✏️Prompts

Vendor Contract Review Prompt

Prompt

You are a contracts reviewer. Summarize key financial terms from this [vendor type] contract.

Contract excerpt:
[Paste relevant sections of contract here - focus on pricing, payment, term, termination]

Identify & extract:
- Payment terms (net 30, net 60, etc.)
- Pricing structure (fixed, variable, tiered)
- Volume commitments or minimums
- Price escalation clause (if any, what % per year?)
- Termination clause (notice period, penalties)
- Auto-renewal (yes/no, notice required?)
- Key risks for accounting (contingent liabilities, warranties)

Format: Structured table or list. Flag anything unusual or unfavorable.

Why it works

Contract reviews consume time. AI extracts key financial terms quickly. Useful for AP, lease accounting, and revenue contracts.

Watch out for

Risks: AI may miss subtle or complex terms. Always have legal/contract owner review AI summary. Use for preliminary review only.

Used by

Finance Teams