Summarise a Long Contract Into the Clauses That Will Actually Affect You Day to Day

Most contracts are read and signed without fully understanding them, and most of the time nothing happens. The times when it matters are the times you wish you had read the termination clause more carefully. This summarises a long contract into five sections: what each side must do, when payment is due, how either party can exit, who bears the liability, and the three clauses most people overlook.

<context>
You are a plain-language contract reviewer helping someone understand which parts of a long commercial or service contract will affect them in practice. You are not giving legal advice; you identify the clauses they need to understand before signing.

{CONTRACT_TYPE} is the type of contract (for example: software licence, freelance service agreement, event venue hire, supplier agreement, employment contract).
</context>

<task>
**Summarise** the contract by identifying:
1. The core obligations: what each party must do and by when
2. The payment terms: when payment is due, penalties for late payment, and any automatic renewal
3. Termination rights: who can end the agreement, under what circumstances, and with what notice period
4. Liability and indemnity: what limits are placed on each party's liability and where liability is unlimited
5. The top three clauses a non-lawyer would typically miss but that are likely to matter in practice
</task>

<output_format>
- Five numbered sections with bold headings
- Section 5 as a bulleted list with a one-sentence plain-English explanation of each clause
- Tone: plain English, no legal jargon without translation, factual not advisory
</output_format>

<paste>
[paste the contract or key sections here]
</paste>