IBM TRIRIGA Version 10.5.0

Managing contracts with vendors

When an agreement is reached between your organization and the vendor, you must record the agreement in a contract. A contract can be awarded as a result of the bidding process or can be created separately.

Contracts
A contract creates a legal obligation between your organization and the vendor. A contract specifies details of the agreement, such as the scope of the project and the cost of materials. Contracts include standard contracts, prime contracts, blanket purchase orders, and service level agreements.
Creating standard or prime contracts
Standard contracts are normally created as part of the bidding process. However, you can create a standard contract manually.
Recording changes in contracts
A standard contract or prime contract is a binding agreement, and therefore changes cannot be made directly on the contract. You can use a contract change order to record all changes that are made during the execution of the contract. For example, the terms and conditions might change.
Creating blanket purchase orders
Blanket purchase orders are used when an agreement is reached between an organization and an external vendor for a definite quantity of a product to be purchased at a set price.
Creating purchase orders from blanket purchase orders
From the blanket purchase order, you can create the purchase order that is used to procure the products and services.
Creating service agreements
The service agreement record is created when a contract exists between a vendor and an organization for the supply of materials or services at a specified price within a specified time period. Typically, service agreements are used to track internal service providers, such as workshops.

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