Assessing Contract Terms, Including Force Majeure, Using AI

As the impact of COVID-19 spreads globally, supply chains and commodities markets have been thrown into turmoil, consumer spending has declined and non-essential businesses have closed their doors and suspended services. Using Artificial Intelligence (AI) technology, MT>3 can quickly and efficiently review your existing contracts for force majeure and other contract provisions (including termination, indemnification, insurance provisions and more) to identify areas for relief.

MT>3’s Efficient, Cost-effective Approach

By engaging our MT>3 division, an experienced in-house team of knowledgeable, Canadian qualified contract review lawyers, we will help you find innovative solutions to protect your business. Here’s how it works:

  • The MT>3 team leverages AI technology to undertake review of your contracts significantly faster than traditional, low-tech, manual review and have greater accuracy, flexibility and efficiency
  • For analysis of force majeure provisions and other related clauses, MT>3 will use contract review technology, a cloud-based software platform, which automates contract review by using AI and machine learning to review contracts, identify and extract provisions of interest for further analysis and review
  • By using the technology’s pre-trained Force Majeure model, MT>3 will quickly identify which agreements include force majeure provisions (and other provisions that may apply in the circumstances) to determine the potential impact on your businesses

Experienced Insights

From what we’re seeing with clients so far, businesses affected by the coronavirus outbreak may have multiple avenues to mitigate business impacts by deferring payments, delaying or avoiding performance or recovering monies owed under their contracts, provided they do so strategically, with the advice of experienced counsel.

When time is short and answers are needed quickly and with a high degree of accuracy, MT>3’s contract review technology can help businesses make faster and better informed decisions.