A document which indicates a relationship between a Vendor and either the Client or Management Company. Fees and Terms and Conditions are outlined.
Statuses of The Contract
Below are the statuses a vendor contract may exist in. A Vendor Contract's Status primary purpose is to inform users of the Contract's current validity and track the status of "auto-renewal" cancel windows.
1. Pre-term: There are upcoming services scheduled, but the Effective Date on this contract is still in the future.
2. Initial Term: This contract is past its Effective Date and has never expired before (and thus never been auto renewed), and is not currently within a window of time that would permit cancelling any auto-renewal clause. Looking at the contract's `initial_expiration_date`, it will be a date in the future.
3. Initial Term (Can Cancel Auto Renewal): Initial expiration date has not been met. However the contract is eligible for a Cancellation of Auto Renewal, because given the expiration date and the Days to Notify (Min) and Days to Notify (Max) values, the current date falls within that window of time.
4. Initial term (Auto Renewal Cancelled): The contract is still within its Initial Term and the `initial_expiration_date` is in the future, but the contract's Auto Renewal was successfully cancelled. This is a good status to be in as future negotiating opportunities will not be locked-out because of a long term auto renewal. Once the contract expires then it will be moved to Rolling Month to Month.
5. Standard Renewal Term: No Cancellation of Auto Renewal Letter was sent and the vendor contract auto renewed for the `auto_renewal_term_months` value. There is also not an opportunity to cancel the auto renewal at this time, based upon the contracts Days to Notify (min) and Days to Notify (Max) values.
6. Standard Renewal Term (Auto Renewal Cancelled): The Contract is in a Standard Renewal Term, and the Auto Renewal has been successfully Cancelled. Once the contract expires then it will be moved to Rolling Month to Month, and a renegotiating opportunity will be available.
7. Standard Renewal Term (Can Cancel Auto Renewal): The contract is in a renewal term but it is also eligible for a Cancellation of Auto Renewal because the current date falls between the Days to Notify (Min) and Days to Notify (Max) values. Once the cancellation of auto renewal values are set, the status will transition to Standard Renewal Term (Auto Renewal Cancelled).
8. Rolling Month to Month: The contract does not have an extended term. In most industries, particularly the waste industry, a minimum 30 days notice is needed to cancel service due to the logistics of equipment removal, etc. Therefore the vendor contract is "renewed" for 30 days each night, and the status remains "Rolling Month to Month".
9. Terminated: There are no active services on the Vendor Contract and it is considered Terminated.
Vendor Contracts have a detailed Fee structure. Read more about it under Vendor Contract Fees.