1. Using Customer Contracts
  2. Best Practices for Creating a Contract

Best Practices for Creating a Contract

You can create a contract by duplicating an existing contract or by creating an entirely new one either with or without the Contract Wizard. You can also create a contract from a contract template or using Import Management or web services. This topic outlines when you should use each method.

Duplicating an Existing Contract

To create a contract that is similar to an existing contract, select the Duplicate action either from within an existing contract or from the contract search page. When you duplicate an existing contract, you can select what to copy to the new contract.

Creating a Contract Using the Contract Wizard

Select the Create Contract in Wizard task in the Contracts work area to use a quick and simple method for creating a contract without lines and without party information. You can later edit this to add additional details. With the Contract Wizard:

  • You are guided through a set of steps to create contracts

  • You are not required to run Contract Expert separately

  • You are not required to preview any clauses that Contract Expert automatically inserts into the contract terms

Creating a Contract Without the Contract Wizard

Select the Create Contract task in the Contract work area to create complex contracts. Using this task you can:

  • Add and edit parties and party contacts.

  • Add and edit contract lines.

  • Edit the contract terms.

  • Export the contract terms for editing in Microsoft Word.

  • Add notes and view contract history.

  • Run Contract Expert, when required.

  • Preview any clauses recommended by Contract Expert before they are inserted.

  • Create and manage contract fulfillment lines in buy-intent or supplier contracts.

  • View and enter contract risk management and projects billing information for sell-intent or customer contracts.

  • Create contracts of contract types with no contract terms.

Creating a Contract from a Contract Template

Select the Manage Contract Template task in the Contract work area and search for an active contract template. You can then open the template in edit mode or select the template in the search results area and click on the Create Contract from Template action menu item to create a contract quickly.

Using this method, you can create a contract for the default system date, or choose any other date as the start date of the contract. You can also choose to retain party and line information from the template, if available. If you enabled the contract type for terms, then the template inserts the latest terms from the Contract Terms Library. You can also create a contract for a different party, or one with retaining lines, billing information, associated projects and tasks, and notes. These contracts will be in Draft status.

Creating a Contract Using Web Services

You can use Web services to create many contracts in one go in an integrated application such as partner management or projects.

Use the ContractService endpoint URL and select the createContract operation and the required source, if HTML or XML. To create a contract in integrated applications, select and enter the following required parameters to be included in the message:

  • Contract header information

  • Party information,

  • Amounts and currency

  • Contract lines

  • Bill and revenue plans

  • Labor and non-labor rates and rate overrides

  • Labor multipliers

  • Job title and assignment details

Related Topics