Contracts Glossary

Browse 19 contracts terms defined in plain English, from the cultural dictionary of computing.

19 Contracts Terms

API Response
The data and status information returned by an API after it processes a request. A well-designed API response has a stable structure, clear semantics, and...
API Specification
A formal description of an API's operations, parameters, schemas, authentication, and expected responses, often written in a format such as OpenAPI. API...
Committed Revenue
Revenue contractually committed by customers, typically through signed agreements, even if all of it has not yet been recognized in accounting. It is useful...
Contract Value
The total monetary value of a customer contract, which may span multiple years and include recurring and non-recurring components. Teams often distinguish it...
Deal Terms
The conditions, rights, obligations, and economics attached to a transaction, contract, or financing. Founders often learn that deal terms matter as much as...
Fee Structure
The way charges are organized, such as flat fees, percentage fees, setup fees, or performance-based components. Fee structure often matters as much as headline...
Framework Agreement
A high-level contractual structure that defines the general terms under which future specific transactions, orders, or statements of work will operate. It is...
Interface
A contract that defines a set of method signatures without implementations, which concrete classes must fulfill. Enables polymorphism, dependency inversion,...
Letter of Intent
A document stating serious intent to pursue a transaction or agreement on broad terms, often before final definitive contracts are signed. Letters of intent...
NDA
Short for non-disclosure agreement, a contract requiring parties to keep certain information confidential. NDAs are common in fundraising, hiring,...
Non-Compete
A contractual clause restricting someone from joining or starting a competing business for a specified time, geography, or market after leaving a role. Its...
Non-Disclosure Agreement
A legal agreement requiring parties to keep specified information confidential and limit how it is used or disclosed. It is commonly shortened to NDA in...
Risk Transfer
A risk response in which some financial or operational consequences are shifted to another party, often through insurance, outsourcing, contracts, or...
Service Agreement
A contract defining the services to be provided, responsibilities of each party, and the commercial and legal terms of the relationship. Startups use service...
Service Level
A defined standard for performance, availability, response time, or other operational commitments in a service relationship. Service levels matter because...
SLA Slang
An informal use of 'SLA' to mean any expectation of response time or service quality, even when no formal service-level agreement exists. It shows how contract...
SOW
Short for statement of work, a document that specifies the scope, deliverables, timeline, and responsibilities for a services engagement or implementation...
Standard Terms
The default legal and commercial terms a company normally uses in its agreements before custom negotiation. Standard terms matter because every exception adds...
Total Contract Value
The full value of a customer contract across its entire term, including recurring and one-time components as defined by the company. Total contract value is...

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