Contract Status Master Data

Contract status Master data controls actions associated with contract work flow. This work flow is set-up during an Agiblocks system implementation by an Agiboo consultant. There can be as as many contract status types set-up as necessary. Different combinations of contract status parameters allow flexibility when setting up contract status work flows .

Name	Description
Contract status	Tick to allow this status record to be displayed in a status field drop-down list in the Contracts Block.
Quote status	Tick to allow this status to be displayed in the Quotes Block. (This module is under development and not currently available.)
Ready for approval	Tick if this type of contract is ready for the approval process.
Validate contract	Tick if consistency checks should be performed before allowing the contract status to be changed. Currently Agiblocks has 2 validations implemented: 1. The contractual quantity should be equal to the delivery total. 2. If a Counterparty has the status Locked for all or Blocked for contracts, the contract status cannot be set to Approved.
Approved	Tick this if this contract type has been Approved.
Allow hedging	Tick to identify that a contract allows hedging
Allow reservation	Tick to allow contract information to be shown or used in the Reservation Block.
Allow shipment	Tick to allow contract information to be shown or used in Logistics Blocks.
Allow invoicing	Tick to identify that a contract of this type may be invoiced.
Show in MtM	Tick to show these contracts in the Mark to Market Block.
Show in contract	Tick to allow listing of a contract of this type in the Contracts Block. (Un-tick for contracts with status Archived or Canceled. These contracts are then visible only under the Hidden contracts tab).
Editable	Tick to allow contract editing.
Amend contract	Tick to identify that a contract of this type has been amended after the approval process. A reason for contract amendments is mandatory.
Update Fair Value	Tick to allow updates of fair value costs when this status is selected.
Default	Tick to set this as the default contract status when creating a new contract. Only one status type can be set as default