Shrink-wrap agreement

{
  "id": "MLC-T-INS-003736",
  "term": "Shrink-wrap agreement",
  "field": "Insurance and risk management",
  "definition": "A standardized contract with terms and conditions that are not negotiated but are deemed accepted by the end-user upon performing a specified action, such as opening the product packaging or using the service. These agreements present a form of contract risk, as the user is bound by provisions they have not reviewed or bargained for, which can include limitations of liability, disclaimers of warranty, and specific jurisdictional clauses. From a risk management perspective, reliance on these agreements for business operations requires careful assessment of the enforceability and potential liabilities contained within the unread terms.",
  "url": "https://mlchart.com/terminology/insurance/shrink-wrap-agreement/"
}