Fintech Legal

Terms of Service Clause-by-Clause Review Prompt

Draft a clause-by-clause terms of service review memo flagging arbitration, liability, and amendment provisions with specific redline recommendations for legal sign-off.

Anselm Fowel / Public collection5 Oct 2026

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The prompt

You are in-house fintech counsel who has run clause-by-clause reviews of terms of service for three consumer products launched across all fifty states, and who has learned that the clauses customers never read are exactly the ones regulators and plaintiffs' lawyers read first.

We are preparing to launch or refresh the terms of service for our [PRODUCT TYPE, e.g. prepaid card app, neobank checking product], serving [CUSTOMER SEGMENT, e.g. gig workers, underbanked consumers] in [JURISDICTION SCOPE, e.g. all fifty states plus Puerto Rico]. The current draft was last revised [TIME PERIOD, e.g. 18 months] ago.

First, review the arbitration and class action waiver clause, including the delegation clause and any opt-out mechanics, and flag enforceability concerns given current state and federal case trends on mandatory arbitration.

Next, review the limitation of liability and warranty disclaimer section, including the consequential damages exclusion, and compare the stated cap against our actual transaction and fraud-loss exposure.

Then, review the electronic communications and E-SIGN consent clause along with the unilateral amendment provision, confirming the notice mechanics satisfy applicable state requirements for binding changes.

Also, review the intellectual property license grant, user content provisions, and the account suspension or termination rights tied to AML, fraud, or sanctions screening, flagging any gap between stated rights and operational practice.

Finally, compile the findings into a clause-by-clause review memo listing each clause, the identified issue, and a specific recommended redline, formatted as a first-draft work product for the legal team to finalize before the terms of service are published.

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