Maximo Basic- Contract Module

 Contract Module

3. Contract Module.

 I. Master contract:-  Master contract  is a contract where you define your standard term and condition for the vendor.

II. Terms and Conditions:- This application use to create a library for terms and Conditions that used by the organization.

Note:- Terms and Conditions can be associated with PR,RFQ,PO and Invoice application.

III. Purchase contracts:-  This is a agreed contract between organization and vendor for providing either material or services, or both for a defined period of time.

There are 3 types of contract:-

       a. Blanket.
       b. Purchase.
       c. Price.

IV. Lease/Rental contracts:- This contract is useful for the organization if do not want to buy asset. The use of this contract is at the end of lease contract either organization can buy the asset or return it. For rental contract, organization can terminate the contract and return the asset.

Note:- This contract refers to rotating tools and items.

V. Labor rate contracts:- This contract is useful if organization is maintaining external labor record in Maximo system and tracking there's working hour. This contract define the hourly rate of external labor based on the skill set.

VI. Warranty contracts:- This contract define the contract between organization and third party service provider who are responsible to maintain organization assets or location for period of contact.

** Please let me know in comment section if anyone need more information regarding contract application.**