About contract types

Contract types have several purposes - for example, they are used to categorize a contract (types are required when adding contracts). Also, if a contract is to be interfaced into the Purchase Order application as a vendor agreement, the contract type shows the type of vendor agreement that is to be created.

The types of vendor agreements that can be created are:

• Contract

• Blanket

• Standing

• Catalog/Quote

• Service

If you do not select a vendor agreement type, the contract associated with the contract type will not be interfaced into the Purchase Order application. For information on vendor agreements, see About vendor agreements and types.

Contract subtypes let you further define a contract type. If you define both a contract type and contract subtype for the same contract, the vendor agreement assigned to the contract subtype is used to process the contract. (Note that contract subtypes are optional.)