Contract fields for Enterprise Asset Management

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  • Updated March 12, 2026
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    Summary of Contract fields for Enterprise Asset Management

    This document provides a detailed description of the contract fields used within the Enterprise Asset Management (EAM) application in ServiceNow. These fields help you effectively manage lease contracts by capturing critical information related to vendors, contract terms, financial details, and administrative roles.

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    Contract Fields

    • Vendor: The vendor associated with the lease contract.
    • Contract number: A unique identifier for tracking the lease contract, typically obtained from the vendor.
    • Name: The name of the lease contract.
    • Parent contract: Reference to any higher-level contract that this lease contract is associated with.
    • Start date: The date when the lease contract begins.
    • End date: The date when the lease contract ends.
    • Contract administrator: The user responsible for managing the contract and liaising with the vendor.
    • Approver: The user who approves or rejects the lease contract.
    • Business owner: The user managing the contract from a business perspective.
    • Description: A detailed description of the lease contract.

    Financial Fields

    • Invoice payment terms: Specifies the terms describing how and when payments must be made.
    • Payment schedule: Defines the frequency of lease contract payments.
    • Payment amount: The amount to be paid per payment, configurable in any currency.
    • Applicable taxes: Options to indicate if the lease contract is exempt from taxes or subject to sales taxes.
    • Lease term (months): Duration of the lease contract in months.
    • Vendor account: The account to which payments must be made.
    • Purchase order: Purchase order linked to the lease contract.
    • Cost center: The financial cost center responsible for the lease contract.
    • Has rate card: Indicates whether the lease contract includes an associated contract rate card detailing cost information.

    Practical Application for ServiceNow Customers

    Understanding these fields enables you to accurately capture and manage lease contract details within the Enterprise Asset Management module. This facilitates contract tracking, financial oversight, and clear assignment of responsibilities—critical for effective asset and lease management. The inclusion of financial terms and the ability to link rate cards enhance financial transparency and control. Administrators can ensure compliance and streamline contract administration by leveraging these standardized fields.

    A detailed description of all contract fields in the Enterprise Asset Management application.

    Contract

    Field Description
    Vendor Vendor that is associated with the lease contract.
    Contract number Unique number that is used to identify and track the lease contract. You can obtain this number from the vendor.
    Name Name of the lease contract.
    Parent contract Parent contract that the lease contract is associated with.
    Start date Date on which the lease contract begins.
    End date Date on which the lease contract ends.
    Contract administrator User who manages the lease contract and communicates with the vendor.
    Approver User who approves or rejects the lease contract.
    Business owner User who manages the lease contract from a business perspective.
    Description Description of the lease contract.

    Financial

    Field Description
    Invoice payment terms Terms that describe how and when you must make payments for the lease contract.
    Payment schedule Frequency at which you must make each lease contract payment.
    Payment amount Amount that you must pay for each lease contract payment.
    Note:
    You can set this field to any currency of your choice.
    Applicable taxes Taxes that are applied to the lease contract. Select one of the following options:
    • Exempt: The lease contract is exempt from taxes.
    • Sales: Sales taxes are applied to the lease contract.
    Lease term (months) Length of the lease contract, in months.
    Vendor account Vendor account to which you must make each lease contract payment.
    Purchase order Purchase order that is associated with the lease contract.
    Cost center Cost center that is financially responsible for the lease contract.
    Has rate card Option that indicates if the lease contract has an associated contract rate card, which provides detailed cost information for the contract.

    See Create a contract rate card for more information on contract rate cards.