Assigning an Executed Agreement [edit]

Assigning an Executed Agreement 

In ICM, authorized users can assign executed Agreements to other parties to fulfill obligations and responsibilities as per the terms and conditions. The process of assignment can be initiated to change the parties (legal entities) or some other attributes of the main agreement, based on the business requirements. Authorized users can initiate an Assignment creation on an executed Agreement, take the Agreement through the workflow and negotiation process, and execute the same through the signature process.

Users with Manage privileges on the Masterdata can set up the Contract Types that need to be allowed for creating an Assignment. ICM displays Add Assignment along with other actions to which the user has role-action mapping privileges (as part of a Team). When the Assignment is initiated, user can select the Assignment Contract Type from the drop-down as per the mapping done through Masterdata configuration. After the Assignment is executed, the scheduler supersedes the values from the Assignment to the parent Agreement (based on the Is Supersedable by Assignments value of the attribute set in the Contract Type) on ICM Assignment date and the Assignment moves to the Completed state.

Note:The Assignment process is similar to an Amendment but has flexibility in terms of Contract Type selection and follows an independent Agreement workflow.

There can be multiple assignments in the lifecycle of a particular Agreement. Search and Notifications are applicable to Assignments as well.  You can search or generate a Report on the metadata of the main Agreement before and after the Assignment effective date.

To add an Assignment to an Excecuted Agreement: 

• Click Add Assignment on Agreement Details page of the Agreement that is in Executed state.  Other actions will be displayed based on the role-action mapping privileges as part of the team. This initiates the creation of Assignment Agreement. 

Note: You must click the Add Assignment button and not the + button in the grid. Clicking the + button only creates a peer association as shown in the image below.

An authorized user can view only those Contract Types that are configured as peer associations in the Agreement Contract Type and are mapped in the Masterdata.