Aura Business holds rate contracts as live records: the buyer, the items, the agreed price, the validity period and what has been drawn so far, so quotations and invoices respect the contract instead of relying on somebody remembering it.
A rate contract fixes the price of named items for a named buyer for a stated period. The hospital or government department does not place one large order; it draws supplies against the agreed rate whenever it needs them, sometimes for a year or more. Winning the contract is the hard part. Honouring it correctly is where suppliers lose money and credibility.
Aura Business keeps rate contracts in the tenders and government sales suite, alongside the tender tracker and the document vault they usually come from. The contract holds the buyer, the item list, the agreed rates, the validity dates and the supply drawn against it so far.
From there it does its real job quietly. When a quotation or an order is raised for that buyer, the contract rate is the price that applies, and the contract's end date is visible long before the day the buyer asks whether you will extend.
A rate contract is a promise made months ago by someone who may no longer be handling the account.
A coordinator prices from the current list and the buyer's stores officer spots the difference.
The signed document is on somebody's drive, so the terms are known only to whoever negotiated them.
Where a quantity ceiling exists, supply continues past it because nothing is counted.
The contract lapses and an order arrives that cannot be supplied at any agreed price.
The contract names one model and the despatch sends a successor model, which the buyer refuses.
Without a record of what was actually drawn, the renewal discussion is based on nothing.
The tender or negotiation concludes and the award documents are stored in the tender document vault.
A rate contract record is raised for the buyer with the item list, agreed rates and validity period.
The contract attaches to the customer account, so anyone serving that buyer sees it.
Quotations for those items to that buyer are priced from the contract rate with GST applied on top.
Each supply order, delivery challan and tax invoice is recorded against the contract.
What has been supplied and what remains, plus how long the contract still has to run.
Expiry reminders arrive with the draw history attached, so the next negotiation starts from evidence.
Workflow: A coordinator raises a quote for a government medical college and the contracted items price themselves from the agreed rate.
Result: No embarrassing correction after the buyer compares documents.
Workflow: The order references the rate contract, and the invoice raised against it carries the same rate with GST applied.
Result: Billing and the award agree when the buyer's audit looks at both.
Workflow: The expiry reminder arrives with the item-wise draw history for the period attached.
Result: The conversation happens before a gap in supply forces one.
Workflow: The contract, its documents and every order drawn against it sit on the customer account.
Result: Continuity does not depend on the person who negotiated it.
Consumables and equipment supplied on annual rates.
Departments and institutions buying under award terms.
Reagents drawn against a rate through the year.
Repeat supply where price is fixed and volume is not.
Plants and public bodies buying on standing rates.
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An AMC is a service contract covering maintenance of equipment over a period. A rate contract fixes the supply price of goods for a buyer over a period. Both are held in the platform, but they answer different questions. See what AMC software does.
The contract rate is what the quotation applies for those items and that buyer. Whether an override is permitted, and who may approve one, is set through role-based access during setup.
Yes. Rates are held per contract and therefore per buyer, so the same product can carry one rate for a government institution and another for a private hospital, each valid for its own period.
Billing is GST-native, so tax is applied to the contracted rate on the tax invoice with the correct CGST, SGST or IGST split. Confirm the treatment for your specific award terms with your accountant.
Usually from a won tender. The tender tracker, document vault and outcome analytics sit in the same suite, so an award becomes a contract without re-entering the details. See tender management.
Yes. Contracts approaching the end of their validity are surfaced with their remaining period and supply history, through the notifications hub and the reporting views.
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