Money amounts have to be reviewed thoroughly when preparing a contract. Mild Issues in Money represent low-risk formatting mistakes in money sums. For more severe errors like inconsistent money statements, check Critical Issues in Money.
Let’s learn more about Mild Issues in money amounts that Loio detects and suggests fixing in your contract:
Numbers not stated in words
Loio checks if each money amount is spelled in both words and figures (e.g. "$2,000" and "two thousand dollars") and points if any of the two forms are missing in your contract.
Space between currency sign and amount
Currency signs and numeric money amounts should be written solid in contracts. That’s why Loio considers the lack of space between currency signs and sums a mild issue.
Thousands not separated by a comma
When indicating amounts in numerics, thousands should always be separated by commas.
No space between currency code and amount
Currency code and numeric money amount should have a space between them (e.g. "EUR 6,000" but not "EUR6,000").
Decimal zeros in round numbers may be useless and take much space in contracts (e.g. "EUR 6,000" but not "EUR 6,000.00").
With Loio, you can automatically fix all Mild Issues in Money. To do so, choose the needed match and click on the blue button with the correct version that Loio suggests as a fix.
We hope that Loio’s Mild Issues tab will help you avoid awkward typos in money matters.