SYSTEM AND METHOD FOR GENERATING A CONTRACT AND CONDUCTING CONTRACTUAL ACTIVITIES UNDER THE CONTRACT

摘要

A system and method for automating the contract negotiation and preparationcycle and forelectronically facilitating subsequent contractual activities executedpursuant to the contract. Thesystem for generating a contract comprises a Business Rules Book containing aset of rules fromwhich specific rules may be selected for inclusion in the contract. A Termsand Conditions Setrepresenting a unique set of instances of rules selected from the BusinessRules Book is selectedfrom a plurality of stored Terms and Conditions Sets. The seller and the buyersettle the provisionsof the contract by agreeing to a mutually acceptable set of Terms andConditions. The administeringorganization creates a Product List Filter specific to each seller or buyer,targeting products in whichthere is a mutual interest. The Business Rules Book, Terms and Conditions andProduct List Filterare linked in a contract profile, to create a contract representing theagreement between the seller andthe buyer, and the contract is locked. Subsequent contractual activities underthe contract areexecuted through the contract, which automatically inserts values from theterms and conditions ofthe contract to ensure conformity with the terms of the contract and minimizemanual administrativeactivities.