Performance Obligation — Supplies, Purchases and Sales

Description

This AI field captures a party’s promise to supply, sell or purchase goods or products under an agreement, and a party’s obligation to continue supplying, selling or purchasing goods or products upon termination of an agreement, any minimum purchase obligations, and provisions relating to failure or inability to supply. This AI field does not capture provisions relating to delivery terms, forecasts or purchase orders, except where the provision makes it clear that a forecast or purchase order creates a binding obligation, pricing with respect to goods or products, or in most cases, any defined terms relating to goods or products. When considering performance obligations for the purposes of IFRS 15 or ASC 606 (or any similar accounting standard), this AI field should be used in conjunction with the "Performance Obligation — Services" and "License Grant" AI fields.