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What are the different ways to create contracts?

The simplest way to create a contract is by creating one as a standalone document. To do this:

  1. Click on “Transactions” from the toolbar on the left, and select “Contracts”
  2. Click “Create Contract” at the top right of the contracts panel
  1. Complete step 1 of contract creation by specifying the type of contract, as well as the items (goods and/or services) to be included in the contract
  2. Complete step 2 of the contract creation process by selecting the involved supplier, optionally setting an expiration date for the agreement, and finally click the “Create Contract” button at the bottom right

Contracts can also be created after concluding a sourcing event. To create a contract this way:

  1. Click on “Transactions” from the toolbar on the left, and select “Requests”
  2. Click “Create Request” at the top right of the requests panel
  3. Select the “Ends In Contract” option to initiate the request creation process

When the sourcing event concludes, one or more new contracts can be created using the terms that were negotiated with the supplier(s).