Extend Binding Period

Owned by Persia Xenopoulou (Deactivated)
Last updated: Nov 30, 2016
2 min read

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When to use Extend Binding Period

Subscribers may choose to extend their current contract when it is about to expire. To do so, the Extend Binding Period Action should be used, which extends the contract by updating the Binding End date of the customer, for a period of time defined by the user.

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 Subscription Action Modal' available in Managing Subscriptions for more information on executing the action.

EXTEND BINDING PERIODS

Subscription Action Information

Action can be scheduledPreview Rate AvailableBehaviour CodeBusiness Classification Code
(tick)(error)AMENDBILLINGTERMSEXTENDEDBINDINGPERIODTERMS

 

Restrictions & Validations

ActionValidationsRestrictionsAdditional InformationSystem Processing
Extend Binding Period
  • The Action is not allowed if another scheduled Amend Billing Terms Action exists. The user is allowed to schedule the binding extension 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

  • Extend By: As only the Binding can be extended, only positive values can be used.
  • Binding End: Set to the date on which the contract will expire (Read-only). It will be automatically calculated based on the current Binding End and the Extend By value.
  • A new Billing Term instance which replicates the previous one is created and activated.
    • The Binding End date is extended by a number of days while the Binding Start date remains the same.
  • Existing Billing Term is replaced and set to 'Inactive.'

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