A collection of fields that store information about a specific item of a specific
type (represented by an object), such as a Contact, an Account, or an
Opportunity.
Record Type
Allows you to offer different business processes, picklist values, and page
layouts to different users.
Renew
The Renew action enables users to create a new version of the
agreement.
Reports
Salesforce delivers standard report folders containing reports for each record
type. For example, Accounts, Opportunities, Leads, and so on.
Retention Policy
Determines the length of time a record must be stored.