Contractual Standardization

Contractual Standardization - Contractual Standardization refers to the extent to which the terms of a contract are standardized or custom-tailored. Standardized contracts have predefined terms and conditions that are universally applied, facilitating easier trading and regulatory compliance, while non-standardized contracts are customized to meet specific needs of the contracting parties.

Class Information

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Identification

IRI: https://folio.openlegalstandard.org/R9g0tsF68ZfL1dvdj4jdg1t
Label (rdfs): Contractual Standardization
Preferred Label: None
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Definition and Examples

Definition: Contractual Standardization refers to the extent to which the terms of a contract are standardized or custom-tailored. Standardized contracts have predefined terms and conditions that are universally applied, facilitating easier trading and regulatory compliance, while non-standardized contracts are customized to meet specific needs of the contracting parties.
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Translations

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Class Relationships

Sub Class Of: Transactional Objectives
Parent Class Of: Non-Standard Contractual Terms

Standardized Contractual Terms
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Additional Information

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Deprecated: False

Metadata

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