Applying Contract Discount Terms
Discount terms cannot be added to an existing, accepted contract.
To apply discount terms to a new contract:
- Access the Edit Contract dialog box from the Subcontract List page or the Contract Maintenance page.
- From the Subcontract List page, select the Action icon and select Edit Settings.
- From the Contract Maintenance page, select Edit Settings button.
- Select the rate type.
- Fixed Rate: Discount terms are locked when the contract is accepted by a Subcontractor with this rate type.
- Variable Rate: General Contractors can change the discount terms on contracts with this rate type.
A Variable Rate is often used with Contractor-Controlled Insurance Programs (CCIP).
- Select the terms of the discount.
- 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).
Note: Discount rates and terms are editable until the contract is confirmed by the Subcontractor.
- 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.
Last Published Wednesday, July 10, 2024