Contract review requires a system. When finalizing a draft, a contract specialist must prioritize issues and know what to pinpoint. That's why in the Summary block, Loio splits all the extracted contract information into three separate tabs: Critical Issues, Mild Issues, and Key Terms.

Summary data is organized in these tabs according to the priority level.

  • Critical Issues include high-risk mistakes that may result in great consequences;

  • Mild Issues are small formatting mistakes and typos that carry low risk;

  • Finally, Key Terms are made for easier access to key contract data – meaning they are no issues at all.

After Loio has scanned your contract, you can also find Critical Issues, Mild Issues, and Key Terms indicated in Loio’s Table of Contents (ToC).

How to use the tabs?

After Loio’s scanning, you can dive into the Summary report to learn more about the found issues or key information in your contract.

In all Summary tabs, you can see their categories displayed above the found items in your contract. In the example below, you can see two categories of Key Terms – Definitions and Defined Terms plus Essentials.

In each category of Summary tabs, there are types of errors and information details that Loio has detected in your document. In Definitions and Defined Terms, these are Party and Other while Essentials have such types as Governing Law, Money, Dates, etc.

You can learn more about the types of the detected issues and key information details in these tables below:

1. Critical Issues

Category

Type

Money

  • Misspelled decimals;

  • Words and numbers don't match;

  • Inconsistently stated currency;

  • Misplaced currency sign or code;

  • Incorrect dollar abbreviation;

  • Inconsistent amount spelling;

  • Big amount abbreviation;

  • Incorrect euro spelling;

  • Misspelled small amount.

Dates

  • This is a weekend date;

  • Impossible date;

  • The date is past due;

  • Days spelled in letters;

  • Wrong year format.

2. Mild Issues

Category

Type

Money

  • Numbers not stated in words;

  • Space between currency sign and amount;

  • Thousands not separated by a comma;

  • No space between currency code and amount;

  • Redundant decimals.

Dates

  • Ordinal date in format;

  • Comma issues in dates;

  • Wrong day format;

  • Months not spelled in letters.

Definitions and Defined Terms

  • Duplicated definitions;

  • Unused defined terms;

  • Definitions not capitalized;

  • Defined terms capitalized inconsistently.

3. Key Terms

Category

Type

Definitions and Defined Terms

  • Party;

  • Other.

Essentials

  • Governing Law;

  • Money;

  • Dates;

  • Places.

Parties

  • Organizations;

  • People.

Contact Details

  • Email addresses;

  • Phone numbers;

  • Addresses;

  • Placeholders.

When you unfold the type of issues or info details, you’ll see matches Loio identified as Critical Issues, Mild Issues, or Key Terms in your agreement. Below is an example of Critical Issues.

When you click on the wanted match, you’ll move to its specific List of matches.

In the List, you can see all matches mentioned in your contract. To review a specific match within your contract text, click Show more.

If you think that the match is irrelevant for you, click Dismiss.

When you’ve finished reviewing the matches, click Go back to keep working on other categories in the Summary report.

We hope that with Loio’s Summary tabs, you will be able to neatly structure the found errors and key information in your contract and work on them more efficiently.

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