Workplace contract new record form

  • Release version: Washingtondc
  • Updated February 1, 2024
  • 2 minutes to read

    • As lease administrator and manager you can use the workplace contract new record form to create new lease contracts.

    Table 1. Workplace contract new record form
    Field Description
    Contract model Model the contract is assigned to, which should be Lease.
    Vendor Landlord responsible for the contract.
    Contract Number Unique number identifying the contract record.
    Name Name for the contract.
    Start date Date on which the contract takes effect.
    End date Date on which the contract expires.
    Lease type Type of lease. The available values are Gross Lease, Modified Gross Lease, Net Lease, Double Net Lease, and Triple Net Lease
    Leed certification score Leadership in Energy and Environmental Design (LEED) level. The available values are Certified, Silver, Gold, and Platinum.
    See duration (months) Notice period to be given to the lessor in case the contract is not extended.
    Lease terms (months) The contract term in months.
    State Current state of the contract. The field values are Draft, Active, Expired, or Canceled.
    Substate Current substate of the contract. The field values are Awaiting Review, Under Review, Approved, or Rejected.
    Contract Administrator Person responsible for managing the contract and interacting with the vendor.
    Approver User who approves or rejects the contract.
    Business Owner The user who requested a workplace contract.
    Description Brief description of the contract.
    Financial section
    Payment schedule Schedule that defines when to make payments, for example, Monthly or Annually.
    Payment amount Amount that has been paid on the contract to date.
    Total cost Final cost of the contract after adjustments have been applied.
    Yearly cost Yearly cost of the contract.
    Vendor account Vendor account associated with the contract.
    PO number Purchase order number assigned to the contract.
    Cost center Cost center that is financially responsible for the asset.
    Security deposit The returnable sum paid to the lessor to cover for possible loss or damage.
    Has rate card Option to indicate whether the contract has an associated rate card.
    Renewal/Extension section
    Automatically renew/extend Indicates whether the contract can be renewed or extended at the end of its term.
    Options Duration of the contract renewal or extension, for example, 1 year.
    Renewal start date Date on which the contract renewal or extension takes effect.
    Renewal end date Date on which the contract renewal or extension ends.
    Cost adjustment type Type of cost adjustment applied to the contract. The available values are Fixed, Manual, or CPI (consumer price index).
    Cost adjustment amount

    Numerical increase or decrease in price of contract. A negative number indicates a decrease in price.

    You can specify a value for either Cost adjustment or Cost adjustment percentage but not both.
    Cost adjustment percentage

    Percentage increase or decrease in price of contract. A negative percentage indicates a decrease in price.

    You can specify a value for either Cost adjustment or Cost adjustment percentage but not both.
    For detailed information on how to create workplace contract, see Create workplace contracts in Core UI