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titleDuration
  • Start date: The date the contract starts.
  • Lasts until: If the contract has a fixed duration, enter the contract’s end date in this field.
  • Is ongoing contract: Ongoing contracts are open-ended contracts. These may be contracts with annual renewal unless terminated within a specified deadline, or contracts with a notice period.
  • Running time: An ongoing contract may have two types of termination terms. It may be terminated at any time during the year, typically with a specified notice period. Annual renewal contracts require termination by a specific date each year to prevent them from continuing into the following year. If "Annual renewal" is selected, a field will appear for entering the cancellation deadline.
  • Counterparty's notice of termination deadline: The counterparty’s notice period.
  • Own notice period: The internal notice period if the company terminates the contract.
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titleInformation

A contract can be linked to departments, locations, projects and equipment.

If the contract includes options, enter an option code, a description and a deadline for exercising the options in their respective fields.

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