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Find out about Use Renew Binding Period ; |
What does this section cover?to renew an expired contract |
When to use Renew Binding Period
Contracts are made for a specified period of time. Once the contract is expired, i.e. Binding End Date is in the past then the contract can be renewed. To do so, the action Renew Binding Period Terms can be used. This action will restart the contract from the date of execution.Use the Renew Binding Period Classification to renew an expired contract by setting the Binding End Date to the new date on which the contract should expire.
View the Information Table below for information related to the Scheduling, Preview Rating and Classification of the Subscription Action. Check the Validations & Restrictions Table for a list of available Actions, including each Action's related validations, restrictions, additional information and a description of its system process.
View 'Using the Subscription Action Modal' available in Managing Subscriptions for more information on executing the Action.
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Renew Binding Period Information| Action can be scheduled | 
Preview Rate Available | Behavior Code | AMENDBILLINGTERMS | Business Classification Code |
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|  | AMENDBILLINGTERMS | RENEWEDBINDINGPERIODTERMS |
Restrictions & Validations
You have the option to make the following changesBinding Period: Read Only: the Binding Period of the contract| Action | Validations | Restrictions | Additional Information | System Processing |
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| Renew Binding Period | | | specified billing term frequency is within the allowed billing frequenciesThe specified binding period is within the allowed binding periodsThe specified price plan is within the allowed price plansThe effective subscription services are within the supported servicesThe rules defined in the active billing term definitions are not violated
- Billing term amendment rules are not violated
- The specified billing term frequency is within the allowed billing frequencies
- The specified binding period is within the allowed binding periods
- The action is available only if the subscription has Action is not allowed if another scheduled Amend Billing Terms Action exists. You will be allowed to schedule the renewing of the Binding Period only after the scheduled Action.
- The Action is available only if the Subscription is in one of the following Life Cycle States:
- Draft
- Effective
- Not Effective
- In Resting
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Executing Renew Binding Period
Navigate to BILLING APPLICATION > BILLING > SUBSCRIPTIONS > MANAGE SUBSCRIPTIONSSearch for the Subscription you are looking for, using the criteria sectionClick on the Subscription number to go to the Data Entry page of the subscriptionOn the left hand side of the screen you can see the ACTION PANELClick on Subscription Related Actions to expand Find the action you would like to execute and click on the link to open the action details in a modal window
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Binding Start: Read Only: the renewal date of the contractBinding End: Read Only: the new expiration date of the contract Click on the Calendar icon and select the date, that the contract change has been agreedNo matter what the Agreement Date is- Regardless of the Agreement Date, the Binding
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- Start will be set to the date of the execution. The Agreement
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- Date only defines the date
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- on which the contract was signed.
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If required check the following sections for information EXISTING BILLING TERMS
Provides an overview of the existing billing terms
UNSETTLED BILLS
- Provides an overview of any Bills related to the subscription and have not yet been settled
SUBSCRIPTION ACTION DETAILS
Action Type: Select action type from the drop down if you have configured custom actions in the system, using the specific behaviour codeSub Action Type: Select action type from the drop down if you have configured custom actions in the system, using the specific business classification code
Action Type and Sub Action type are visible only if applicablePerformed By User :Search and add the user that logs the action If you leave empty then the Logged in user will be set| Include Page |
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Scheduling Subscription action - Global | Scheduling Subscription action - Global | Click on "SUBMIT"
Action will be validated as provided in the section above and submitted if validations are passed| Anchor |
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processing | processing | System ProcessingOnce the action is submitted the following changes will be carried out by the system:
A new billing term instance Performed Date: Click on the calendar icon and select date and time
- A new Billing Term instance which replicates the previous one
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- and has identical binding terms is created and activated.
- The
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- Binding Start date is set to the date of execution and the
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- Binding End date is set equal to the
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- Binding Start date plus the
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- Binding Period.
- The existing Billing Term is replaced and set to 'Inactive'.
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