An incorporated contract is a contract that cannot stand on its own as a legal document since it amends, augments, or edits the terms of another contract, such as a Master or Individual agreement, which are parent or root contracts. Examples of an incorporated, or child contract include a Schedule, Addendum, Amendment, Purchase Order, and a Statement of Work.
1. Open the Contract Profile of the root contract that needs the incorporated contract.
2. In the Contract Profile Edit screen, populate the required fields and lists:
- Agreement Type - select an agreement type that is not in bold text since these denote root agreements.
- Agreement Link - select the root contract that is the parent for the incorporated contract in the list, which includes all of the company’s contracts, as well as the contracts of companies who have a relationship with this company.
- Click the Missing Parent check box to remove the Agreement Link list if you do not know the parent contract number.
The Missing Parent check box only displays if your Administrator has activated this option.
- Term Type
- Original Exp Date (field is not required for the Perpetual term type)
- (Optional) Click to set an event alert for the original expiration date.
The required Contract Type and Legal Entity fields are automatically populated with the information from the root contract, but can be edited.
3. (Optional) Populate the remaining fields.
- Click for a field to display a Quick Tip if you need help populating the field.
- Click for a date field to display a calendar to help you select the correct date.
- (Optional) Provide the Renewal and Notice information using the following fields:
- Renewal Interval - Enter the number of months before the contract is up for renewal. For example, if a contract's effective date is 3/1/18 and it will be up for renewal on 3/1/21, enter 36 in the field, which is 3 years, expressed in months.
- Notice Period - Enter the number of days prior to the contract's current expiration date that you have to provide notice of your intent to terminate or renew the contract. The program automatically populates the Notice Date field.
4. Expand the Contract Additional Fields section, and populate any required fields.
5. (Optional) Populate the remaining fields in the Contract Additional Fields section.
6. In the Responsibilities section, assign all required responsibilities for the contract to a user:
- Click in the Name field for a responsibility, and select a user in the list that displays.
- (Optional) Populate any unpopulated fields in the user's record.
- (Optional) Customize the columns of information that display for the user(s) responsible for the contract.
- Hover over a column heading until the icon displays, and click it to open the Sort/Column menu. Click Columns to display a list of available fields, and select the fields you want displayed by clicking in the check box to the left of the field.
- (Optional) Click Add Responsibility to add a contract responsibility.
- Use the information above for a required responsibility to assign the contract responsibility, provide additional user information, and customize the display of information.
The eSignature Role field in the responsibility record is used to indicate the user's authority in signing a contract. If the field is blank, the user does not have the authority, but if Sign appears in the field, the user can sign a contract and is automatically added as a signatory when the eSignature Package Wizard is run without a template
7. Click Save.