Hunit - Smart Legal Contracts

What are Smart legal Contracts? (SLC)

Smart Legal Contracts (SLCs) are natively digital legal agreements with embedded counter-party neutral automation that executes operational tasks and enforces agreement terms.

SLCs are fully compliant with today’s regulatory and legal frameworks, making them a viable alternative to the increasingly out-of-step conventional analogue agreement. The Hunit tools are no-code, meaning an SLC can be written as an MS Word document, using just a simple plugin, so there is no change to the initial drafting process.

The legal industry’s digital future

Using blockchain and Smart Legal Contracts (SLC) creates efficiencies inside of the management of relationships between security issuers and investors. It also saves admin-hours for legal professionals, freeing up their time for advising and strategising. The DLT, combined with a suite of tools designed to address specific areas of the contract – a smart legal contract complete with sets of pre-agreed actionable remedies can be securely stored, ready to get to work as needed

Alignment

Win-wins always deliver the most value over time. The SLC is designed to align all parties while giving certainty to the future.

An SLC is a better mechanism to manage the full life cycle of an asset. By requiring all the contractual parties to surface their objectives and concerns from the beginning, it creates transparency and trust. Focus only on the risk that pays: a SLC can de-risk contract drafting and help manage it throughout the asset life cycle.

Don’t wait for problems – beat them to it

Unlike traditional contracts that just sit on shelves, wasting forests of paper and acres of office space, SLC’s don’t just sit in storerooms gathering dust. This is because when they are drafted, they aren’t static documents, they are alert. Lawyers and businesses can work together to analyse deals and identify areas that may cause issues and negotiate and agree on set remedies that get underway the moment a set issue is detected.

Hunit intelligence

Through a suite of services deeply integrated into the MS Word plugin, Hunit can work with lawyers and businesses to make sure processes are streamlined as much as possible. From built in KYC and AML technology, to a banking engine to handle transactions, and the flagship Covenant Engine™, always looking for issues and potential, Hunit brings out the best of SLC’s.  Using the pre-agreed remedies to potential issues, SLC’s draw on the intelligence of the Hunit software to ensure that contracts are always working for you.

When something goes wrong, Hunit gets straight to work

The SLC is genuinely smart – it automates contractual matters such as payments and remedies, creating a better way of working. When drafting agreements, it is simple for parties to negotiate and agree on remedies to potential problems over the contract’s life cycle.

For example, if the value of an investment declines to a point at which it doesn’t work for either party, it can be pre-planned, and importantly, pre-agreed that steps are taken to release the value of the investment. Simply put, if a piece of real estate makes unsustainable losses, it can be pre-set to start the sale process and enable an easy exit.

The human touch

Of course, in business sometimes things don’t go to plan, and this can be fine, so if both parties decide that a pre-agreed remedy does not need to take place, human intervention is simple – and the process can be stopped.

By automating as many contractual matters as possible, an SLC delivers a more stable and open investment market through automated and low friction compliance.

How Hunit is different

Hunit Market
Recognizeable path to a digital future for law Lawyers learning how to code
DLT as trusted infrastructure to record self
executing legal agreements		 DLT as record of ownership
Legal agreements that structure decisions, respond to changing environments, and recover from breaches Deterministic smart contracts
Digital agreements that interact with the real world Smart contracts that interact with what can be bought on-chain *in order to create deterministic certainty)
SaaS tools that enable every lawyer to create SLC’s Listing platform / service models
Digitise conventional structures & legal compliance Special category of asset with attributes still being determined
Native ability of secondary market Non-native transactability & fragmented exchanges

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