Summarize a contract for the books

Module 2: Do finance work faster with AI

Course outline

Quick check

Guess first, no penalty. AI summarizes a five-year office lease as "Rent is $4,000 a month." What could it have left out that changes the books?

A lease is a contract to rent property, and a clause is one numbered section of a contract. Leases, loans and supplier contracts hide the clauses that change the numbers: rent rises, payment dates, deposits, interest rates that reset and fees for ending early.

AI is good at the gist of a long contract and weak on completeness. A short summary is short because it dropped things, and the clause you need may be one of them.

So don't ask for a summary. Ask for a list of the exact terms you book, each with its clause number. Then open the contract at each clause and check it. Anything without a clause number is unchecked. And contracts are confidential: use a tool your employer approved for them.

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