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Renew Binding Period

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What does this section cover?

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 can be used. This action will restart the contract from the date of execution and update binding end date accordingly.

Renew Binding Period Information

Action can be scheduled(tick)
Behavior CodeAMENDBILLINGTERMS
Business Classification CodeRENEWEDBINDINGPERIODTERMS

 

Restrictions & Validations

ActionValidationsRestrictionsAdditional Information
Renew Binding Period
  • The rules defined in the related billing term scheme are not violated
    • Concurrent usage based pricing 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 specified price plan is within the allowed price plans
    • The effective subscription services are within the supported services
  • The 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 one of the following Life Cycle States:
    • Draft
    • Effective
    • Not Effective
    • In Resting

 

 

Executing Renew Binding Period

  1. Navigate to BILLING APPLICATION > BILLING > SUBSCRIPTIONS > MANAGE SUBSCRIPTIONS
  2. Search for the Subscription you are looking for, using the criteria section
  3. Click on the Subscription number to go to the Data Entry page of the subscription
  4. On the left hand side of the screen you can see the ACTION PANEL
  5. Click on Subscription Related Actions to expand 
  6. Find the action you would like to execute and click on the link to open the action details in a modal window
    NEW BINDING TERMS 

  7. Classification: Renew Binding Period

  8. You have the option to make the following changes
    1. Binding Period: Read Only: the Binding Period of the contract
    2. Binding Start: Read Only: the renewal date of the contract
    3. Binding End: Read Only: the new expiration date of the contract

    4. Agreement Date: Click on the Calendar icon and select the date, that the contract change has been agreed
      No matter what the Agreement Date is, the Binding start will be set to the date of the execution. Agreement date only defines the date that the contract was signed. 

      RENEW BINDING PERIOD

  9. If required check the following sections for information 

    1. EXISTING BILLING TERMS

      1. Provides an overview of the existing billing terms

    2. UNSETTLED BILLS

      1. Provides an overview of any Bills related to the subscription and have not yet been settled

  10. SUBSCRIPTION ACTION DETAILS

    1. Action Type: Select action type from the drop down if you have configured custom actions in the system, using the specific behaviour code
    2. Sub 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 applicable
    3. Performed By User : Search and add the user that logs the action 
      If you leave empty then the Logged in user will be set

    4. Performed Date: Click on the calendar icon and select date and time

    5. SCHEDULING INFORMATION

      1. NOW: Select Now to execute the action immediately
      2. ON A SPECIFIC DATE
        1. Click on the calendar icon and select a date
        2. Use the time scroller and select time or leave as is to set at midnight

        3. Click on DONE
          The date field is mandatory and the date must be greater than the current date

      3. AFTER A NO. OF DAYS

        1. Enter the value of days based on your business requirements. For example, add 7 days 
          The number field is mandatory and the specified value must be an integer and greater than 0.

  11. Click on "SUBMIT"
    Action will be validated as provided in the section above and submitted if validations are passed

System Processing

Once the action is submitted the following changes will be carried out by the system:

  • A new billing term instance which replicates the previous one having the binding term renewed is created
    • The binding start date is set to the date of execution and the binding end date equal to the binding start date plus the binding period
  • The existing billing term is replaced and set to inactive
  • The new billing term is set to active

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