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Contracts

Last Updated: Oct 20, 2020

Contracts are configured in Setup / Product Catalog / Contracts / Contracts

Overview

From this screen you can create package level contracts that can be added to packages on accounts or added to package frequencies on packages in the product catalog. As many package contracts as required can be setup (monthly term, quarterly term, annual term, etc.).

If you require multiple packages to exist under a single contract then you will need to setup an account contract (configurable under the Account > Profile > Contracts tab when an account has been loaded). Account contracts have additional options which are not included with package contracts such as automatic contract renewal and the ability to apply minimum commitment fees.

Prerequisites

One or more services need to be setup in order to configure early termination transaction services on contracts.

Contracts Panel

The Contracts panel towards the left of this screen allows you to select existing contracts to view and edit on the Edit Contract panel to the right. Actions are also available in this panel which are shown as icons above the Filter text box. The available actions are described below.

Actions

Icon

Description

Deletes the selected contract if not in use

Adds a new contract

Edit Contract Panel

The information in this panel reflects the currently selected contract. From here you can change contract details (fields will display a red left border if a value is required and purple text if the field is read-only and cannot be modified).

Contract Fields and Options:

  • Name: a unique and descriptive name for the package contract, e.g. 'Annual Contract with Termination fee', etc.

  • Active: enables/disables the contract. Active contracts can be added to account-packages and package frequencies, inactive contracts cannot be added to these entities. Deactivating contracts will not impact existing package contracts that are presently setup on accounts

  • Term & Unit: specifies the contract length, e.g. 1 Year, 3 Months, etc.

Early Termination Tab

This tab displays the early termination fee charges that will apply if the package-contract is terminated before the end of the contract term. Early termination charges can be configured for all of the currencies configured under the owner, so there is no need to create multiple contracts to address charges in different currencies.

  • Transaction Service: indicates the service that the early termination charge will be associated with. Typically you would create a service (named 'contract termination fee' or similar) for the purpose of applying termination fees

  • Charge Remainder: when this option is selected the remaining amount owed for the full contract period will be applied should the contract be canceled before the contract term has been reached. For example, if a customer cancels a package under contract which has six months remaining in the contract term then a charge will be applied to their account for the amount of the remaining six months

References Tab

This tab indicates where package contracts are used in the system. The default view will provide a summary, counting up the entities that contain the contract you are currently editing (e.g. the selected contract is in use on five account packages). To get more detail into the exact entities the contract is on you can click on the Entity field and then select the desired entity type (e.g. if you select 'Account Package' then the specific account-packages that the contract has been added to will be displayed).