A project contract is an agreement with an external party. It defines the terms and conditions like deliverables, billing plan, payment terms and so on. Through its lines, a contract can be related to one or more projects. A project contract master header groups a set of contract lines that represent mutually independent, contractual agreements with the same external party. The project contract line contains detailed information for price, shipping, payment and billing terms. Each individual contract line can be related to a project. The contract lines of a single project contract represent mutually independent, contractual agreements.