There are multiple benefits for creating a “Stub Contract.” One of the reasons you may want to create a Stub Contract is because it is necessary to have a Contract in order to add a License to an Entity. Since not all the details of a Contract may be available at the time you want to add a License, a Stub Contract can be quickly created with minimal information for the purpose of adding a License.
Secondly, Stub Contracts can hold several Licenses at a time, thus making it easier to identify which Licenses are on the Contract.
Additionally, Stub Contracts can still carry vital information about the contract including the “Entities”, “Contract Status,” “Effective Dates,” and “End Dates,” all of which can be input at different times as information about the Contract comes through.
Overall, a Stub Contract is useful when not all the information is at your fingertips when creating a Contract, but know that the information can be filled in to edit the contract at a later date.
Helpful links:
-“How to create a Stub Contract”
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