Associated lease and rental contracts

You can use an approved master contract to create associated lease or rental contracts for the same vendor. The master contract contains vendor information and defines terms and conditions for transactions with the vendor. The associated contract contains the identifier of the master contract and the current revision number, if applicable.

When you create an associated lease or rental contract from a master contract, the master contract's vendor information, service level agreements, and certain properties are copied to the associated lease or rental contract. In addition, the start date is copied from the master contract, which you can change to any date that is after the start date, but before the end date of the master contract.

You create the associated labor rate contract in the Master Contracts application. You view and change the associated contract in the Lease/Rental Contracts application.