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IFS/Sales Contract Management™ provides lifecycle management of a sales contract from bid and tendering through completion and handover. It contains functionality for payment terms, mark-up and retention rules, contract revisions including baseline control, and contract status with staged workflow and detailed change history logging. It also has links to projects on a granular level including cost roll-up from projects. The component also includes Application for Payment functionality, which handles a cumulative valuation payment process by which the company applies for money on a regular basis based on work progress. It keeps control of defined mark-up and retention rules, certificates and payments.
"Sales Contract Management" is part of the IFS Applications line of products, developed by IFS North America.