This setting in the Application Options, coordinates the Contract Owner of a Contract record when new records are created. The settings are:
By Contract Type - With 'By Contract Type' selected, a contract record's "Contract Owner" property will default to the contract creator based on the toggle in field settings for Contract Owner in the Type Manager for each unique contract type. With Auto Populate With Current User OFF (see screen shot below), the Contract Owner will be the default set for the field setting. When ON, the current user creating the record is the Contract Owner.
All Contract Types - With 'All Contract Types' selected, a contract record's "Contract Owner" property will default to the contract creator for all new contracts.
