Special Payment Terms

Special payment terms that might be applicable to the contract, based on the company's performance or on the customers' actions are not captured on the Billing Allocation and Revenue Allocation pages. Special terms are categorized as early out options or as bonuses and penalties.

Early Out Options

Early out options define when a customer can terminate a contract without incurring a penalty, and the penalty schedule for terminating a contract after the early out options expire.

The information that you capture for early out options on the Special Payment Terms page is informational only; no processing is keyed from this information.

Bonus and Penalty Options

Bonus and penalty options define the conditions for bonuses and penalties. For example, the terms of a contract might entitle you to a bonus of 10,000.00 USD if you meet certain milestones within three months of the contract date, and might specify a penalty of 15,000.00 USD if you fail to meet the milestones at five months after the contract date.

The information that you capture for bonuses and penalties on the Special Payment Terms page is informational only; no processing is keyed from this information.