Contracts are the central entity in Tide and are created to reflect a single delegated authority contract. Companies are assigned to each Contract, which determines access to the Contract and permission levels. All data submissions must be assigned to a Contract.

The Contracts screen contains all the Contracts in Tide that you have access to.

Contract Structure

Tide organises renewing Contracts within a Folder. For example, there may be a Folder containing 3 Contracts, one for 2016, 2017, and 2018 renewing Contract Years of Account. This provides a structure for linking together renewing Years of Account Contracts. Tide generates a unique reference for each Contract Folder, made up of 6 numbers and 2 letters.

When you are within a Contract, you can use the Contract drop-down at the top right of the screen to switch between different Contract Years of Account within the Folder.

Each Contract in Tide must have one or many Sections. This should reflect the number of Sections in the original physical Contract document. Information in each Contract is recorded at either the Contract or Section level. For example the Inception Date is recorded against the Contract, and Estimated Premium Income against Sections.

Creating a Contract

Only Insurers and Brokers can create Contracts in Tide. The first Contract of a Contract Folder is created from the Add Contract button in the Contracts screen. You will create the Contract Folder as part of this process. Further renewing Contracts are created from within an existing Contract of the Contract Folder.

Master Contract

There are instances where a Master Contract is required to be created. The definition of a Master Contract is a Contract to which no Bordereaux will be processed. There is a question on the Add Contract User Interface which asks, ‘Will Bordereaux be processed to this Contract’. The default answer to this question will be ‘Yes’, however if this is amended to ‘No’ then the Reporting Channel Tab will be hidden and the User may sign the contract without a Reporting channel which will mean no Bordereaux will be able to be submitted against this Contract. The question may only be edited when the Contract is in ‘Draft’ status.

The below video tutorial shows you how to complete the Contract creation process. Visit the Contract Creation article for further details.