who owns what gets created.
A limitation of liability clause puts a ceiling on what one party can be made to pay the other if things go wrong.
A liquidated damages clause fixes in advance what one party pays the other for a specific breach.
A one-way NDA (sometimes called unilateral) binds one party to keep the other's information secret.
An NDA is a contract about secrets: who may share what, who must keep it quiet, and for how long.
A non-compete restricts someone from competing with the other party for a period after the relationship ends.
A notice period is how far in advance you must tell the other party before doing something the contract allows — terminating, declining a renewal, disputing an invoice, or objecting to a change. The number is only half of it.
Payment terms set out how much, when, and what happens if payment is late.
The scope of work describes what is actually being delivered.
A severability clause says that if a court finds one provision unenforceable, the rest of the contract still stands.
Termination for convenience lets a party end the contract without anyone having done anything wrong.
A warranty disclaimer states what the provider does not promise.
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Review a contract free →These definitions are general information about how contract terms usually work. They are not legal advice, and how a clause applies depends on the rest of the document and on where you are. For a high-stakes agreement, talk to an attorney.