Contract management

Contract Management Module

1. When do we go for a Parent and Child Contract?
2. What happens to the associated Child Contract when the Parent Contract Expires?
3. Can a reminder notification be sent to a Vendor or a Contractor who is not part of the organization?
4. What is the difference between License Agreement and Contract?
5. What happens when a Contract is Renewed?
6. What happens when two contracts, one expired and one active are to be configured with Parent and Child relationship?

1. When do we go for a Parent and Child Contract?

   When organization purchases a contract from Dell for all the Laptops, along with it there come another contract for accessories, then the primary contract will be for Dell and the Child Contract will be for accessories.
   When the Parent Contract expires, the Child Contract will also get Expired. Child Contract?s expiry date cannot be over the Parent Contract Expiry Date.
   
   
   

2. What happens to the associated Child Contract when the Parent Contract Expires?

   When the Parent contract expires, all the Child contract will get expired.
   
   

3. Can a reminder notification be sent to a Vendor or a Contractor who is not part of the organization?

   The notification part of a Contract involves Technicians, also multiple email addresses can be provided which can be either a Requesters email address or any user who are not a part of the application.
   
   
   

4. What is the difference between License Agreement and Contract?

   All software licenses based contracts will be tracked as Software License Agreement.
   Any contract which are not Software Licenses will be tracked as Contract.
   
   
   

5. What happens when a Contract is Renewed?

   Renewing a contract that has expired. This can be tracked separately under the Renewal Tab of a Contract.
   So when a Parent is renewed, it only updates the Parent and can be tracked under the Renewal Details, the same has to be done separately for Child Contract as well.
   The contract that was renewed will be showing as a reference under the Renewal Details and cannot be used for any purpose, also the same will not be shown in the Contract list view.
   
   
   

6. What happens when two contracts, one expired and one active are to be configured with Parent and Child relationship?

   An Expired contract cannot become a Parent Contract, only Active Contracts can be a Parent.
   However an Expired Contract can be associated as Child Contract to an Active Contract.
   
   

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