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Create Terms Type and Terms Codes

Think of Terms Type Codes and Terms Code like Asset Category and Sub Category.  Term Type codes are a way of categorizing the terms of a contract. A contract often consists of several categories, including service level terms, labor terms, material terms, and payment terms.

Because Terms Type codes and Terms codes are interconnected, we'll cover how to create and edit both of those types of codes together.

Contract Terms Type Codes

To create a contract terms type code, follow these steps:

  1. In the Setup menu, click Contracts > Codes

  2. Make sure the Segment drop-down menu shows the correct segment

  3. In the Code List, select Terms Type Codes

  4. Click New Code

  5. In the Code field, enter the first missing code. For example: General

  6. In the Description field, enter a description for the missing code. For example: General Terms

  7. By default, the options to show the code are checked but to hide the code in New and Edit, uncheck Show in New/Edit

  8. To hide the code in Query, uncheck Show in Query

  9. Click Save to add the new code

To edit an existing code, select the Edit button (the pencil icon) next to the code.

To delete an existing code, select the Delete button (the red X) next to the code.

Contract Terms Codes

After you define the Terms Type Codes, you define the Terms Codes. Terms Codes are very specific parameters of a contract. Think of Terms Codes as short answers you might have about a contract.  

There are eight Data Types for Terms Codes.  The following are sample answers of each.

  • Boolean - Does the contract provide for replacement equipment?  This answer is either yes or no

  • Currency - What is the hourly rate for emergency response?  For example: $175.00

  • Date - What is the end of grace period renewal? For example: 06/30/2015

  • Email - What is the email address of the primary contact?  For example: [email protected]

  • Number - What is the number of units covered?  For example: 45.

  • Percent - What is the maximum percent markup on new parts?  For example: 15 percent.

  • String - For example: You could include the procedures for contacting a representative after normal business hours.

  • Time - What is the end time of standard daily support?  For example: 5:00 PM EST.

Examples of Terms codes and descriptions:

    • General Terms - Automatic renewal without notice

    • General Terms - Web-based access to all records

    • Labor Terms - Labor hourly rate for emergency service

    • Labor Terms - Labor included in monthly fee

    • Materials Terms - Materials billable

    • Payment Terms - Payment - Net 30 days

    • Service Level Terms - 8:00 AM-5:00 PM M-F only

    • Service Level Terms - Emergency service available

    • Travel Expense Terms - Travel billable for emergency service

Create Terms Codes

To create terms codes, follow these steps:

  1. In the Setup menu, click Contracts > Codes

  2. Make sure the Segment drop-down menu shows the correct segment

  3. In the Code List, select Terms Type Codes

  4. Click New Code

  5. In the Terms Type drop-down menu, select the terms type

    For example: General Terms

  6. In the Code field, enter a code - this can be any combination of letters or numbers

    For example, GT1

  7. In the Description field, enter a description for the missing code.

    For example: Automatic renewal without notice

  8. By default, the options to show the code are checked but to hide the code in New and Edit, uncheck Show in New/Edit

  9. To hide the code in Query, uncheck Show in Query

  10. Click Save to add the new code.

To edit an existing code, select the Edit button (the pencil icon) next to the code.

To delete an existing code, select the Delete button (the red X) next to the code.