Master Agreement Definition

Once the master agreement has been created, users must enter the following master lease agreement definitions. Note that the Definitions page can only be edited while the Master Agreement Status is "Define".

To define the master agreement:

  1. Open the master agreement, which automatically loads the Definitions page.
  2. Fill out the following General Information fields:
    • The ID field shows the generated ID.
    • The Created By field indicates the user that created the master agreement.
    • The Master Agreement Name may be modified, if required.
    • Enter a Master Agreement Description.
    • If known, enter the Target Value for the master agreement. For example, it can be used it indicate the line of credit, or the budget for the attached contracts.
    • Select one of the pre-defined Agreement Group values, if required.
    • If required, select the Currency. Note that every contract under the MLA will have to use the specified currency. If this field is not set, each contract can use a different currency.
    • The Legal Jurisdiction indicates the area subject to its own distinct tax regulations, such as a municipality, city, county, or country.
    • The Approver Comment field displays comments entered in the Leave Comment pop-up when the master agreement was approved.
  3. All of the fields set in the Hierarchy section of the master agreement are copied down to attached contracts, and cannot be overridden. If optional fields are not set, different values can be set for each attached contract.
    • The Lease Area represents a regional area or different legal responsibilities. It was set when the master agreement was created, and cannot be modified.
    • Select the Lease Business Unit, which represents a line of business or management responsibilities. Note that a business unit can be assigned to one or more company codes.
    • Set the Company code, which is the legal entity used for accounting purposes. The available company codes is filtered down based on the selected lease area and lease business unit.
    • If required, set the Lease Department, which can represent a group of activities. The lease department is assigned to a company code.
    • If required, set the Lease Group, which can represent a team. A lease group is assigned to a lease department.
  4. The Signature section contains the following fields:
    • Enter the name of the person that signed the lease for the company in the Signing Person field.
    • Specify the Place of Signature and Date of Signature master agreement.

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