Contracting is a product group-level process in which the vendor and buyer decide on terms and sign a contract to lock in those terms for a set period of time.
Contracts must be initiated by the vendor; after setting the contract dates, unit price to Groupon and the minimum number of units that will be available to sell on the website, the contract is submitted to the buyer. Once the buyer reviews the contract, they can either set the sell price and accept or reject the contract to further negotiate the terms. If the contract is accepted, the product has been contracted.
Terms entered by vendor:
- Start & End Date
- Unit Price to Groupon
- Minimum number of units that the contract covers
Terms entered by buyer:
- Co-op information (optional)
- Sell Price on the site