You can create master contracts, revise contracts, change
the statuses of contracts, authorize sites, associate service level
agreements, and create terms and conditions.
Creating master contracts
A master contract defines the relationship with a vendor, and contains
terms and conditions that apply to associated contracts. You create a master
contract in the Master Contracts application.
Revising contracts
You can create a revised version of a contract. You can
also create multiple revisions of a contract.
Authorizing sites with contracts
You can authorize one or more sites on a contract so that
they are available for use in the authorized sites. You can add sites
from other organizations to the contract only when the applicable
sites use the same company and item sets. You can also change vendor
data when you add sites to a contract. For example, you can authorize
a local vendor branch for each site.
Associating service level agreements with contracts
A service level agreement is a written agreement between
a service provider and its customers that defines the formal commitments.
The agreement documents the service to be provided or received, the
agreed upon service levels for the service, and the means of measuring
or quantifying the level of service.
Creating terms
You can create terms and conditions that can later be associated
with a contract or purchasing record. Terms and conditions can contain
information such as: liability concerns, shipping and handling details,
and delivery time expectations.
Associating existing terms with records
You can associate terms and conditions with records to
define the rules that your company and your vendors must follow on
purchase order and contract transactions.