week5/knowledge-base/contracts/Contract with Velocity Auto Solutions for Carllm.md

# Contract with Velocity Auto Solutions for Carllm

**Contract Date:** October 1, 2023  
**Contract Number:** C-12345-2023  
**Client:** Velocity Auto Solutions  
**Product:** Carllm Auto Insurance Solution  

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## Terms

1. **Duration**: This contract is effective for a period of 12 months from the contract date.  
2. **Payment Schedule**: Velocity Auto Solutions agrees to pay Insurellm the total fee associated with the selected subscription tier on a monthly basis, beginning on the contract date.  
3. **Confidentiality**: Both parties agree to keep all proprietary information confidential and not to disclose it to any third parties without written consent.  
4. **Intellectual Property**: All components of Carllm and any related technology are the property of Insurellm, and license is granted to Velocity Auto Solutions for internal use only.  

## Renewal

1. **Automatic Renewal**: This contract will automatically renew for successive 12-month periods unless either party provides written notice at least 30 days prior to the end of the initial term or any renewal term.  
2. **Rate Adjustment**: Subscription pricing may be subject to adjustment, with Insurellm providing a 60-day advance notice of any changes prior to renewal.  

## Features

1. **Included Features**:  
   - AI-Powered Risk Assessment  
   - Instant Quoting and Customizable Coverage Plans  
   - Fraud Detection Systems  
   - Customer Insights Dashboard  
   - Automated Customer Support  

2. **Feature Enhancements**: Velocity Auto Solutions will receive updates to the Carllm product as outlined in the Insurellm 2025-2026 Roadmap, including mobile integration and telematics-based pricing enhancements.

## Support

1. **Customer Support**: Velocity Auto Solutions will have access to Insurellm’s customer support team via email or chatbot, available 24/7.  
2. **Technical Maintenance**: Regular maintenance and updates to the Carllm platform will be conducted by Insurellm, with any downtime communicated in advance.  
3. **Training & Resources**: Initial training sessions will be provided for Velocity Auto Solutions’ staff to ensure effective use of the Carllm suite. Regular resources and documentation will be made available online.

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**Accepted and Agreed:**  
**For Velocity Auto Solutions**  
Signature: _____________________  
Name: John Doe  
Title: CEO  
Date: _____________________  

**For Insurellm**  
Signature: _____________________  
Name: Jane Smith  
Title: VP of Sales  
Date: _____________________