Example: Notice (Deadline Regulations)
Starting Point
A contract has a contract term of less that 12 months and you want to specify that:
Notice comes into effect on 15 March of the following year as long as receipt of notice is by the 3rd working day in the preceding October.
A contract term is longer than 12 months and you want to specify that:
Notice comes into effect on 30 June of a year as long as the notice is received by the 4 March (calendar day) in March of the same year (year in which notice comes into effect).
Procedure
Set the above conditions by entering the following data for the deadline regulation of the lease-out .
Term in months |
Day in month |
Month |
Year |
Indicator CD/WD |
N.E.D |
N.E.M |
N.E.Y |
12 |
3 |
10 |
1 |
15 |
3 |
||
4 |
3 |
2 |
30 |
6 |
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Term in months: Contract duration Day in month: Day of the month by which the notice must be received for it to become effective on the date stipulated. Month: Month in which notice is given Year: Year in which notice is given CD/WD: Indicator for number of working days (1) and number of calendar days (2) N.E.D : Notice effective from day N.E.M : Notice effective from month N.E.Y : Notice effective from year |
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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 |
By 3rd working day of month in October 1997 |
< 12 months |
03/15/1998 |
After 3rd working day of month in October 1997 |
< 12 months |
03/15/1999 |
03/04/1997 |
> 12 months |
06/30/1998 |
03/05/1997 |
> 12 months |
06/30/1999 |