Glossary
Obligation
A commitment extracted from a contract — payment milestones, renewal dates, deliverable dates, notice periods — with associated deadlines.
Obligation
An obligation is a commitment extracted from a contract — something that must be done by or to a specific date. Papyrus's contract intelligence pipeline extracts obligations automatically.
Common obligation types:
- Payment milestones: “Pay KES 500,000 by 30 June 2026”
- Renewal dates: “Renews automatically unless notice given 60 days before 31 December 2026”
- Deliverable dates: “Deliver Project Plan by 15 May 2026”
- Notice periods: “Notice of termination must be given 30 days in advance”
- Compliance dates: “ISO 9001 audit by 30 September 2026”
Each obligation has: a description, a due date, an owner (who's responsible), a counterparty (who's owed it), a status. Reminders fire at 30, 14, and 7 days before the due date.
The Obligations calendar is the most-watched view in Legal departments using Papyrus.