Example: Notice (Period Regulations) 

Starting Point

A contract has a contract term of less that 12 months and you want to specify that:

 

    1. A period of notice of one month to the end of the quarter applies
    2. The receipt of notice must be by the third calendar day of the last month in which notice can be given (as stipulated in the contract) for the period of notice to be valid

A contract term is longer than 24 months and you want to stipulate that:

    1. A notice period of 14 calendar days to the half-year applies (for example receipt of notice must be by 06/17 or 12/18)
    2. The notice must be received, at the latest, one calendar day after the last possible period of notice (in this case, a request for notice will be accepted up to 06/18 or 12/19)

Procedure

Set the above conditions by entering the following data for the period regulation of the lease-out

Term in months

No. Days

Indicator
CD (1)/WD (2)

FreM

NtPerMo.

NtPerDy

N.E.M.E

C.E.Y.

Cal

24

3

1

3

1

      

01

 

1

2

6

  

14

    

01

Term in months: Contract duration

No. days: The receipt of notice can be this amount of days past the due date for receipt of notice and still be accepted

Indicator CD/WD: Indicator for the number of working days (1) and calendar days (2)

FreM: Monthly frequency in which notice can come into effect

NotPerDy Period of notice in months

NtPerDy: Period of notice in days

N.E.M.E Notice effective at end of month? Only set indicator if there is no entry in FreM field.

C.E.Y. Notice period based on the end of the year

Cal: Type of calendar being used, for instance 01 = standard factory calendar for Germany.

Notice process

You process notices in the general contract in the tab, General Data.

The system automatically calculates the notice date by using the date of receipt. You can override the automatically calculated notice date by changing it manually in the Notice per field.

Using the information given in this example, the system calculates the notice dates as follows:

Date of receipt

Contract term

= Date of notice

On 3rd working day of month of April 1997

< 12 months

06/30/1997

On 3rd working day of month of April 1997

< 12 months

09/30/1997

06/18/1997

> 12 months

06/30/1997

06/19/1997

> 12 months

12/31/1997