A company has acquired a contract for an asset covering labor, materials and tools.
What must be created to capture this information?
A company has acquired a contract for an asset covering labor, materials and tools.
What must be created to capture this information?
A purchase contract is created to encapsulate the acquisition details of an asset that includes labor, materials, and tools. Purchase contracts generally cover the procurement of various goods and services necessary for operational needs, including labor, materials, and tools, ensuring that all required aspects of the asset are covered under a single agreement.
It's B, Warranty Contract. Master contract is incorrect because it just combines multiple contract records. https://www.ibm.com/support/pages/distinguishing-contract-types-maximo
https://www.ibm.com/support/knowledgecenter/SSBLW8/com.ibm.mam.doc/mods_apps/c_ctr_mam_mod_contracts.html
Master contract A way to associate many contract types together for the same vendor and define terms and conditions for the relationship with the vendor. A master contract lists all contracts that you have with a particular vendor. For example, a master contract might list rental contracts for tools or equipment, purchase contracts for materials, a labor rate contract, and a warranty on parts and labor. Master contracts are created in the Master Contracts application.
The above link is not longer online... https://www.ibm.com/support/knowledgecenter/search/master%20contracts?scope=SSLKT6_7.6.1.2