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About Siebel Advanced Contracts

Contract administrators, account managers, and customer service representatives can use Siebel Advanced Contracts. Agreement data is stored in agreement records that they can create, revise, examine, and print.

Siebel Advanced Contracts includes the following important features:

• Benefits
• Conditions
• Compliance History
• Terms
• Benefit, Condition, and Term Templates

An agreement is a document that defines the business relationship between 2 parties. It provides information about obligations to offer, provide, or produce specific products or services over a set period of time for a specific amount of compensation. An entitlement is coverage available to the customer under the terms and conditions of the agreement, and a benefit is a service or product available to the customer under the terms and conditions of the agreement. Benefits are associated with conditions. A condition denotes criteria that determine whether the customer is entitled to the benefit that the agreement defines.

Advanced Contracts are associated with compliance history. Compliance history is the detailing of adherence to the terms and conditions of the agreement. Advanced Contracts can include terms. A term is language not already included in the agreement.

Common types of agreements are a service agreement and sales agreement. A service agreement is a contract for service. For example, a customer purchases a product from an equipment manufacturer. The manufacturer might negotiate a service agreement with the customer providing a special discounted rate for service over a predetermined period of time. A sales agreement is a contract that includes special pricing and other benefits when a customer purchases products. For example, a supply company negotiates a sales agreement with a customer that includes rebates for volume purchases.