Friday, December 21, 2012

Oracle Service Contracts - Part-III (Status Transition / Lifecycle)

  • Entered – It’s the initial status when a contract is authored, it can also refer this as Draft where we are just putting details on a contract.
  • Cancelled – A contract can be cancelled if it’s not needed to work on. We can only cancel a contract when its status is Entered.
  • Signed – Once a contract is approved and submitter signs the contract its status becomes ‘Signed’. In real scenario its very rare that we see the status for a contract because it move to active as soon as its signed. If the start date of the contract is future dated, then it will be in Signed status and will move to Active once start date equal to system date.
  • Active – Upon approval and signing a contract is moved to Active if start date of the contract is back dated or equals to system date.
  • QA Hold – Once a contract is in Signed/Active status and if it needed some change we open the contract for update. Once we open the contract for update it will move to QA Hold status. After making the required changes perform QA check that will move it back to Signed/Active.
  • Expired – Once contract end date passes the system date it will move to Expired status.
  • Terminated – A contract will move to Terminated status if we terminate the contract in between its active period. Upon termination it may or may not generate credit memo that is based on the contract terms. If the contract is in QA Hold it cannot be terminated. Also once a contract / line / sub-line is terminated we cannot revert it back, so precaution needs to be taken before termination.

Contd.. How to Create a Service Contract

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