Edit Contract Options

When in Type Manager and Contracts is selected from the Object Type drop-down menu, at the top of the page is the Edit Contract Options button, as seen below.

On the Edit Contract Options page, a list of end user Contract Version activities are listed plus the capability of adding new activities. The activities are listed in a table with the headers: Name, Action, and Order. You can use the Order column UP or DOWN arrows to re-order their appearance as listed in the Options feature on the Contract Record page.

NOTE: The Standard Options are not customizable and are controlled by the user's Organization Role Function Access.

The Standard Contract Version Options include:

Amendment = Create New Version; An Amendment is utilized when the original contract information needs to be adjusted (i.e., amended). In the system, an Amendment creates a new version of a contract record.

Manual = Create New Version; Like an Amendment, Manual creates a new version of the contract record for the purposes of preserving a version of the record but are not adding a formal amendment.

Renewal = Create New Version; In the system, a Renewal retains the original contract record information, but creates a new version of the Contract Record with the same ID for the next period of time. The contract record header identifies it as a Renewal.

Addendum = Create Child Record; An Addendum is another document is added to an existing Contract Record in Contract Logix. In the system, an Addendum creates a new, child contract record linked to the original master by the Master Contract Field. More specifically, the Addendum option copies the original record, opens the new record under a new contract ID, and automatically links the addendum record (via the Master Contract field) back to the original record.

Termination = System; A contract that is Terminated is typically one that is intentionally concluded. Terminating a contract locks the record to prevent further editing, changes the status to Terminated, and populates the Termination Date field.

Lock = System; A locked contract record prevents further editing.

Unlock = System; Use this function to unlock a locked record to continue to editing the record.

Cancel = System; Cancelling applies to Amendments (version), and once canceled, the record banner reads: Version Canceled, the page is grayed out, the record Status is changed to Canceled and the version is listed in Contract Version History with the row crossed out.

Assignable = System; Assignments are a unique Object where the purpose of the record is to recognize the transfer of Contract Assets, usually from one organization/company or owner to another. These "assets" can be physical or non-physical in nature, and the record in the system will always have a Contract association. This option permits an Assignment Contract record to be Assignable.

Not Assignable = System; This option prohibits the Assignment Contract record from being Assigned.

Duplicate Record = System; This option creates a duplicate Contract Record with a new contract ID number. NOTE: Field values, Custom Objects, and Contacts are carried over from the original record, but Tasks, Alerts, and Documents are not.

Duplicate ALL = System; This option creates a duplicate contract record with a new contract ID. The option also provides options for the documents to be copied along with the record data. The duplicate record, under a new Contract ID, is displayed. Field values, custom objects, and mini-grid values (e.g., Contacts) are carried over from the original record. NOTE: Contract versions, Tasks, and Audit information is not carried over.

To create a new contract Option, scroll to the bottom of the list and click the button. Add the name of the new Option, then use the drop-down menu next to the name to choose the appropriate action: Create New Version OR Create Child Version. Finally, select at the top of the page.