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[Music] hi everybody my name is scott walls for over 25 years ive deployed erp applications for some of the worlds largest organizations during that time ive taught thousands of people just like you how to discover use deploy and support oracles back office applications in this lesson im going to teach you what a procurement contract is types and examples when theyre created how theyre created and by whom as well as how contract lines relate to agreements please note that this lesson is part of the procurement or supplier contracts course found under the contract management area of the discover menus but before we get started did you know that you could earn free discovery badges for display on your linkedin profile just by watching videos like this one you can stay until the end of this video and ill show you how okay so lets get started key topics for this lesson are as follows what are procurement contracts procurement contract types and examples when are contracts created