Bulk Extract Obligations with Ironclad AI

Before You Begin

Before you run bulk extraction, review your obligation type configuration in Data Manager.

Each obligation type controls what Ironclad AI should look for and how extracted obligations behave after they are created. For example, you can configure:

• Which obligation types should be included in extraction
• The properties collected for each obligation type

• Default status values
• Whether extracted obligations require human review
• Default assignees
• Extraction Instructions that guide the AI

As a best practice, start by testing extraction on a small set of sample contracts. Then refine the relevant obligation types and re-test until the results match what your team expects. You can add up to 20 natural language Extraction Instructions to help the AI identify the right obligations.

How Bulk Obligation Extraction Works

Bulk obligation extraction lets you run AI across many active contracts at once, including contracts already in your repository and contracts being imported. Ironclad AI identifies likely obligations, structures them by obligation type, and surfaces supporting source citations so your team can review the results efficiently.

When your company uses entities, Ironclad AI automatically assigns the appropriate entity to each obligation. For contracts involving three or more parties, it identifies the relevant entity for each obligation and creates a separate obligation for each applicable entity.

Bulk extraction only runs on active contracts, so expired, terminated, and archived contracts are skipped. If an obligation type is configured to require review, the extracted obligation is saved as a draft until someone verifies it. Assignees are applied based on each obligation type's configuration.

Extract Obligations

Bulk Extract Obligations from Existing Contracts in Ironclad

1. In the Dashboard, select the records you want to extract metadata from. You can select up to 2,500 documents at a time or select a view containing up to 2,500 records for AI. A options bar displays at the bottom.
2. Click Extract metadata.
3. Define how you want to determine which data is extracted. You have two options:
   1. Select Choose specific data to select specific obligations you want to extract.
   2. Select Scan all data to extract obligations based on the settings you defined for each obligation type in Data Manager.
4. Select the obligation types that you want Ironclad AI to extract.
5. Start the extraction run.
6. Wait for Ironclad to process the selected contracts. Ironclad shows extraction progress as the run completes.
7. Review the extracted results in the bulk verification experience. For each extracted obligation, you can review the structured values, check the source citation, and use the confidence signal to decide whether the result is ready to keep or needs changes.
8. Edit any extracted values that need adjustment. You can review flagged or draft results first if your team wants to focus on obligations that need closer attention.
9. Verify the obligations you want to keep. Once verified, the obligations are added to the selected contracts and assigned based on the obligation type settings.

Bulk Extract Obligations from Uploaded Contracts

1. Gather your documents on the local machine that you will be using to upload into Ironclad. Ensure that there are no duplicates. Record Upload does not detect duplicates at this time.
2. You can import your contracts through the Dashboard or Imports tab:
   1. To import your contracts from the Dashboard, click New > Upload contracts.
   2. To import your contracts from the import tab, click Imports > Upload Records, and then select Smart Import.
3. Click Imports > Upload Records, and then select Smart Import.
4. If you want to upload records from your device, drag and drop, paste, or click to browse your files. The more documents you upload, the longer the upload takes. An upload of 2,000 records may take a few hours to complete if you have a slower internet speed. The Ironclad application needs to be open during the entire upload process, so we recommend breaking up large uploads into smaller portions if you’re not sure if you will have an uninterrupted, stable internet connection.

5. If you want to upload records from your cloud storage provider, select the cloud storage provider from which you want to import. You will be prompted to login to your cloud storage account and select the desired files for import.

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   Note: You can import from multiple providers or locations within a single import.

6. In the Set record type dropdown, select your record type. This step is optional but recommended if you can batch your uploads by specific contract types. This will save you the effort of manually setting the record type for each record after upload.
7. Click Import.

Obligations are extracted based on the settings you defined for each obligation type in Data Manager.

Review Extracted Obligations

1. In the top navigation bar, click Obligations.
2. There are two ways to review obligations:
   1. List view: Displays a static list of obligations. Click an obligation to open it in the sidebar, where you can mark it as verified.
   2. Data view: Helps you verify extracted values. Click a value to see the full text, select View in document to locate the highlighted source text, or select Edit value to update the value.