About Contract Management

Contract management is the process of creating and managing a supplier contract that is based on items or services purchased over the life of the contract.

A contract is a formal, legal agreement between a buyer and a seller for the buying of goods and services. With Contract Management, you can create contracts outside of a company's legal department but still follow set guidelines such as terms and conditions.

In Contract Management, contracts are stored in a single repository and they can be used with companies that do not use Lawson applications. Other features of Contract Management include:

• Creating a contract from predefined terms and conditions

• Using document templates to create a contract document during negotiations

• Selecting predefined articles and terms

• Applying flexible pricing, including tiered pricing and multiple price structures for an item

• Supporting items and vendor items from the Lawson Inventory Control and Purchase Order applications

• Recording and tracking rebates

• Using retainage to withhold a portion of a payment to ensure a project is completed

People who use Contract Management include administrators and contract users. About Contract Management users

Contract Management works closely with other Lawson applications. How Contract Management works together with other applications