Each service has its own term and renewal information, available in the Term and Renewal section of the service details view:
The service term consists of a start date and an end date, defining the current service agreement. For example, a service may have the following history:
- Initial Term: Service started on 1/15/2020 for a one-year term ending 1/14/2021, set to renew annually.
- Auto-Renewal Term: On 1/14/2021, the renewal was processed automatically, and term was adjusted to 1/15/2021 through 1/14/2022.
- Customer Renewal Term: On 6/15/2022, the customer opted for a two-year renewal with a month-to-month extension afterward, setting the new term from 6/15/2022 to 6/14/2024.
The following fields control service term and renewal:
| Field | Meaning |
|---|---|
| Term | Service contract term measured in months. For example, ‘1’ represents a month-to-month service, ’12’ signifies a one-year term, and ’60’ corresponds to a five-year term. Initially, this value reflects the original term at the time of service order but may be updated due to customer re-terms or renewals. |
| Current Term Start Date — Current Term End Date | Date range of the current term. Unlike Service Start Date (which remains fixed throughout service lifecycle), term dates are moveable and are updated with each renewal (see below for details on calculations). |
| Term Type | Describes type of term for reporting purposes:
|
| Service Start Date | Fixed date when service was started / went into service (see information on starting services), also known as SoS (Start of Service).Service Start Date is usually equal to the Current Term Start Date for the initial term, but that does not have to be the case. |
| Service End Date | Fixed date when service went out of service set upon service cancellation (see information on canceling services), also known as EoS (End of Service). |
| Renewal Type | Determines how service will renew once end of current term is reached:
|
| Is In Term | True if service is “in term”, i.e., the current term type is equal to Initial, Auto- or Customer- renewed (in other words the service is active and does not have a month-to-month renewal). |
| Days To End Of Term | Number of days remaining until end of the current term calculated only for services that are “in term” (the current term type is equal to Initial, Auto- or Customer- renewed), zero otherwise (e.g., for month-to-month services). This field is used for reporting purposes and can be potentially used for ETL (Early Termination Liability) calculations. |
| Months To End Of Term | Number of months (with decimal part) remaining until end of the current term calculated only for services that are “in term” (Initial, Auto- or Customer- renewed), zero otherwise (e.g., for month-to-month services). This field is used for reporting purposes and can be potentially used for ETL (Early Termination Liability) calculations. |
The following formula is used for end of term calculations:
term end date = term start date + term months - one day
For example:
| Term start date | Term (months) | Term end date |
|---|---|---|
| 2020-01-15 | 6 | 2020-07-14 |
| 2019-12-31 | 1 | 2020-01-30 |
| 2019-12-31 | 3 | 2020-03-30 |
| 2020-01-01 | 1 | 2020-01-31 |
| 2016-01-01 (leap year) | 2 | 2016-02-29 |
| 2018-01-01 | 2 | 2018-02-28 |
| 2018-01-01 | 12 | 2018-12-31 |
For services that have renewal of Term, Month-to-Month and Year-To-Year, the Service End Date is adjusted as follows:
- Month-To-Month → Service End Date not changed (service will be “out of term”).
- Year-To-Year → Service End Date + 12 months.
- Term → Term + number of months specified by Term.
For services that have Renewal Type set to Expires service status is changed to Expired on Term End Date.
Each renewal is saved as in Service Changes and is visible in the Service Timeline, but not in Chatter.
| Important |
Service renewals and expirations are processed in the background by the Service Auto Renew and Expire job, which is configured in the Nextian Job Scheduler. |
