Dear All,
I have following queries in Contract :
A. Can we add multiple payment terms and validity perios in contracts. We have a contract with Vendor for long time in which he delivered
various Services and materials.
There are diff. payment terms for that vendor as below
1. 10% Adv. Against Service PO
3. 50% payment after complition of 50% work i.e. services
4. Remaining payment of Services after finishing of Services.
4. 100% payment against PO for the materials (whenever we issue PO for example, out of 100 materials, if we issue 40 materials PO today
then we will make 100% payment for 40 materials.)
B. If there is a change in service i.e. say more services are added or may service charges needs to modify. We need to issue revised contract to vendor.
Which process is advisable for better tracking of document flow and controls. e.g. If I create single contract then System will control that user can
not prepare PR/PO for more Qty or Value.
Thanks and Regards,
Nirav