Contract terms and revenue terms in revenue note
Catalog row in Vendor License Evidence · Cited
- Kind
- Quote
- Excerpt
- "Subscriptions are typically sold with a five-year initial term, but have been for seven years or more in some contracts, with a customer option to renew on an annual basis after the initial term. Term licenses have an initial term with a customer option to renew on an annual basis after the initial term. Support for term licenses follows the same contract periods."
- Locator
- Note 1, Revenue recognition
- Applies to
- Subscriptions have an initial term of generally five years with annual renewals; Term licences are generally sold with a two-year initial term and optional annual renewals
- Supports rules
- Related programs