The bar ratings are based on a proprietary scoring algorithm that rates metadata, consisting of analyzing more than 700 bits of structured data points. That metadata forms the basis for TermScout’s contract favorability.
What do the favorability ratings mean?
Customer Favorable: TermScout has deemed that the contract is more than 60% beneficial to the customer.
Balanced: TermScout has deemed that the contract is no less than 40% beneficial to each party.
Vendor Favorable: TermScout has deemed that the contract is more than 60% beneficial to the vendor.
How is the “Category Rank” determined for contracts?
The Category Rank indicates where a contract or provision falls when compared to other contracts or provisions within the same category (e.g., Cloud Platform as a Service Software).
What does “Best-in-Class” mean?
TermScout reviews each contract against other competitors’ contracts within the same industry or category. TermScout’s Best-in-Class rating identifies those vendors that are providing more favorable terms to the customer than others in the same category.
What does “Set Average” mean?
Set Average refers to the average rating based on all of the reviewed contracts in TermScout’s category data set. While an industry data set may not have all the possible products listed within that industry at large, TermScout targets the top products and contracts in each industry and is always growing its database.
What documents were reviewed as the basis for TermScout’s analysis?
The primary document is the main document TermScout reviewed. A secondary document is one that is expressly incorporated into the primary document. The primary document, together with the secondary documents listed as being incorporated into the primary document, is referred to as the “Agreement.”
What is TermScout’s “Clarity Index”?
TermScout’s Clarity Index indicates, on average, how clear the underlying language is in a contract. It is generated by our proprietary scoring algorithm, which scores and aggregates the clarity of individual contract clauses. The levels of the Clarity Index are as follows:
Contract level: this rates how clear the contract language is overall by aggregating all of the clarity ratings within a contract (“Overall Clarity”).
Topic level: this rates how clear the contract language is within each topic (“Topic Clarity”).
The Clarity Index has the following ratings:
High: The language is clear and TermScout is confident in its ability to interpret the agreement.
Medium: The language is relatively clear but TermScout flagged it due to some ambiguity or possible multiple interpretations.
Low: The language was vague, ambiguous, or otherwise difficult to decipher.
TermScout provides its interpretation of the text, but you should place less confidence in any content that is accompanied by a low Clarity Index. Always check the contract itself for more details, and remember that TermScout was designed to be used with your attorney, not instead of your attorney.
What does the “Last Updated” date mean?
The date the review was completed or when TermScout found a change to the Agreement and updated the review.
What does it mean when a contract has Additional Notes?
The contract reviewer provided a note for you to consider when reviewing the rating.
What contractual topics does TermScout review and analyze?
Everything on TermScout is scrutinized by contract professionals. When contract provisions are vague, ambiguous, or otherwise poorly drafted, TermScout provides the best possible answer and tells its customers about the drafting issues through the Clarity Index.
No. TermScout is not a law firm and does not represent you or anyone else as legal counsel. TermScout provides general information about the contracts it reviews. TermScout does not give advice about whether or not you should sign an agreement or how certain legal provisions may impact you.
TermScout provides: Generalized summaries of contract provisions.
Indications about how certain provisions compare to what other companies offer.
Indications about whether certain provisions are more or less favorable to different parties.
How do I reset my password?
Sign out if you haven’t already. To Sign out, click your user icon in the top right of the screen and then click “Sign Out”. Then click “Sign In” and then “Forgot password?”. You can then follow instructions to reset your password.
How do I add seats to my account?
You can add seats to your account by clicking the “My Plan” button on the My Account page.
If I’ve given someone a seat on my account, how do they access it?
If you’ve added an email address to the “Seats” section on the My Account page, that individual can simply create an account with the given email address, and they’ll immediately be associated with your subscription with access to your plan.
How do I view past invoices and billing details for my subscription?
You can view billing details by clicking the “My Plan” button on the My Account page.
How do I update my subscription?
You can update your subscription by clicking the “My Plan” button on the My Account page.
How do I view single contracts that I’ve purchased?
If you’ve purchased access to individual contracts, you can see them under the “My Contracts” section on the My Account page.
Do I have to pay to use TermScout?
TermScout offers basic ratings on contracts for free. To view detailed analysis, payment is required either by subscribing for full access, or by purchasing access to contracts individually. See our pricing page for more details.
If I purchase a subscription, can others at my company access my account?
Subscriptions come with a set number of seats. Seats can be purchased initially or added throughout the life of the subscription. Once you set up a subscription, you can allocate your purchased seats to your colleagues as you see fit.
How can I improve my rating?
Better terms for customers mean higher ratings in TermScout. We welcome the opportunity to work with you to amend your contract to improve your rating. Please contact firstname.lastname@example.org to learn more about this service.
How do I request to add a contract to the publically available TermScout database?
To request that we review a contract and add it to our database, you must be a paying subscriber. If you are a subscriber, you can click the “Contract Request” button on the My Account page and follow instructions from there.
How do I know when my contract request has been completed?
You’ll receive an email when your contract request is completed and live on the site. You can email email@example.com with questions about a pending contract request.
Can I request a non-publicly available contract to be reviewed by TermScout?
For clients who have subscribed to a TermScout service or are working with a TermScout channel partner we review public contracts and private contracts alike. Please contact firstname.lastname@example.org to learn more.
Can I expedite a contract review?
Based on availability we will consider expediting the review of requested contracts. Please contact email@example.com to learn more.
How do I partner with TermScout?
There are a number of ways to partner with TermScout. Please contact firstname.lastname@example.org to learn more.
How do I get my contract to show up on TermScout?
You are welcome to submit a request to TermScout to have your contracts reviewed and added to our ratings. Please contact email@example.com for more information.