What does "Contract economics have changed. Please recalculate Pricing" mean?

What does "Contract economics have changed. Please recalculate Pricing" mean?

If you have ever been building a contract or modifying a contract and seen the message "Contract economics have changed. Please recalculate pricing", you may be wondering:  What does this mean?


This message appears whenever you have made an "economic change" to the contract.  ASPIRE uses TValue to calculate the economics of a contract, and when something in the economic calculation changes, a recalculate must occur.  There are several things that will impact the way ASPIRE and TValue work together to calculate the Contract values.  If any of the items listed below are edited, it will initiate this message to prompt the user into recalculating the contract.  This type of change can occur prior to booking the contract as well as after the contract has been booked, either via a Booking Adjustment or Contract Modification.

Changes to a Contract that are considered "Economic Changes":
  1. A change to the Finance Product
  2. A change to the Finance Product Details (on the Main tab of the Contract Main screens)
  3. Any changes to the Amount Financed
    1. A change to the Equipment Cost (lease), including added or removed equipment records
    2. A change to the Loan Amount (loan), including added or removed loan contract items
    3. Adding Upfront Financed Tax (lease)
    4. Adding a Financed Item (lease)
  4. Adding an Adjustment Contract Item
  5. Changes to the Commencement Date
  6. Changes to the Down Payment field
  7. Changes to the Payment Schedule (amounts, frequency, number of payments, or dates)
  8. Changes to override the Maturity Date
  9. Changes to the Initial Contract Rate field
  10. Changes to add/edit any fields related to a Variable Rate
  11. Changes to add a scheduled Rate Change

Once one of the above items has been altered (prebooking or even during a post booking modification), TValue must recalculate, and it must recalculate either within the payment stream (either one, some, or all of the scheduled payments) or within the Customer Rate field (Initial Contract Rate or as an Added Rate Change).  

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