An obligation is a commitment to provide or receive services, goods, or money between one or more contracted parties. Obligations are contained in contract clauses and require human interaction to interpret. The Obligation Management feature in Contracts for Salesforce allows you to automatically handle managed obligations on contracts when pre-defined Lifecycle Events occur.
In Contracts for Salesforce, obligations are related to clauses. Users can create obligations and relate them to clauses within the Clause Library. When the definitions of a Lifecycle Event are met, obligations are added to a contract. An example of a Lifecycle Event is when a contract is fully-signed and becomes active.
You can customize obligations to contain various types of information about commitments in a contract
Automation and Alerts can be created for obligations
Obligations can be included in standard Salesforce reports
To set up Obligation Management in Contracts for Salesforce, select the below topic: