Questions
Before you start
What is free, when you need a plan, what to upload, and how your documents and sources are handled.
What exactly is free?
The example case is open to everyone without an account. A free account keeps News, follows and alerts. Running a private analysis on your own documents needs a Mastermind Pro or Desk subscription.
When would I need a paid plan?
When you want to run a private analysis on your own documents. Pro is for one analyst: 25 new cases a month and 50 re-runs. Desk is for up to five people sharing a casebook: 100 new cases a month and unlimited re-runs. See pricing.
What documents should I start with?
The CDS confirmation and any elections, the terms of the instrument you are checking (indenture, terms and conditions or facility agreement), and the notice or proposal that prompted the question. Amendments, schedules and consent letters help where the terms refer to them. If you cannot use confidential material, start with the example case.
What happens when information is missing?
The result says so. A check that depends on a missing document is marked as needing more information, the missing item is listed under open questions, and nothing is assumed in its place. You can add the document to the same case later and re-run it; the new revision shows what changed.
Can I inspect the sources?
Yes. Every check links to the passage it relies on, shown as written. How the check reads that passage is labelled separately as interpretation.
How is this different from a general AI chat?
The work is structured around the CDS review itself: each instrument is checked against the conditions one by one, every check links to its source passage, gaps and contradictions are listed as open questions, and adding a document produces a new revision you can compare with the last. The output is a record a colleague can inspect, not a conversation to re-read.
How are my documents handled?
Your documents are private to your account, or to your Desk if you share one. They are used only to produce your analysis, never enter the public benchmark and are never used to train models. You can delete a case, with its documents and results, at any time. The data-handling page covers processing, providers, access and deletion in full.
Does this replace an official determination or legal advice?
No. CDSBench is decision support for reviewing documents. It does not decide whether a Credit Event has occurred, does not replace a Determinations Committee decision, and is not legal advice. Review conclusions with counsel where it matters.