Best Practices for Contracts/Addendums
- Account name: Los Angeles Convention Center
- Region: AMER
Customer is wondering about best practices for contracts/addendums. They currently revise the contract so that it stays on one payment plan because they don't want to manage multiple payment plans. Many times they are dealing with large changes, not just adding an extra room, but adding many rooms and removing others and changing dates/times for others.
Their current process is to do this through contract revisions but that means changing each booking status that is being revised. Their biggest pain point is if a booked space “Usage” is changing because they have to change the previous licensed space to “Cancellation in Progress” and add that same space for the same date and time but with the status “Pending” for all the changes to be captured properly in their Addendum template document.
I have read through the Contracts & Addendums articles in Support Center and completed the Learning Center course on Contracts & Addendums but I don't have deep enough knowledge of this process. Do we have best practices or suggestions?
I can share a sample booking export for reference along with one of their addendum docs for the same event if needed.
Thank you!
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Following
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Jennifer, can you share the sample export for us to review?
So is it fair to say their biggest painpoint is how to manage alterations to Bookings to an in flight contract without having to take too many steps in updating bookings and making this mesh with their Addendum Template?
Are they using actual Addendums within the Contracts module or just adding a new template document and revisions to handle?
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Saved them in the Customer folder here: Examples
They are not using actual addendums, they're doing revisions on the contract and adding a new template document. Yes, the painpoint is changing each of the individual booking statuses so that they pull into the template document properly.
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Any thoughts on this?
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Jennifer Lee i would suggest to tag people on a post, i don't think others watch documentus.
I'm tagging Justin Wittrock for you. Also tagging Anthony Costantino for assistance.
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Jennifer Lee thx for the supporting reference material!
Seth Halvaksz we're watching, just not always able to comment on the subject matter or quickly due to client project work deadlines, i'm afraid. Justin and I will review and respond as soon as we can.
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I am behind on quite a bit for this week, wont be until next week I can review and weigh in on this, if client needs an answer before (which is fair), someone else or Product would need to weigh in.
Thanks,
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Understandable, next week is totally fine - thank you Justin Wittrock and Anthony Costantino!!
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Hi Seth Halvaksz, does Product have any “best practices” when it comes to contract revisions and addendums? Specifically when it encompasses a large number of items revised, like the example I shared in the folder above? Thanks!
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Hi Jennifer, this would be best answered by our consultants. Will wait for Justin and Tony to have a chance to comment.
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Okay, sounds good. Thank you!
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Hi all, following up on this! Thanks :)
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Jennifer Lee Thanks for your patience. Life got in the way.
The LACC has a custom addendum template using EZWriter to use some custom SQL to pull Bookings into the three tables, “RELEASE”, “ADD”, and “NEW AND REVISED BOOKINGS”. I looked at the code written by Janae Conway. They identify the booking records to pull into the tables ONLY by the Status value.
- RELEASE table: bookings at status Cancellation in Progress (78) or Cancelled from Licensed (86)
- ADD table: bookings at status Pending (40)
- NEW AND REVISED table: bookings at status Pending (40) or Licensed (50)
It sounds like the users have developed a workaround that involves cancelling and readding the same spaces when only a ‘usage’ change is needed INSTEAD of simply updating their template document and EZWriter data sources.
When Usage changes, in which table should that booking be captured? the New and Revised Bookings table? They should rethink the logic that is producing those tables.
I also notice in the EZWriter data source that there are no mentions of the Contract record. Believe it or not, those tables would generate even if there was not Contract record created… So, they are missing out on using the Revisions functionality. They should have written the SQL to compare the lists of Contract Bookings in each revision as a way to identify what changed.
Many Convention Centers manage addendums manually b/c of the business rules around it. Dropping space is not a frequent occurence (outside of pandemics) and usually involves a penalty if the convention center can't resell that space.
When appropriate, I encourage a Professional Services engagement so a consultant can review their contracting business rules, processes, and documents and provide some more focused attention than we really provide on this forum.
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Thanks so much Anthony Costantino, that is super helpful information and I'll go back to her with that suggestion! LACC does have Services Direct so this might be a great thing for those hours to be put towards. Due to their renovations right now, this is making a huge impact on their workloads. Appreciate your input and digging into this for me!
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