Question

A financial services firm is negotiating a contract with a SaaS provider for a core analytics platform. During legal review, the risk officer wants to ensure the firm can retrieve all its data in a usable, non-proprietary format and migrate to another provider if the relationship ends. Which contractual provision most directly addresses this concern?

Accepted Answer

A data portability and exit (termination assistance) clause specifying export formats and provider transition obligations

Answer

A right-to-audit clause allowing annual on-site inspections of the provider's data centers

Answer

An SLA credit schedule tied to platform availability and response-time thresholds

Answer

A limitation-of-liability clause capping damages in the event of a data breach