Boilerplate
Definition of 'Boilerplate'The standardization of a legal document's structure and language. This leads to quicker and more efficient practices in terms of the filling out and processing of documents.Most often used in contracts, prospectuses and indentures. |
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Investopedia explains 'Boilerplate'An example would be a bank having a standard contract for everyone who applies for a home loan.Boilerplates are rarely changed and, due to their standard nature, parties involved in the agreement aren't usually misled. |
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