<owl:Class xmlns="https://folio.openlegalstandard.org/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:v1="http://www.loc.gov/mads/rdf/v1#" xmlns:owl="http://www.w3.org/2002/07/owl#" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" xmlns:folio="https://folio.openlegalstandard.org/" xmlns:rdfs="http://www.w3.org/2000/01/rdf-schema#" xmlns:skos="http://www.w3.org/2004/02/skos/core#" rdf:about="https://folio.openlegalstandard.org/R9g0tsF68ZfL1dvdj4jdg1t">
  <rdfs:subClassOf rdf:resource="https://folio.openlegalstandard.org/R70jMZb6xYrVCXW6f3EbO1e"/>
  <rdfs:label>Contractual Standardization</rdfs:label>
  <skos: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.</skos:definition>
</owl:Class>