Term Agreements
Updated over a week ago

This Agreement is used for clients that have an agreed number of Hours Purchased for a recurring period of either per day, per month or per year. A Term Agreement has an end date, and a limited number of hours that can be consumed per period.

The Term Agreement below starts on 04-07-2020 which with 20 hours of service for each month until 04-07-2021.

This Agreement should be renewed before 04-07-2021 for continuous uninterrupted service.

Technicians will be prevented from using this Agreement when logging time if it would cause the Hours Consumed to exceed the Hours Purchased for the current period.

Term Agreements should set ‘Require Time on Ticket to Close’ enabled to track the time consumed and not set Billable due to the hours having been purchased per period by the client.

Starts At - The start date of the current Agreement

Ends At - The date at which the current Agreement expires.

Hours Purchased - The number of hours purchased per week, month or year.

Hours Consumed - The number of hours that have been used in the Current Period.

Cost Per Hour - The default price per hour.

Note: If you setup a Term Agreement and specify that up to X number of hours can be consumed per Week/Month/Year, then at the start of each Period the number of available hours will reset to X.

In the screenshot above, each month the number of available hours for this Agreement will reset to 20. There is currently no rollover of hours. The date of the reset is based on the Agreement Start Date. So, if it were set to Start on the 4th of July, then the hours purchased would reset to 20 on the 4th of every subsequent month until the Agreement End Date.

Alerts for Term Agreements:

Two types of Alerts are needed for Term Agreements: An Alert for hour usage within the Current Period and an Alert for renewal based on the End Date. When an Alert is triggered it will create a sales ticket in Naverisk.

The example below shows Warning, Threat and Failure Alerts for 80%, 90% and 100% of the hour used within the Current Period. Another Alert will be generated 7 days before the Agreement's End Date.

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