The duration and terms of the contract are managed here, including any Special terms and internal Notes about the contract.
The descriptive fields entered here are used to generate the Term Sheet. The duration of the contract is the duration of the first period, plus any subsequent periods, as described in the Contract period.
The Terms applicable to the contract should be selected from a predefined list. Those are maintained in Syndication contract terms.
The contract may have an Initial term, Notice period and Renewal term. The renewal term is used to work out the critical date before which any renewal should have been processed i.e. the period end date minus the renewal term.
The Agreement term is populated with a default value that is determined by whether or not a renewal period was selected.
If this contract needs to be billed via a different customer then that can be reflected in Invoiced via. In this field select the customer that should be receiving the invoices for this contract.
The Fee review basis field is used to describe the upon upon which fees are reviewed.
The Credit field is for the credit the customer must use when republishing the content.
The Get default buttons alongside the “Agreement term (Bespoke)” and Credit fields can be pressed to reset the values in the respective field to their defaults.
Use the Special Terms field to capture all amendments and additions to the Content Sales Terms & Conditions.
The Delivery methods & formats is for a summary of how the services will be delivered and the format of delivery.
The Body of term sheet covering letter is the text of the letter that accompanies the term sheet when it is issued.
The Default button alongside the “Body of term sheet covering letter” field can be pressed to reset the default value for that field.
Once a contract is saved it will at some point, if renewable, go through the renewal process. There are a series of check-boxes which get checked to reflect which stage of the renewal process that the contract has reached. These checkboxes are also used to determine who the contract is queued for to continue the renewal processing.
Renewable? - Tick this when the contract is first setup if the contract should be renewed at the end of the first period. When the end date of the contract period is within 6 months reminder emails are sent to the users identified as Owners and the contract is queued in the Ready to renew screen for the attention of the sales team.
Ready to renew? - When the sales team are happy to proceed with the renewal of a contract listed in the Ready to renew screen they must enter Renewal notes against the contract period and check this checkbox. This will move it to the Ready to approve queue. and this will be queued in the Ready to renew screen for the Contracts manager to review and prepare the details for.
Ready to approve? - Once the contract period has been renewed in the Rights team, and all relevant details checked, this checkbox can be checked to queue the contract in the Ready to approve screen.
Ready to issue? - Once the contract details are reviewed and approved this checkbox is checked, and this triggers the system to send out a copy of the contract to the recipients listed as Contacts (the emailed PDF also includes a covering letter the body of which can be manually amended in the 'Body of term sheet covering letter' field discussed above). Issue of the contract queues it in the Contracts not received screen until the Contract return date has been entered.
Sent?- When the Term sheet has been issued then this will be automatically checked and the date recorded in Issued. A copy of the contract can be viewed in the Documents tab. SLM automatically and regularly chases the customer for the signed contract, each time updating Chased field with the date.
Under Review? - If this is checked for a contract then it will appear in the Under review screen for the Rights department to review.