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Managed Contracts

Tue, 2011-01-18 14:43 — achatterjee

Overview

A Contract is planned with detailed activities / tasks, milestones and resources.  A clearly and unambiguously structured Contract detail definition ensures successful planning, monitoring, and control.  The purpose of this functionality is to ensure that Government acquisitions are executed efficiently, on time, and within budget.

General information surrounding the Managed Contract is necessary to effectively carry out all contract management processes.Contracts often require a number of Attachment files to be included.  

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Contract Management ► Managed Contracts

Managed Contracts screen fields and Tabs

Fields

Description

Code

Unique alphanumeric Identifier for the Contract, (i) Manujally entered by the user, or (ii) System auto-generated using a Customized Algorithm, depending on the value of the Generate Managed Contract ID parameter (see details in System Parameters > Contract Management in the Admin Module).

Workflow Status

The default value is 'In Preparation'. This is workflow related and can have these possible values: ‘Approval Requested', 'Approved', 'Closed', 'In Execution' and 'Cancelled'.

Reference Number

Refers to an internal number of the Contract used by the user.

Contract Source

User must be able to select 'Original' or 'Amendment' from the Drop Down List.Original' by default

Issue Date

System Date automatically issued at the beginning of Contract registry.

Start Date

Date in which the Contract begins to be valid.

End Date

 Last date that the Contract is valid.

Contract Currency

Currency which will be used for all the Contract amounts and transactions.  It should be the Original Currency of the Contract or the Domestic Currency of the client.

Contract

Reference from/to the Base Contract.

Contract Type

The Contract Type associated to a Contract.  For example: Consulting Services, Goods and Services, Small Works, etc.

Payment Base

Reference to the Payment Base of the Contract such as Lump Sum, Time Base, etc.

Vendor

Reference to the contracted Vendor.

Institution

 The Institution Unit that contracts the Vendor.

Contract Manager

 Employee in charge of the communications related to the Contract.  This Employee must belong to the Institution.

Inspection Manager

 Employee in charge of performing Physical Inspections.  This Employee must belong to the Institution.

Document

Reference to the Procurement Document to which this Contract is associated.

Original Currency

Original Currency of the Contract.  Default value is the Domestic Currency of the client.

Institution Signing Date

Date when the Institution signs the Contract.

Vendor Signing Date

Date when the Vendor signs the Contract.

Total Amount

Total amount of the Contract.

Taxes Amount

Total amount of Contract Taxes.

Other Charges Amount

Total amount related with Other Charges of the Contract.

Net Total Amount

This attribute is calculated automatically by the System with the following formula: Contract Total Amount – Taxes Amount – Other Charges Amount.

Original Total Amount

Total amount of the Contract in its original currency.

Physical Current Progress

Current Physical Progress of the Contract which is updated depending on Line Items Physical Progresses.

Payment Current Progress

 Current Payment Progress of the Contract which is updated depending on Line Items Payment Progresses.

Language

Language Used.

Abbreviation

Provide the short form of the Contract.

Description

Short Description of the Contract.

Reason For Cancelling

The user must explain the reasons behind the cancelling of a Contract.  It is mandatory when the contract reaches the Cancelled status.

Reason For EarlyClosure

The user must explain th reasons behind an early closure of the Contract.

Initial Execution Fiscal YearFilter criteria to filter the report by Initial Execution Fiscal Year.