This procedure allows you to create a new contract using the inputs, such as, Contract Name and a Contract ID generated by the system. The new contracts are created with Open status. The Contract ID is managed by the structure established in Admin > Project Admin > Enterprise Defaults with contracts. After a contract is created, the log entry appears on the Log tab.
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Navigate to Contracts > Contract Setup.
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Click the Actions list and select Create New Contract.
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Type the required Contract Name.
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Click the Contract Organization ellipsis and select the required contract organization. By default, the last selected contract organization appears.
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Click the Contract Type ellipsis to select the required contract type. The available contract types are listed below:
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Cost Plus ( CON )
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Fixed Price ( CON )
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Incentive Based ( CON )
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Not to Exceed ( CON )
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Time & Materials ( CON )
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Click RUN and then OK. A new contract appears on the Contract Register tab with Open status.
You can customize the view of the Contract Register panel from View Settings.