Author: Writer

The legal and legally compliant contracts that we need in the business world today are not only expensive but also time-consuming. There is AI contract generators, the revolutionary technology that enables people and companies to build contracts on time, accurately, and at an affordable price. In this article, we’ll talk about the top AI contract generators and share with you their pros, cons, and costs to help you make a good decision.

What Is an AI Contract Generator?

A contract-making AI contract generator is an artificial intelligence-powered computer program that generates contracts automatically. These tools are designed based on AI models and templates pre-selected by you to build legal contracts based on your input.

Advantages of AI Contract Generators

• Time-Saving: Draft contracts in minutes.
• Cost-Effective: Avoid expensive legal fees.
• Correctness: Reduce errors with AI validation.
• Modification: Create contracts tailored to your use case.
• User-Friendly: Intuitive interfaces for non-experts.

The Best AI Contract Generators of 2024

1. DocuSign CLM

Website: www.docusign.com/products/clm

DocuSign CLM (Contract Lifecycle Management) is one of the most used contract management tools. It automates contract design, negotiation, and execution with AI-powered automation.

Features:

• Pre-built templates for various industries.
• Clause discovery and risk analysis by artificial intelligence.
• Connections with Salesforce and Microsoft 365.

Pros:

• Highly customizable.
• Safe and legal.
• Excellent customer support.

Cons:

• Expensive for small businesses.
• Needs some technical knowledge to configure.

Pricing:
Starts at $35/user/month (Standard plan) and up to $60/user/month for Premium features.

2. PandaDoc

Website: www.pandadoc.com

PandaDoc is a general-purpose document management system that excels at contract generation. It has easy collaboration capabilities and AI features.

Features:

• Smart contract templates.
• Real-time collaboration and eSignatures.
• AI-driven suggestions for contract improvements.

Pros:

• Intuitive and beginner-friendly interface.
• Affordable for startups.
• Robust analytics for tracking contracts.

Cons:

• Limited advanced legal options.
• Integration challenges with niche software.

Pricing:
Starter plan free for unlimited data. Paid plans start at $19/user/month.

3. Juro

Website: www.juro.com

Juro is a contract management tool designed for legal and business teams. Its AI feature simplifies contract drafting and administrative workflows.

Features:

• AI-assisted contract drafting.
• End-to-end workflow automation.
• Clause library for rapid reuse.

Pros:

• Tailored for legal professionals.
• Intuitive search and analytics tools.
• Excellent collaborative features.

Cons:

• Expensive for small businesses.
• Not as many integration possibilities as the competition.

Pricing:
Custom pricing based on requirements. Free trial available.

4. LegalZoom

Website: www.legalzoom.com

LegalZoom is a popular legal service offering AI-powered contract building. It is ideal for startups and entrepreneurs.

Features:

• Step-by-step contract creation.
• AI suggestions for legal terms.
• Extensive library of legal templates.

Pros:

• Simple to use for non-lawyers.
• Affordable for small-scale users.
• Trusted brand in legal services.

Cons:

• Limited customization.
• Support delays reported by some users.

Pricing:
Starts at $29.95/month for business. Pay-per-document options also available.

5. Rocket Lawyer

Website: www.rocketlawyer.com

Rocket Lawyer combines legal guidance and AI-based contract creation. It’s a contract builder, signing, and storage platform all in one.

Features:

• AI-driven contract templates.
• Online legal consultations.
• Cloud-based document storage.

Pros:

• Affordable monthly subscription.
• Access to legal professionals.
• Mobile-friendly design.

Cons:

• Limited advanced automation features.
• Add-ons can increase costs.

Pricing:
$39.99/month with unlimited document creation.

6. Avokaado

Website: www.avokaado.io

Avokaado is an AI contract management tool designed for legal professionals. It offers powerful contract writing and lifecycle automation.

Features:

• AI-powered contract templates.
• Document workflow automation.
• Centralized contract repository.

Pros:

• Customizable templates.
• Excellent for large organizations.
• GDPR compliance.

Cons:

• Steep learning curve.
• Limited free features.

Pricing:
Starts at €20/user/month. Free trial available.

7. Contractbook

Website: www.contractbook.com

Contractbook provides a new way to manage contracts. Its AI capabilities allow you to create, sign, and store contracts with ease.

Features:

• AI contract drafting and review.
• Collaboration tools for teams.
• Secure cloud storage.

Pros:

• Sleek and modern interface.
• Compatible with CRMs such as HubSpot.
• Affordable for small businesses.

Cons:

• Limited offline access.
• Some users find it less customizable.

Pricing:
Free plan available. Team-only plans start at $115/month.

8. FormSwift

Website: www.formswift.com

FormSwift is a fast and lightweight contract and legal documents generator. With its AI features, it is ideal for startups and freelancers.

Features:

• Easy-to-use contract builder.
• Customizable templates.
• Simple export options.

Pros:

• Very affordable.
• Fast document creation.
• Ideal for freelancers.

Cons:

• Lacks advanced features.
• Limited customer support.

Pricing:
Starts at $8.99/month.

9. Agiloft Contract Management Suite

Website: www.agiloft.com

Agiloft is an AI-enabled enterprise contract management and lifecycle management platform.

Features:

• AI-driven contract templates and approvals.
• Advanced reporting and analytics.
• Seamless integrations with enterprise tools.

Pros:

• Powerful customization.
• Excellent for large organizations.
• Comprehensive feature set.

Cons:

• High cost.
• Requires training to use effectively.

Pricing:
Custom pricing. Free trial available.

10. Oneflow

Website: www.oneflow.com

Oneflow is an AI-based contract management platform with interactive contract generation and execution.

Features:

• AI-assisted contract drafting.
• Real-time contract editing.
• Collaboration tools for multiple parties.

Pros:

• Excellent user experience.
• Affordable for SMEs.
• Advanced analytics for contract performance.

Cons:

• Limited integration options.
• Some users report occasional bugs.

Pricing:
Starts at €25/user/month. Free trial available.

Free vs. Paid AI Contract Generators

Free tools such as FormSwift or PandaDoc’s free plan are perfect for startups or independent contractors, while paid tools like DocuSign CLM and Juro cater to legal teams and corporations. Decide based on the size of your business, budget, and needs.

How to Choose the Right AI Contract Generator

• What You’re Looking For: Decide if you need simple templates or advanced automation.
• Verify Integration: Ensure the tool is compatible with your current software.
• Compare Cost: Compare plans and free trials.
• Read Reviews: Check for user testimonials about safety and support.
• Scalability: Choose a tool that will scale as your company grows.

Conclusion

AI contract generators have changed the way businesses deal with contracts by offering efficiency, accuracy, and affordability. Whether you are a small business owner, freelancer, or an attorney, there’s an AI-based solution for you.

Get started using these resources and power your contract writing with intelligent AI!