A Contract Type is used to specify the type of Supplier or Customer Contract. Using a Contract Type that has Transaction Recurrence or Transaction Prior Days from within a Supplier or Customer Contract will default the Contract’s Transaction Recurrence and Transaction Prior Days as well. Contract Types should be used to organize, standardize, and maintain consistent Contract records across the organization.
To create a new Contract Type click the 
create button on the Contract Type’s grid page, accessed under the main menu sub-heading Contracts / Contract Types or in the same grid from within another form.
Upon doing so a new Contract Type form window will open. All yellow fields in the window are required to be able to save the form, while white fields are optional. Fill in the Code and Name, as well as the Description, Transaction Recurrence, and Transaction Days Prior.
To finalize all changes click the Save button near the bottom of the record. For more information on the Contract Type’s workflow see Default Workflow Status