What are the choices available for creating contract hierarchies in the contract request wizard?

Creating contract hierarchies in the contract request wizard allows users to organize contracts systematically according to their relationships. The correct choice reflects the comprehensive capabilities of the system.

An essential feature of the system is its flexibility in establishing various types of agreements. This flexibility supports businesses in managing their contracts more effectively by allowing them to create a structured hierarchy of agreements.

Sub agreements are utilized for specific conditions or terms that pertain to the broader framework of a master agreement. Master agreements represent the overarching contract that sets the terms under which sub agreements can be created. Standalone agreements are independent contracts that do not necessarily relate to other contracts within the hierarchy.

By including all these options—sub agreements, master agreements, and standalone agreements—the contract request wizard provides users with a complete toolkit for managing their contract relationships. This option enables better organization and clarity in contract management, facilitating easier tracking and compliance with contractual obligations across various levels of agreements.