Overview
The major key terms used throughout Rootstock Sales Contract functionality and its related articles.
Terminology
Sales Contract: An agreement between two or more parties for products and services.
Contract Term: This defines the length of the Contract representing the number of months, and is used in setting the shipped devices Coverage End Date used for the possible termination of associated Recurring Charges (Recurring Services or Recurring Services Charge).Master Services Agreement: Master Services Agreements are used to define obligations and requirements of each party to a contract. If these are more-or-less standard for the similar products and services, a Master Service Agreement template can be created that can then be tailored for specific Customers. When tailored for a specific Customer, these can be saved as a Customer MSA.
TIP Sales Contracts can be configured to ensure a Master Service Agreement is required for all Sales Contracts (via a flag on the SO Control record).
NOTE In Rootstock, Customer MSA clauses can be set to be editable or not.
Contract Terms Clause: An individual clause defined as part of the overall Contract Terms.
Recurring Charges (or Recurring Services): Charges that recur at predefined intervals. For example, if cell phones are being sold, the monthly charge for the phone would be a Recurring Charge.
Recurring Billings (or Periodic Billings): The periodic billing of Recurring Charges.
Miscellaneous Charges: A non-recurring charge.
Products for Purchase: A term used in Rootstock denoting products being sold that are associated with a Sales Contract.
Device: A serialized product sold on a Contract that may drive specific Recurring Charges - e.g., selling a cell phone (device) where there is a monthly usage fee (recurring charge).
Shipped Item Warranty: The Shipped Item Warranty (SIW) record is the primary record that is used to track Warranty and Installation details of a serialised item within Rootstock. When a serialized Item is shipped, a Warranty record is created, referred to as a Shipped Item Warranty.
Covered Devices: When a serialized Item is shipped a Shipped Item Warranty record is created. Once an item is shipped against a given Contract and is under warranty, it is considered a Covered Device (covered under warranty via a Sales Contract).
Entitlement: Entitlements are Products or Services that are provided at a reduced price, or for free, because of Contract purchases of Products that carry Entitlements. An Entitlement is a Rootstock Product Master record, on which entitlement limits are defined.
NOTE An Entitlement can be configured to provide multiple Products or Services to the Customer.
SEE ALSO
Sales Contracts Overview
