Purchase Contract Deduction Types

Contract deduction types are defined to determine the deduction types which will be used to calculate allowance amounts in Purchase Contracts associated with the projects. The contract types are used in "Administrative Specifications Info" field of the Purchase Contracts.

Purchase Contract Deduction Type information is entered using the "New" option.

Code: Indicates the contract deduction type code. It is an alphanumeric string 10 characters in length.

Description: Indicates the descriptive information of the contract deduction type.

Type: Indicates the contract deduction type default value. This field lists two options: Amount and Rate.

Default: When the deduction is added to the contract, the default value is transferred automatically by default.

Affects Progress Payment Production Amount: This checkbox is checked if Contract Deduction Type should affect the Progress Payment Production Amount and progress payment invoice total.