A setup process allows you to enter contract data into the system in a clean and consistent way. This allows reporting to be precise and easy to access. This approach supports the ability to designate mandatory fields (* ) that must be entered prior to the contract being added to the system.
Here is a breakdown of how you can expect the setup to progress for a standalone contract.
Step 1 - Arrangement Type and Contract Type
Arrangement type defaults to 'Standalone Contract' for a new contract.
Specify the contract type - this is important as different contract types will require different information in the setup process.
Step 2 - Key Information
Provide the key details required based on the contract type.
The full collection of possible information is:
- Title
- Summary
- Vendor
- Contract number (generated or manual)
- Contract value
- Expenditure type
- Department
- Cost center
- Award date
- Duration
- Extensions
- Roles
If the system is setup to require approvals at the end of a contract setup then the setup will go to step 3 where approval must be sought. If no approval is required then providing the mandatory information would allow the contract record to be registered in the system.
Step 3 - Approval
Contract approval will route through the submission form in the system. If the approval module has been setup correctly then this will automatically output which approvals are required based on the contract type and value. You can read more on this in the CORE Approvals area of documentation.
Once the approval is completed the contract will be registered and the status will change to 'Active'.
Once the contract is Active, you can manage its components such as extensions, variations, risks, issues etc. You can read more about each component by viewing its respective area of documentation.