1. How do I use Enterprise Contracts?
  2. Overview of Contracts

Overview of Contracts

You can smoothly execute and reuse well-prepared customer contracts. When creating a contract for the first time, you can create it manually or use the Contract Wizard. To reuse a contract, simply duplicate the contract and make your edits, or save the contract as a contract template and use this template to create contracts.

General Feature Summary

Here are the key actions you can perform using general enterprise contract features:

  • Manage contract types.

  • Create customer contracts using either the duplicate feature, a contract template, or a wizard. You also can create contracts manually.

  • Import contracts.

  • Manage contracts using web services.

  • Create a contract template and activate it to create contracts from it.

  • Enter basic customer information. The contract type determines other details that you can enter, such as:

    • Product type or project information for contract lines

    • Contract terms and conditions

    • Renewal notification recipient and number of days before contract end date, when it must be sent

    • Contacts designated as signers

    • Contract relationships, if Enable Related Documents option is set

    • Layouts for printing the contract, contract terms, and contract deviations

  • Validate a contract. A valid contract must have at least one contract owner and valid contract type, dates, parties, accounts, sites, and lines.

  • Understand the contract lifecycle statuses from draft to final approval and acceptance, when the contract becomes active and ready to be executed.

  • Change a contract to make edits to the contract after you've started executing the active contract.

  • Record sales credits for each salesperson.

  • Specify details of contract risk.

Project Contracts Feature Summary

Here are the key actions you can perform using project contracts:

  • Create bill plans and revenue plans and associate them to one or more contract lines.

  • Select the appropriate invoice and revenue method.

    • Optionally, specify whether the billing extension must calculate an event for the associated project or for all projects associated with the contract line.

    • When you select a rate-based invoice or revenue method, select labor and nonlabor bill rate schedules and enter any applicable overrides or multipliers.

  • Enable the hold option to prevent contract line billing transactions being included in invoice or revenue generation.

  • Configure cross-charge options on bill plans and revenue plans for interproject and intercompany billing.

Service Contracts Feature Summary

Here are the key actions you can perform using service contracts:

  • Specify coverage lines and subscription lines for downstream integration with Oracle Configure, Price, and Quote (CPQ) Cloud.

  • Automatically track included warranties of covered assets upon the sale of goods and services.

  • Specify one-time, recurring, or usage charges.

  • Optionally, price at the time of billing, with the option to drill down to price breakdown of each item from the total amount.

  • Enter billing attributes and review the billing schedule for both one-time and recurring charges.

  • Retrieve invoice details from Financial Cloud.

  • Set default coverage at a global or customer-specific level.

  • Track coverage entitlements on intangible or tangible goods. For example, software or hardware.

  • Process service renewals based on predefined renewal rules.

Note: Service Contracts integration with Oracle Order Management and Oracle Configure, Price, and Quote (Oracle CPQ) lets customers easily change contracts at various points during contract lifecycle.

For More Information

The following links provide more information about Enterprise Contract rich features and answers such questions as: