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The system allows automating the management of contracts at all stages of their life cycle: approval, maintenance of specifications, execution analysis, monitoring payments and payment terms under the contracts, support of archives.

Maintaining a card register of contracts and amendments thereof

• Unified card register of contracts and amendments thereof provides the following options.
• Maintaining contracts of different types; a flexible sharing of access to contract types by groups of user
• Registration of contracts, agreements
• Automatic numbering of contracts. Maintaining parallel numbering
• Fixing contracts’ parameters – status, validity period, business activity, functional area, type of contract, initiator, department and executor, type of settlements, terms of settlements, currency and cost of contract, basic currency of settlements etc.
• Supporting the archive of contracts
• Generating the text of the contracts by prepared templates
• Storing the contracts’ originals and versions thereof
• Registering the contracts’ approval and reconciliation protocols. Analysis of contracts’ handling and approval terms thereof
• Registration of additional agreements related to amendment of contractual terms. Handling amendments

Approval of contracts

The system allows automating the contracts approval procedure; the following methods and procedures shall be applied for this purpose:

• electronic approval of contracts
• remote endorsement; endorsement via mobile device
• typical and unique regulations
• generating sets of original documents to the endorsement sheets
• typical approval routes for internal and external contracts
• electronic digital signatures (EDS)

Maintaining specifications to the contracts

The main options provided by the system for maintaining the specifications to the contracts are listed below.

• Description of different types of specifications to the contracts: for supply of products, for purchase of goods and materials, for services, etc. The possibility to generate and analyze the execution of different types of specifications under one contract
• Description of specifications for consignees / consignors, delivery and payment terms
• Description of the nomenclature (products, services, goods and materials) according to the specifications; fixing the quantity, prices and deadlines. An option to set prices in any analytical currency
• Issuing documents by specifications, linking the nomenclature of documents to the nomenclature of specifications for execution analysis
• Control over the prices and amounts in the documents in compliance with the specifications; the possibility to prohibit shipping goods or picking them up on stock records at prices not approved in the contract, as well as to prohibit exceeding the amount
• Tracking changes of specifications nomenclature, amount and prices by periods of changes and validity
• Analyzing specifications execution by amount and nomenclature
• Master planning and analyzing the contracts execution by nomenclature

Analyzing the contracts execution

The following options are provided in the system in order to analyze the current situation with contracts execution:

• preparing summary analysis of contracts execution by cost for any period in the contract currency, as well as in the currency of analysis according to the type of rates selected
• description of financial sanctions (fines, penalties) and the terms of contractual liability
• preparing reconciliation acts under contracts for any period
• preparing analytic reports and summaries under contracts

Control over payments and payment terms under contracts

The system provides the following options in order to control payments under contracts, as well as the payment terms:

• generating various payment terms under the contracts (prepayment, payment after shipment within a specified number of days, partial payments, payment on schedule, payment since notified about shipment ...) with reference to payment terms to arbitrary events of the contractual process
• generating payment and receipts schedules according to the terms of payment
• control tools for payment terms

The system provides showing the payments under the contracts in the accounting mode.

The system provides automatic maintenance of turnover balance sheets for settlements by contracts and settlement currencies for each account.

The system provides receiving the progress and status reports of contractual liabilities for an arbitrary period of time.