| # Contract Management Use Contract Management to perform contract-related tasks and to retrieve contract-related data. You can view and maintain contract information such as the contract type, the invoice type, the contract amount, and the budgeting method. Contract data set-up You can specify the information about a contract such as deliverables, billing plan, payment terms, business partners, pricing and funding, shipment, and delivery terms. A contract can be linked to one or more projects and can have multiple contract line items. Contract lines You use contract lines to specify detailed information required for a contract. Contract deliverables You can specify information about the contract deliverable. A contract deliverable is a tangible or intangible item that is produced or purchased as a result of a contract. Contract deliverables can be physical items or services such as training and installation. Backorders for Contract Deliverables: If a contract deliverable is partially delivered ered, a backorder is created for the undelivered goods. Return orders for contract deliverables: A return order for a contract deliverable can be manually entered or created from the contract deliverable line, deliverable schedule, contract shipment, or contract invoice. Contract types The contract types or billing terms contain the conditions and agreements to invoice contracts to the customer. You can define these types of contracts: Fixed Price Cost Reimbursement Time & Materials Billing cycles You can create and maintain billing cycles for the contract. Contract Funding In Infor LN, for certain types of contracts (example, aerospace and defense contracts) specific funding limits (amounts) can be defined. Based on these limits, the amount that must be invoiced to the customer is set. Contract line link to project structure Infor LN allows you to link multiple contract lines (CLINs) to a project ( element structure/ activity structure). This enables you to track direct costs, compare revenues, and also estimate indirect costs (such as project management or testing) at the CLIN level. This functionality is applicable for all contract types ( Fixed Price, Time & Materials and Cost Reimbursement. |