GC AI Glossary
Commercial Terms terms
6 terms from the GC AI glossary, each explained in plain English.
F
Fees
Commercial TermsThe specific amounts charged for services, products, or licenses as outlined in the agreement.
I
Invoice
Commercial TermsA commercial document requesting payment for goods or services provided under the contract.
O
Order form
Commercial TermsA transactional document specifying the exact products, pricing, and quantities being purchased under a master agreement.
P
Payment terms
Commercial TermsThe rules governing when and how payments must be made, such as 'Net 30'.
S
SLA
Service levels
Commercial TermsA Service Level Agreement defining the expected performance metrics, uptime, and support response times.
SOW
Statement of work
Commercial TermsA document detailing the specific tasks, deliverables, and timelines for a project or service engagement.
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