Creating lease and rental contracts

You create a lease or rental contract to define the overall terms and conditions of an agreement between a vendor and a customer.

1. In the Lease/Rental Contracts application, click New Lease/Rental Contract. A lease/rental contract is created with a draft status and a start date set to the current date.
2. Optional: Change the contract identifier and provide a description for the contract.
3. Specify whether the type of contract is either lease or rental.
4. Optional: Specify contract dates, vendor information, and cost information.
5. Optional: Specify the following information:
   • Click the Properties tab to specify property information.
   • Click the Contract Lines tab to associate rotating items.
   • Click the Associated Assets tab to associate assets or locations.
   • Click the Terms and Conditions tab to define terms and conditions.
6. Save your changes.