Obligations are the underlying provisions in the relevant source document. Obligations can vary substantially, from event triggered provisions to reporting requirements, but are always linked directly to the legal language of the relevant fund document.
Create new obligations
New obligations can be created for documents stored in the Insight Fund Documents dashboard.
- To create a new obligation, select a document from the list, then select Add Obligation in the top-right corner.
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Highlight the reference text in the source document on the right side, then select the Abstract button.
Repeat the step above to create as many document references as needed for a particular obligation.
Use the Clear Selection button to restart highlighting.
💡 If you are having trouble highlighting, hold down the option key on your Mac or the alt key on your PC while highlighting.
For the best results, start at one of the farthest corners of a block of text
The abstraction process will automatically generate a summary of the selected text, which appears in the Obligation Details section on the left.
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Specify the Obligation Details such as Name, Description, Owner, and Categories in the Obligation Details section on the left.
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Add additional document reference text to an obligation by highlighting additional text and using the Add or Append button in the Document References section. Add creates a separate, non-continuous reference text item, while Append will combine the highlighted reference text with the existing reference text into a single reference text item. |
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If appropriate, select Add in the Obligation Group section to associate this obligation with a grouping of other obligations.
Use the Recommended Existing tab to select an obligation group that the Ontra application recognizes as containing similar provision(s).
Use the Search Existing tab to manually search for an already-created obligation group to which you can add this obligation.
Use the Create New tab to create a brand new obligation group to which this obligation will be added
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To associate a task with the obligation, select Add Task in the Tasks section.
- To create a new task to associate with this obligation, use the Create New tab, fill in the required (*) fields, and select Add at the bottom of the pane.
All frequencies are based on calendar days, not business days. However, if you select a due date on a calendar day that does not exist in all months, future due dates will default to stay within the most recent month, quarter, half-year, or year end.
For example, if you select Monthly as the frequency and Jan 31, 2023 as the first due date, the platform will create recurring obligations on:
- Feb 28, 2023
- Mar 31, 2023
- Apr 30, 2023
- May 31, 2023
- Jun 30, 2023
- ...and so on
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To associate this obligation with an already-created task, use the Add to Existing tab, search for the task, select the desired task, and select Add at the bottom of the pane
6. Complete creating the obligation by selecting Save at the bottom left of the Create Obligation screen.
AI-Generated Obligations
When uploading a document into the app, the system will parse the document for relevant information and generate obligations for the document that you will be able to approve.
| ℹ️ | For more information about uploading fund documents, please reference Upload fund documents. |
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Upload the document via the Upload Documents tab in the funds dashboard.
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Wait for the Obligations column to indicate that the system has finished processing the document.
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To see the obligations the AI generated, navigate to the fund documents page.
You will see 0 of # approved under the obligations column
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Select the document to view the obligations the AI created.
The AI will automatically assign an obligation name, description, highlight the reference text, apply categories, and create tasks associated for the obligation.
Approve, Edit, or Delete the obligation information as appropriate.