User Guide

Contract

• A contract cannot be deleted unless its status is set to DRAFT.

Contract Type

• Contract Type has been selected it sets the Contract’s Transaction Recurrence to the Contract Type’s Transaction Recurrence.
• Contract Type has been selected it sets the Contract’s Days Prior to the Contract Type’s Days Prior.

Contract Date

• When the Contract Date has been set and the Effective Date has not, the Effective Date will be set to the Contract Date.
• When the Effective Date has been set but the Next Transaction has not, the Next Transaction Date will be set to the Effective Date.

Next Review Date

• The Next Review Date will appear only when the contract’s status is either NEEDS REVIEW or ACTIVE.
• If Next Review Date is prior to the current date, the system automatically sets the status to NEEDS REVIEW and sends a notification to all administrator roles.

Effective Date

• When the Effective Date and Term (Months) are set and no value has been provided for the Expiration Date, the Expiration Date will be set to the day before the sum of the Effective Date and the Term (Months). For example, if the Effective Date is 01/23/2016 and the contract’s Term is two months, the Expiration Date will be 03/22/2016.
• If the Expiration Date and the Effective Date have been set, and the Expiration Date is further in the future than the Effective Date, the Transaction Recurrence will set to repeat monthly on the Effective Date, until the Expiration Date. Take into account that this happens only if the contract status is either DRAFT or unspecified. For example, if the Effective Date is 04/13/2016 and the Expiration Date is 05/23/2016, the Transaction Recurrence would repeat every 13th of the month.
• If the Next Transaction Date is not specified, it will be automatically set to the Effective Date.
• If the Contract is New, in Draft status, or currently does not have a Next Transaction Date set when the Effective Date changes, the Next Transaction Date will be set to the new Effective Date.

Term (Months)

• When the Effective Date and Term (Months) are specified, but the Expiration Date is not, the system will automatically set the Expiration Date to one day before the addition of the Effective Date and the Term (Months). For example, if the Effective Date is 02/15/2016 and the Term is three months, the Expiration Date will be 05/14/2016.
• If the Expiration Date and the Effective Date are set such that the Expiration Date is further in the future than the Effective Date, the Transaction Recurrence will repeat on the Effective Date of each month until the Expiration Date. Take into account that this happens only if the contract status is either DRAFT or unspecified. For example, if the Effective Date is 04/13/2016 and the Expiration Date is 05/23/2016, the Transaction Recurrence will repeat every 13th of the month.

Expiration Date

• If the Expiration Date and the Effective Date are set so that the Expiration Date is further in the future than the Effective Date, the Transaction Recurrence will be automatically set to repeat on the Effective Date until the Expiration Date. Take into account that this happens only if the contract status is either DRAFT or unspecified. For example, if the Effective Date is 04/13/2016 and the Expiration Date is 05/23/2016, the Transaction Recurrence will repeat every 13th of the month.

Next Review Date

• If a Contract Event is specified without setting a Contract Event Review Date, and the Next Review Date has not been previously assigned, the Next Review Date will be automatically set to the Contract Event Review Date. Additionally, if the Contract Event Review Date is earlier than the Next Review Date specified, the Contract Event Review Date will override the Next Review Date.
• If the contract status is ACTIVE or NEEDS REVIEW and the Expiration Date is further in the future than the Effective Date, the Next Review Date will be automatically set as specified in the first rule: If a Contract Event is specified without setting a Contract Event Review Date, and you have not previously assigned the Next Review Date, the Next Review Date will be automatically set to the Contract Event Review Date. Additionally, if the Contract Event Review Date is earlier than the Next Review Date specified, the Contract Event Review Date will override the Next Review Date.
• If the Next Review Date is earlier than the current date the contracts status is changed to NEEDS REVIEW.
• When the first rule calculates a value that does not exist and the contract is set to ACTIVE status and clears the Next Review Date. First rule: Once the Contract Event is set, the Contract Event Review Date is not set, and you have not assigned the Next Review Date before, the Next Review Date will be set to the Contract Event Review Date. If the Contract Event Review Date is earlier, it will override the Next Review Date.

Inactive Date

• The Inactive Date is only visible when the contract status is INACTIVE.