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Aavenir Atlas early access is open Contractflow on the ServiceNow Store since 2019 Runs on ServiceNow, or standalone ProcureTech100 2025/26 Pioneering Digital Solution ISO/IEC 27001:2022 certified, SOC 2 Type 2 compliant

Glossary

What is contract abstraction?

Contract abstraction is pulling the key terms of a contract, such as parties, dates, values, renewal, liability and obligations, out of the document and into structured data that people and systems can search and report on.

Schedule a Demo All Glossary Terms

What gets abstracted

  • Parties, effective date, term and renewal
  • Value, payment terms, price adjustment and caps
  • Liability, indemnity and insurance
  • Termination rights and notice periods
  • Obligations, service levels and reporting duties

Manual versus AI abstraction

Manual abstraction means a person reads each contract and types the terms into a spreadsheet or system. It is slow and inconsistent across a large portfolio. AI abstraction reads the document, extracts each term with the clause it came from and leaves a person to confirm the result.

How Aavenir handles it

Avy reads each agreement and its amendments, extracts the terms into the contract record and cites the clause behind every value, so a reviewer can check it in one click.

Keep reading

Contract obligations Contract obligations are the duties each party agrees to perform under a contract, such as paying on time,.Read more Contract lifecycle management Contract lifecycle management is the process of managing a contract from the first request through drafting,.Read more Contract renewal Contract renewal is extending a contract for a new term, either automatically under an auto renewal clause or.Read more

Frequently asked questions (FAQ)

Common questions

What is a contract abstract?

A short, structured summary of the key terms, dates, values and obligations in a contract, usually one page or one record. It lets people act on a contract without reading the whole document each time. See Avy.

Why abstract contracts?

So the business can find, report on and act on terms across the whole portfolio, for example every contract that renews next quarter or every supplier with a liability cap below a threshold. Read about contract renewal.

Can AI abstract contracts accurately?

AI extracts terms far faster than a person reading each document. The most reliable results come when every extracted value cites the clause it came from and a person confirms it before it is used. See Contractflow.

Have a question we have not answered? Ask the Expert

Schedule a demo

See your contracts run on one record.

  • 1 A 30 minute walkthrough Built around your team, whether that is procurement, legal, IT or finance.
  • 2 Your contracts, not ours Bring a few sample agreements and watch Aavenir AI extract and review them.
  • 3 ServiceNow or standalone We show the deployment that fits the systems you already run.

Prefer to talk first? Contact the team.