# Time Period Based Contracts

Module: Rates and Contracts
Module slug: rates-and-contracts
Source URL: https://helpcentre.shipsy.io/en-US/shipsy/article/V7laVP4N-time-period-based-contracts
Article ID: V7laVP4N
Breadcrumbs: Rates and Contracts > Customer Contracts > Time Period Based Contracts

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**Title**: Understanding of Time period-based contracts.

**Description:** Time period-based contracts, also known as term contracts, are a specific type of contractual agreement that defines the terms, conditions, and duration of a business arrangement or relationship between two or more parties. These contracts are based on a predefined time period and come with distinct characteristics.

**Prerequisites (if applicable):**

**How to create time period-based contracts**

* Navigated to Shipsy portal > Setup > Middle Mile > Rate Master > Contracts.
* Click on Add New Contract option > Fill up the relevant details:

  > Contract Name: Specific name of the contract  
  > Customer code: Enter the customer code for which you creating the time period-based contracts.  
  > Date Range: Duration of the contract to be active.![image.png](/kb-images/time-period-based-contracts--v7lavp4n/img_001_ea34b964af.png)![image.png](/kb-images/time-period-based-contracts--v7lavp4n/img_002_a78c8e4fdc.png)**Outcome:** Time period-based contracts will be created for the respective customers as per the user requirements. The further rates & charges will be applied on the basis of the contract setup.