Contract Type

Contract type is an important classification object which specifies attributes of contract items specific for a particular type of contracts.

A contract type object can be seen as a set of settings applied to contract items with the corresponding contract type association. For example:

• rental and leasing contract items contain an attribute 'Contract Item End Date' because their contract type attribute Expiration Date = ‘true’

  while

• purchase contract items do not contain the 'Contract Item End Date' attribute because for this contract type Expiration Date = ‘false’.

  

Attribute 'Indicate Possession' is of special importance as its value helps to distinguish between contract types used for the acquisition of actual material goods and those used for contracting of non-material services. See the 'Possession Indication' topic for more information.