Contract Type - C&C

Open Admin Menu, Contract Type and navigate to the C&C tab to maintain attributes that affect how the system severs the contract when collection attempts fail.

Description of Page

Select the Debt Class associated with the contract type. Any debt on a contract of this contract type will be categorized under this debt class.

Select the Write Off Debt Class Code associated with the contract type. Any debt on a contract of this contract type will be categorized under this debt class during write-off processing.

Note: Write Off Debt Class vs. Regular Debt Class. It's important to be aware that a contract type references both a regular debt class and a write-off debt class. The regular debt class controls the collection criteria applied against an account's contracts. The regular debt class is also used to segregate an account's outstanding balance on several queries in the system. The write-off debt class controls the write-off criteria applied against an account's stopped contracts. The reason the system supports two different debt classes is because you may categorize your contracts differently when you try to collect overdue debt versus when you write-off debt. Refer to The Big Picture Of Write Off Processing for more information.

Where Used

The debt class has multiple uses:

The system summarizes an account's debt by debt class on Account - Main Information and Account - Financial Balances.
Debt class is one component that controls how the system analyzes an account's overdue debt (the others are the account's collection class and currency). Refer to Different Collection Criteria For Different Customers And Different Debt for more information.
Write off debt class is one component that control how the system writes off an account's stopped contracts. Refer to Different Write-Off Criteria For Different Customers And Different Debt for more information.