Bonterms Cloud Terms Explainer
If you’re reading this it likely means someone has just proposed using the Bonterms Cloud Terms for your transaction. You’re either a provider of SaaS/Cloud services or a potential customer. Either way, we appreciate the opportunity to explain why the Bonterms Cloud Terms might be the perfect starting point for your deal.
The Bonterms Cloud Terms are a Standard Agreement implemented by a Cover Page:
The Bonterms Cloud Terms are a Standard Agreement that the parties implement and modify through a Cover Page, not redlines. The Cloud Terms were drafted to meet the core needs of both the provider and customer, but the parties may modify the terms as needed to reflect their particular transaction through the Cover Page (step-by-step guidance here).
We describe our Standard Agreements as best-practice, balanced and open source:
Best-practice? The Cloud Terms were drafted and extensively reviewed and revised by our now 90-member Standard Agreements Committee of in-house and law firm lawyers. They took the task seriously. The Cloud Terms went through six major drafts, three sub-committees (Data, Risk and General Terms) and multiple meetings, surveys and discussions across seven months.
Balanced? The terms are designed to meet the needs of both parties and not inherently favor either.
Open source? The Cloud Terms are free to use under CC BY 4.0.
What are the benefits of using the Bonterms Cloud Terms?
You skip the battle over whose form to use, preserve goodwill and move straight to negotiating the issues you really care about through the Cover Page.
We’re here to help.
We stamp every Bonterms Standard Agreement “review once, use many”. We hope you will in fact review and use the Bonterms Cloud Terms. Either way, we’d love to hear from you and answer any questions you may have at email@example.com.