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Find out about Updating to a New Binding Period; |
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Table of Contents
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When to use New Binding Period
When a subscriber wishes Use New Binding Period Action to change the agreement made then the action New Binding Period Terms should be used. With this action both contracted Period. With this Action, both the Binding Start and the Binding End date will be updated / renewed.
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 and a description of its system process.
View 'Using Subscription Action Modal' available in Managing Subscriptions for more information on executing the action.
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Subscription Action Information
Action can be scheduled | Preview Rate Available | Behavior Code | AMENDBILLINGTERMSBusiness Classification Code | |
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AMENDBILLINGTERMS | NEWBINDINGPERIODTERMS |
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Validations &
ValidationsRestrictions
Click on the Subscription number to go to the Data Entry page of the subscriptionAction | Validations | RestrictionsAdditional | InformationSystem Processing | |
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New Binding Period |
| The action is available only if the subscription has
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Executing New Binding Period
Action Type and Sub Action type are visible only if applicable
If you leave empty then the Logged in user will be set
Performed Date: Click on the calendar icon and select date and time
SCHEDULING INFORMATION
Action will be validated as provided in the section above and submitted if validations are passed
Once the action is submitted the following changes will be carried out by the system:
A new billing termClassification: New Binding Period
- Binding Period: Select Binding Period from the drop down list (this is filtered based on the selected scheme)
- Binding Start: Click on the Calendar icon and select the date for which the contract should start
- Binding End: The date that the contract will expire. This will be automatically calculated based on the Binding Period and Binding Start
Agreement Date: Click on the Calendar icon and select the date, that the contract will be updated
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
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