Contract Events

Once the contract has been activated, you can create a contract-level event to change fields with no financial impact on the Definition page, and accounting and/or operational partners.

Note that to update the partner contact information in an active contract, you do not need to create a contract event. You can simply click to add a contact, or click to delete a contact.

To enter a contract-level event:

Open the required contract.
Click Event in the contract header.
Enter an Event Name in the Create Event pop-up and click Submit.
To change accounting partners (e.g., lessors), or to change operational partners:
- Click to change the associated partner, as of a certain Replacement Date. Note that existing partners can only be replaced, not deleted.
  Note: Partners can only be replaced in lessee contracts.
- Click to add a new partner, as of a certain Effective Date.
- Click to edit the effective dates of a partner, or to revert a partner replacement. Note that reverting a partner replacement does not delete the partner.
  Note: Partner changes are not automatically reflected in the terms and conditions. You must create a lease component event to add a new term with the correct partners and dates, and then create an activation group event to exercise the new term.
- Click to delete a partner added in this contract event.
Click Delta to review all the changes.
Click Send to Approval.
The approver has the option to:
- Approve the draft by clicking Approve and reviewing the changes in the Event Modifications Summary pop-up.
- Send the draft back for changes by clicking Rework.

See also: