How do I define the time frame conditions of a contract?
In metasfresh, time frame conditions of a contract include the term duration, term of notice, contract renewals, etc. All these conditions can be defined in the window “Contract Period”.
Define the conditions for the Contract Period
- Open “Contract Period” from the menu.
- Create a new entry.
- Give the contract period a Name.
- Select a Calendar.
- Define a Term Duration and a Term Unit, e.g., “1 Year”.
- Define a Term of Notice and a Term of Notice Unit, e.g., “1 Month”.
- Define a Subscription Interval and a Subscription Unit, e.g., “2 Weeks”.
Note: This is the frequency of the shipments of a sales order during the contract period.
- Optional: Tick the checkbox Auto renew Contract to make the contract run in a loop.
Note: In this case, the box Complete next terms automatically appears. Check this box, too.
- Optional: In the field Next Contract Terms, you can select the follow-up contract for the expired one.
Define the Transition Conditions
The transition conditions determine at what moment before the end or change of a contract the contractual party may perform a status change, such as the termination of the contract.
- Go to the record tab “Transition Conditions” at the bottom of the page and click . An overlay window opens up.
- Define a Deadline and a Deadline Unit, e.g., “1 Month”.
- Select the Action Status Change.
- Select the Contract Status Terminated.
- Click “Done” to close the overlay window and add the transition conditions to the record tab.
Complete the document
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