A document which indicates a relationship between a Vendor and either the Client or Management Company. Fees and Terms and Conditions are outlined.
Statues of The Contract
Below are the statuses a contract can be in. The most important thing for these statuses is to inform when the standard auto renewals on a vendor contract can be cancelled.
There are upcoming services scheduled, but on this contract *yet*.
2. Initial Term
Initial term means that this contract has never expired before, and thus never been auto renewed. Looking at the contract's `initial_expiration_date`, it will be a date in the future. Given the fact no expiration date has come to pass, there may not yet be a Cancellation of Auto Renewal opportunity.
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.
4. Initial term (Auto Renewal Cancelled)
We are still in initial term and the auto renewal has been cancelled. This is a good status to be in. 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.
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.
7. Standard Renewal Term (Can Cancel Auto Renewal)
The contract is in a renewal term. 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.
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".
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.