Electronic Contract Drafting Based on Risk and Trust Assessment

Contracts play an important role in the every day life of many individuals. Contracts are often negotiated and drafted in an unstructured manner. In this paper we propose a more structured model driven approach to contracting. In particular, we focus on developing a risk and trust model for the transaction that is subsequently used to negotiate the contract. We show how rules can be applied to the risk and trust model of the contract in order to advice the contracting parties how the contract could be amended, e.g. by introducing control mechanisms, to make it more appropriate to their respective risk and trust assessments.