Applying Contract Discount Terms

To enter the discount percentage and establish terms.

  1. Access the Edit Contract dialogue box from the Subcontract List page or the Contract Maintenance page.
    1. From the Subcontract List page, select the Action icon and select Edit Settings.
    2. From the Contract Maintenance page, select Edit Settings button.
  2. Select the Rate Type.
    • Fixed Rate—Discount terms are locked when the contract is accepted by a Subcontractor with this rate type.
    • Variable Rate—Main Contractors can change the discount terms on contracts with this rate type.

      Note: A Variable Rate is often used with Contractor-Controlled Insurance Programs (CCIP).

  3. Select the Terms.
    • Enter the discount rate (%).
    • Enter the number of days prior to the trigger date the subcontractor must bill to receive a discount.
    • Choose the trigger date (the event that triggers the discount)
      • Invoice Date
      • Beginning of Next Month.

      For example: 5/10 net 30 would be entered as a Cash discount of 5% applies if paid within 10 days from Invoice Date.

      Note: Discount rates and terms are editable until the contract is confirmed by the Subcontractor.

  4. Select the Save button.

    Subcontractors accept the discount terms when they confirm their contracts on the system.

    • Once Subcontractors confirm their contracts, the discount terms will be locked.
    • Discounted contracts do not affect usage fees paid by the Subcontractor.