Using Special Payment Terms

Page Used for Using Special Payment Terms

Page Name	Definition Name	Navigation	Usage
Special Payment Terms	CA_TERMS_PNL	select Customer Contracts, then select Create and Amend, then select Special Payment Terms	Set up special payment terms by adding optional payment term details, such as bonus or penalty amounts and early out options, to the contract.

Setting Up Special Payment Terms

Use the Special Payment Terms page (CA_TERMS_PNL) to set up special payment terms by adding optional payment term details, such as bonus or penalty amounts and early out options, to the contract.

Navigation

select Customer Contracts, then select Create and Amend, then select Special Payment Terms

Image: Special Payment Terms page

This example illustrates the fields and controls on the Special Payment Terms page. You can find definitions for the fields and controls later on this page.

Amendment

Displays the current amendment number and date of the amendment if this contract is amended through amendment processing.

Early Out Options

Early out options specify the clauses under which a customer can terminate a contract before its completion. You can enter multiple early out options for each contract. For example, you might include a clause that gives customers a 30-day acceptance period in which they can terminate the contract for any reason, and also include a clause that runs for the lifetime of the contract in which customers can terminate the contract in case of bankruptcy.

Early Out Code

Select an early out code from the list of early out options that you define on the Define Early Out Options page.

Reason

If you select an early out code, the reason that you define for that code on the Define Early Out Options page appears.

Early Out Status

Select Active or Inactive.

Notification Days

Specify the number of days before the end date to flag an early out option that is near expiration.

Select values for the Start Date and End Date fields to designate the time frame in which a customer may exercise the early out option. If the system date does not fall within the specified start and end dates, the specified early out option code does not apply.

Penalty Type

Select Amount or Percent.

Penalty Percent

If you selected a penalty type of Percent, you must enter a penalty percent. The system penalty is then calculated based on the total contract-negotiated value. If you selected a penalty type of Amount, this field is unavailable for entry.

Penalty Amount

If you selected a penalty type of Amount, you must enter a penalty amount. The penalty is the amount that you specify here. If you select a penalty type of Percent, this field is unavailable for entry.

Early Out Option Notes

Click to create an internal note about the early out options.

Bonus and Penalty Options

Incentive ID

Enter the ID for this bonus or penalty.

Approved

Select if the incentive is approved.

Date of Approval

Enter the date that this incentive is approved.

Incentive Status

Select Active or Inactive.

Incentive Type

Select an incentive type. Values are:

Bonus: Incentive rewards the customer with a credit amount.

Penalty: Incentive punishes the customer with a fee.

Bonus Penalty Notes

Click to create an internal note about the bonus or penalty.

Computation Basis

Amount

Enter an amount if the incentive is a fixed amount.

Percentage

Enter a percentage if the incentive is for a percentage of the contract gross amount.

Amending Special Payment Terms

After you save a contract to a contract status that is mapped to an Active processing status, any changes or updates that you make to the contract's special payment terms must be made as part of an amendment. Use the amendment processing functionality to amend special payment terms.