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Updating to a New Binding Period

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When to use New Binding Period

Use New Binding Period Action to change the contracted Period. With this Action, both the Binding Start and Binding End date will be 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.

NEW BINDING TERMS

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Subscription Action Information

Action can be scheduledPreview Rate AvailableBehavior CodeBusiness Classification Code
(tick)(error)AMENDBILLINGTERMSNEWBINDINGPERIODTERMS

 

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Validations & Restrictions 

ActionValidationsRestrictionsSystem Processing
New Binding Period
  • The available Binding Periods are the ones defined in the Prepaid or Normal Billing Term Scheme.
  • The Action is not allowed if another scheduled Amend Billing Terms Action exists. You will be allowed to schedule the update 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

  • A new Billing Term instance which replicates the previous one and has identical binding terms is created and activated.
  • The existing Billing Term is replaced and set to 'Inactive'.
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