Contract types

Contract types are used to categorize a contract. Types are required when adding contracts.

These types of vendor contracts can be created:

Contract
Blanket
Standing
Catalog/Quote
Service

Optionally, use contract subtypes to further define a contract type. If you define both a contract type and contract subtype for the same contract, the vendor contract assigned to the contract subtype is used to process the contract.

Note: Before you define a contract type, a contract group must already exist in Contract Management. See Creating contract groups.