The Contracts tab in the Hofy platform allows Hofy managers to view all of their contracts, filter them by status, and review all relevant information (e.g value and its latest assigned team members).
When an order is placed on the Hofy platform, a rental contract begins once it has been delivered. As a Hofy manager, you can choose the contract’s rental length (12, 24 or 36 months; 6 months is available only on our bundled model) and you can also choose your preferred billing frequency (upfront, monthly or annual payments). To learn more about this, please see our Help Centre article on configuring your rental terms.
If the user is offboarded or the item is no longer needed, you can choose to cancel this contract or continue renting the item and redistribute it to another user. If you choose the redistribution option, one contract may end up with several item ‘assignments.’ Reassigned equipment will show on your invoices under the original users' name. However, you can use the Contract feature to easily reconcile the equipment's current assignment.
How to manage your contracts
You can view contracts within the Hofy platform by going to the ‘Contracts’ page on the left-hand panel.
Contracts are identified on your invoice using a contract ID # (starting with CON and followed by an 8 character code). This is not to be confused with the order ID #.
To find a contract on the Hofy platform, search the contract ID # on the ‘Contracts’ page. Click into the contract details to see a detailed breakdown.
[ACCORDION] Statuses
Once you’ve clicked into Contracts, you can view all of their statuses. This will show you when the order was placed, the delivery date and when the contract was activated, as well as the scheduled end date of the contract.
- Pending - any order until it has been delivered.
- Active - once an order is delivered, the contract status will change to active.
- Ended - once a contract has ended and the device has been collected or purchased, the status will update.
- Available to Reuse - contracts for devices which are currently unassigned and are available to be reused. Please visit our Help Centre article to lean more about our Store and Reuse service.
While reviewing your contracts, you can sort the page by contract status or end date, as well as download an .XLSX file of your contracts.
[ACCORDION] Manage Contract Options
You can now manage your end of contract options in our platform, either by off-boarding your team member or managing a specific asset. Learn more about our requesting a collection as a manager guide.
Pricing and more contract details
Once you click into a specific contract, you can see the services associated with the contract, who the contract is assigned to currently (and who it was with previously).
You can also review:
- its total contract value
- start date and end date of your contract
- rental term
- monthly rental fee
- amount remaining on the contract left to pay
- months remaining on the contract
In the contract details, you can also view a breakdown of the pricing, including any applicable equipment discount, billing frequency discount and/or country multiplier.
You will be able to see the relevant contract reference ID, (which is the same reference ID displayed on your invoices), product names, their assigned team member, status, creation date and total contract value (TCV).