Free Subscription Agreement Review

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Have your subscription agreement reviewed by AI before wiring. Fast, expert identification of rep & warranty traps, accreditation issues, and transfer-restriction gaps.

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Key Takeaways

AI flags rep & warranty language broader than required by Reg D

Detect missing or weak most-favored-nation provisions

Identify transfer-restriction language that exceeds securities-law requirements

Free review for Reg D 506(b)/(c), Reg CF, and private-placement subscriptions

1-2 minutes*

Average Review Time

195+ compliance points analyzed*

Compliance Checks

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Document Security

* Estimates based on typical documents. Actual results vary by document type and complexity.

Justee's AI-powered subscription agreement review tool analyzes securities subscription agreements for accredited-investor status, representations and warranties, transfer restrictions, most-favored-nation rights, and indemnification obligations. The tool maps representations against actual Regulation D 506(b)/(c) accreditation requirements, flags overbroad rep and warranty language that imposes obligations exceeding statutory needs, identifies transfer restrictions broader than the Rule 144 holding period, and evaluates whether MFN provisions cover material economic terms only or sweep too widely. Justee compares the subscription against the operative private-placement memorandum and flags inconsistencies. Subscription agreements bind investors to representations that survive closing and indemnification obligations that can become significant. Common subscription-agreement issues include investor reps that effectively warrant due diligence the issuer should have done, indemnification obligations triggered by issuer disclosures, and transfer restrictions that survive the Rule 144 holding period without business justification. Professional subscription review aligns risk with investment economics.

How It Works

1

Upload Your Document

Upload your contract in PDF, DOCX, or TXT format

2

AI Analysis

Our AI reviews your document for compliance issues

3

Review Findings

Get detailed findings with risk ratings and legal citations

4

Take Action

Use our suggestions to improve your document

What We Check

Accredited-investor reps under Reg D

Indemnification scope and survival period

Transfer restrictions and Rule 144 alignment

Most-favored-nation scope (economic terms only)

PPM/operative-document consistency

Common Risks We Identify

Investor reps warrant issuer's due diligence

Indemnification triggered by issuer disclosures

Transfer restrictions exceed Rule 144

MFN excludes material economic terms

Rep survival period exceeds statute of limitations

Hypothetical Case Study by Justee

Justee recently analyzed a subscription agreement bundled with a SAFE for an angel investor wiring $250k into a Series Seed round of a New York fintech.

Issue Found: The investor representations included that the investor had "reviewed all material company information" and would indemnify the company for any "inaccuracy in such review" — a backdoor due-diligence indemnity entirely inappropriate for a Reg D 506(b) subscription. The MFN was limited to "future SAFEs" only, missing future preferred stock terms.

Justee Recommendation: We struck the diligence-indemnity language, narrowed reps to standard Reg D items (accreditation, investment intent, sophistication), and broadened MFN to include any economic term in any future financing within 12 months.

Overbroad Investor Representation

Problematic Language

"Investor represents that Investor has reviewed all material information about the Company and warrants that any decision based on such review is at Investor's sole risk; Investor shall indemnify the Company for any inaccuracy."

Recommended Language

"Investor represents that Investor (i) is an "accredited investor" within the meaning of Rule 501(a) of Regulation D; (ii) has had the opportunity to ask questions and receive answers concerning the terms of the offering; (iii) has the financial sophistication to evaluate the merits and risks of the investment. The Company makes no representation regarding the completeness of the information furnished, except as expressly set forth in this Agreement."

Why it matters: Standard Reg D reps confirm accreditation and sophistication. They do not require the investor to indemnify the company for the company's own disclosures. Diligence-indemnity language inverts the deal economics.

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"Justee is redefining the legal document compliance process across all practice areas, transforming hours of work into minutes, while reducing stress and boosting accuracy."

Artem Dolukhanyan
Artem Dolukhanyan

Partner, Corporate Transactions at Grayver Law Group

AI Review vs. Manual Review

FeatureJustee AI ReviewManual Review
Review Time2-5 minutes2-4 hours
CostFree trial available$150-500+
Legal CitationsAutomaticVaries by reviewer
Clause SuggestionsIncludedExtra fee
Availability24/7 instantBusiness hours
* Comparison data represents estimates based on industry research and internal testing for typical contract types. Review times, costs, and accuracy percentages vary by document complexity, length, jurisdiction, and specific legal requirements. See full disclaimer below.

Official Resources

SEC Reg D

SEC Regulation D exempt offerings

SEC Rule 144

SEC Rule 144 resale restrictions

SEC Accredited Investor

Accredited investor definition

Important Legal Disclaimer

Not Legal Advice: The information and analysis provided by Justee AI is for general informational purposes only and does not constitute legal advice. While we strive to provide accurate and helpful information, our AI-powered service is not a substitute for professional legal counsel.

No Attorney-Client Relationship: Use of Justee AI does not create an attorney-client relationship. Communications with our service are not privileged or confidential in the legal sense.

Consult a Professional: For specific legal matters, we strongly recommend consulting with a qualified attorney licensed in your jurisdiction. Legal requirements vary by location and circumstances, and only a licensed attorney can provide advice tailored to your specific situation.

Performance Estimates (*): All statistics, metrics, and numerical claims on this page — including review times, cost comparisons, accuracy percentages, and database size — are estimates based on internal testing, industry research, and typical use cases. Actual results vary based on document type, complexity, length, jurisdiction, and other factors. Cost comparisons reference publicly available average attorney rates and are not guaranteed savings. "1M+ laws and regulations" refers to the breadth of Justee's reference database and does not imply that every provision is checked against every law for every document.

By using our service, you acknowledge that you have read and agree to our Terms of Use and understand the limitations of AI-powered legal analysis. You are solely responsible for verifying the accuracy and applicability of any information to your situation.

Subscription Agreement Review FAQ

A person meeting SEC income, net worth, or professional-license thresholds in Rule 501(a). Justee verifies that the agreement's representations align with the operative definition.

Rule 144 generally permits resale after 6 or 12 months for restricted securities. Justee flags contractual restrictions that significantly exceed these statutory periods without business justification.

A provision giving the investor the benefit of more favorable terms granted to later investors. Justee flags MFNs that exclude material economic terms or sunset prematurely.

In private offerings, RWI is uncommon at the investor level. Justee flags any agreement that requires investor-side RWI or imposes premium-share obligations.

Yes. We have dedicated reviews for SAFEs and convertible notes, accessible via the internal links on this page.

Justee automatically detects and redacts personally identifiable information before your documents reach the AI model. Protected types include:

Personal data:
  • Names, email addresses, and phone numbers
  • Social Security numbers and tax identifiers (ITIN)
  • Physical addresses and dates of birth
  • Credit card and bank account numbers
  • Driver's license and passport numbers
  • Medical provider identifiers (NPI) and case numbers
Corporate and business data:
  • Company and organization names
  • Business addresses and geographic locations
  • SWIFT/BIC codes, IBAN numbers, and bank routing numbers
  • Business license numbers and attorney bar IDs
  • Corporate tax identifiers (EIN)
Our system achieves 100% detection of standard PII types and approximately 97% overall coverage. Certain rare identifiers — such as cryptocurrency wallet addresses and MAC addresses — may not be detected automatically. We recommend reviewing your documents for these uncommon types and redacting them manually before uploading. See our Privacy Policy and Terms of Use for details and limitations.

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Last updated: May 13, 2026

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