Overview of Customer 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 new contracts.
General Feature Summary
Here are the key actions you can perform using general features:
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Manage contract types.
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Create customer contracts using either the duplicate feature, a contract template, or a wizard. You also can create contracts manually.
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Import contracts.
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Manage contracts using web services.
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Create a contract template and activate it to create contracts from it.
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Enter basic customer information. The contract type determines other details that you can enter, such as:
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Product type or project information for contract lines
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Contract terms and conditions
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Renewal notification recipient and number of days before contract end date, when it must be sent
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Contacts designated as signers
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Contract relationships, if Enable Related Documents option is set
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Layouts for printing the contract, contract terms, and contract deviations
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Validate a contract. A valid contract must have at least one contract owner and valid contract type, dates, parties, accounts, sites, and lines.
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Understand the contract lifecycle statuses from draft to final approval and acceptance, when the contract becomes active and ready to be executed.
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Amend a contract to make edits to the contract after you have started executing the active contract.
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Record sales credits for each salesperson.
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Specify details of contract risk.
Project Contracts Feature Summary
Here are the key actions you can perform using project contracts:
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Create bill plans and revenue plans and associate them to one or more contract lines.
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Select the appropriate invoice and revenue method.
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Optionally, specify whether the billing extension must calculate an event for the associated project or for the contract line, that is, all projects associated with the contract line.
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When you select a rate-based invoice or revenue method, select labor and nonlabor bill rate schedules and enter any applicable overrides or multipliers.
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Enable the hold option to prevent contract line billing transactions being included in invoice or revenue generation.
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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:
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Specify coverage lines and subscription lines for downstream integration with Oracle Configure, Price, and Quote (CPQ) Cloud.
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Automatically track included warranties of covered assets upon the sale of goods and services.
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Specify one-time, recurring, or usage charges.
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Optionally, price at the time of billing, with the option to drill down to price breakdown of each item from the total amount.
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Enter billing attributes and review the billing schedule for both one-time and recurring charges.
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Retrieve invoice details from Financial Cloud.
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Set default coverage at a global or customer-specific level.
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Track coverage entitlements on intangible or tangible goods. For example, software or hardware.
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Process service renewals based on pre-defined renewal rules.