---
title: Understanding Price Contracts
description: Price contracts in Resto iQ serves as a tool to document agreements between the restaurant and the supplier/s. This allows users (subsequently Resto iQ as well) to recall previously negotiated prices with the suppliers.
---

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# Understanding Price Contracts

## Price contracts in Resto iQ serves as a tool to document agreements between the restaurant and the supplier/s. This allows users (subsequently Resto iQ as well) to recall previously negotiated prices with the suppliers.

#### Overview

Price contracts in Resto iQ serves as a tool to document agreements between the restaurant and the supplier/s. This allows users (subsequently Resto iQ as well) to recall previously negotiated prices that may be forgotten considering multiple suppliers of potentially similar items.

![](https://support.mosaic-solutions.com/hs-fs/hubfs/image-png-Oct-14-2024-03-02-08-3771-AM.png?width=1224&height=712&name=image-png-Oct-14-2024-03-02-08-3771-AM.png)

Important: this is not the module where users assign the price of the menu-items. Instead, this is exclusively for contracts and agreements between restaurants and suppliers.

 

#### Adding Contracts

![](https://support.mosaic-solutions.com/hs-fs/hubfs/image-png-Oct-14-2024-03-02-10-6621-AM.png?width=1226&height=624&name=image-png-Oct-14-2024-03-02-10-6621-AM.png)

Adding price contracts in Resto iQ is quick and simple. Users only need to enter the following information:

1. **Supplier** - enter the supplier name. Resto iQ will recall all pre-configured suppliers.
2. **From/to date** - enter the date range of the contract.
3. **Item pricing**  
   - **Item Name** - name of item. Resto iQ will recall all pre-configured items in Resto iQ.  
   - **Contract Price** - agreed upon price in ₱  
   - **UOM (unit of measure)** - example: kg, mL, L, grams, trays, cases, etc.

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