Contract

Enter the contract to which the contract option applies.

Contract line

Enter the contract line to which the contract option applies.

Valid from

Enter the date from which the contract option can be applied.

Valid up to and including

Enter the date up to and including which the contract option can be applied.

In the automated renewal process, renewal options are processed when this date has passed.

Contracting party - fine

Enter the contracting party that is required to pay a fine.

Contracting party - fee

Enter the contracting party that receives a fee.

Renewal term

Enter the period by which the contract can be extended. This field is only available for renewal options.

Not completing this field results in the contract being extended for an indefinite period of time.

Repeat renewal

To specify whether the contract option should be copied to be applied later.

If set to Yes, when processing this renewal option, Planon will create a copy of the option and will increment the priority so that the process of renewal will run continuously until it is ended by setting the value for this field to No.

To use this feature, renewal options must be based on priority and not on date.

If this field is set to No, the renewal option will only be processed once, after which its status changes to Exercised.

Priority

The automated renewal process operates based on the value you set in this field. The contract option with the highest priority (1) is processed first.

Contract options for the same contract cannot have the same priority. For more information on automatic renewal, see Renewal options.

Tentative contract end date

The date that appears in this field is based on the following calculation:

Contract end date + Renewal term = Tentative contract end date

Example:

31-12-2018 + Year = 31-12-2019

This date is a tentative date, because it may shift as a result of changing the contract end date. This date will only be calculated if the renewal option status is Active or In preparation.

Exercisable by

Specify the contracting party that can exercise the termination / purchase option (Both, Accepting party, Offering party).

Based on

Specify whether you want to execute the termination / purchase option either based on:

Term of notice - offering party

Specify the term of notice required by the offering party.

Recurrence - calendar

For automatically applying termination options based on dates, select the specific date(s) to be used.

To select multiple dates, hold down the CTRL key when clicking the various dates.

To clear multiple dates in the Calendar pop-up, click a different date, and then press CTRL and click a date again. All dates are now cleared.

Recurrence - month(s)

For automatically applying termination options based on month(s), select the specific month(s) to be used.

Recurrence - interval

For automatically applying termination options based on a period, specify the period to be applied.

For more information on automated processing of termination options, see .