Vendor Contracts |
The Contracts screen enables you to display, insert, and record information about vendor contracts. This information includes purchasing limits, contract dates, and contract amounts. You can also set notification parameters to identify contracts that are close to the purchasing limit.
Vendor contracts are like blanket purchase orders (BPOs) that your company has with an outside vendor. They show that you have allocated a specific amount of money to be used during a specific amount of time with a vendor. They can be used on a purchase order for any type of charge (e.g., stock part, non-stock part, commercial, fee, or shipping).
Tip: When you delete a vendor ID on the Basic Info tab of the Data -> Setup -> Organization Structure -> Vendors -> Primary Information screen, all contracts associated with that vendor contract ID are deleted.
To learn more about each tab's functions and fields, click the applicable hyperlink.
Identifying information about vendor contracts.
Create and associate vendor contract line items with vendor contracts.
Comments about vendor contracts.
Notes about vendor contracts.
Process adjustments of all parts unit prices under a vendor contract.
Terms and conditions of the vendor contract; access to electronic files (e.g., digital pictures, text documents, scanned forms) associated with the contract.
Files associated with the vendor contracts.
Assign attributes, such as specific terms, to vendor contracts.