Contract Renewal
Service contract describes the terms and conditions between the service provider and the customer. Service contracts can be renewed to provide extended services and thereby, additional stream of revenue to the service organization.
Contract Renewal: Renewals option allow you to extend the contract period beyond its
current duration. You can renew a service contract for any time duration and copy
the cost and coverage terms. When you renew a contract, you can also add more
configuration lines, change the cost amount and sales amount of the configuration
lines, change the cost and the sales amount of the coverage terms and so
on.
Note: You can set the Type field
to Renewal with Indexation in the Contract Changes
(tsctm3120m000) session, only if the following check boxes are
selected in the Service Contracts (tsctm3100m000)
session:
- Contract Renewal
- Price Indexation