What you can do here
Terms are an integral part of smart contracts, as they determine the payment and dispute clauses within the contract. You can create payment and dispute terms according to any contracts that you have.
Terms creation is currently not available for hotels/properties.
How to access
1. Access this page by clicking Settings (1), then Terms (2) in the left panel.
You will see your previously created terms:
How to configure
Before proceeding, we would like you to take note of some important information:
-
Once the terms have been successfully created, their details cannot be modified.
To make changes to the details, you will have to delete and re-create the term. -
Terms cannot be deleted or disabled once they are in use.
To disable/delete a term that is currently in use, you would need to remove the term from all Smart Contracts first.
Payment Types
Booking payments (Token)
This option is suitable if you want payments to happen on a per-booking basis
1. In the pop-up, enter the preferred name (1)
Select the term parameters (2) from the drop-downs
- Category: Receivable / Payable
- Type: Payment
- Group: Booking
Click Create (3) once done.
2. After successfully setting the term parameters, it will appear on the Terms Setup page. Click on it again to configure the details further.
3. On the Term Details page, select Token (1)
Then configure the term details (2)
Click Create once you've finished
- Cancellation - Specific to room rate
- Due Terms - When is the payment due
- Event - Trigger event to due terms
- Transaction grouping - Used if Bookings should be grouped together
- Issue Schedule - How often should the invoice be issued
- Payment Fee - Who pays PayDocker fees
Once the details are saved, the term will be activated automatically, indicated by the blue toggle.
4. We also include the option to retry payment if an error was encountered. This is only available if the due terms have a BEFORE trigger.
5. Configure the next steps if the retry action has failed.
Booking payments (Object)
This will be suitable for cumulative booking payments.
1. In the pop-up, enter the preferred name (1)
Select the term parameters (2) from the drop-downs
- Category: Receivable / Payable
- Type: Payment
- Group: Booking
Click Create (3) once done.
2. After successfully setting the term parameters, it will appear on the Terms Setup page. Click on it again to configure the details further.
3. On the Term Details page, select Object (1)
Then configure the term details (2)
Click Create once you've finished.
- Cancellation - Specific to room rate
- Due Terms - When is the payment due
- Event - Trigger event to due terms
- Transaction grouping - Used if Bookings should be grouped together
- Issue Schedule - How often should the invoice be issued
- Payment Fee - Who pays PayDocker fees
Once the details are saved, the term will be activated automatically, indicated by the blue toggle.
To note: There will be no re-try option for booking payment through Objects.
Service payments (Object)
This will be suitable for service (non-booking) payments.
1. In the pop-up, enter the preferred name (1)
Select the term parameters (2) from the drop-downs
- Category: Receivable / Payable
- Type: Payment
- Group: Service
Click Create (3) once done.
2. After successfully setting the term parameters, it will appear on the Terms Setup page. Click on it again to configure the details further.
3. On the Term Details page, configure the term details
Then select Object
Click Create once you've finished
Dispute Term
Disputes happen when one party rejects a payment. Dispute terms are mandatory when it comes to configuring Smart Contract payments.
1. In the pop-up, enter the preferred name (1)
Select the term parameters (2) from the drop-downs
- Category: Receivable / Payable
- Type: Dispute
- Group: Booking / Service
Click Create (3) once done.
2. After successfully setting the term parameters, it will appear on the Terms Setup page. Click on it to configure the details further.
3. On the Term Details page, select the term details (1) from the drop-downs. Click Create (2) once done.
Once the details are saved, the term will be activated automatically, indicated by the blue toggle.
Modifying your terms
Before modifying the terms, here are some important things to note:
Disabling or deleting terms that are connected to smart contracts is currently not available.
To disable or delete terms that are currently connected to smart contracts, you will have to disconnect with the supplier first.
How to Disable Terms
If there is a term that you wish to retain but is currently inactive, you have the option to disable it.
1. Click on the term on the Terms Setup Page.
2. Click on the Toggle under the Status to disable the term.
How to Delete Terms
1. Click on the term on the Terms Setup Page.
2. On the Term Details page, select Delete to delete the term.