The Amend function is used to make any changes to an existing contract. An amendment is necessary when the terms or original parameters of your contract have changed. This may include a change in start date, end date, an increase in the monetary volume of a contract or additional documentation needed to extend a contract. All amendments are published in the Amendments tab, allowing the changes made over the life of a contract to be easily viewed and audited.
|Note: The Start Date of a Contract can be changed as long as the Start Date remains earlier than any linked Orders or Requisitions.|
Creating an Amendment
When a user selects the Amend function on a contract, they are initially presented with a check-box stating "This change represents an amendment". Checking this box allows an amendment record to be published for the change. The user will also be prompted to include a description of the amendment they are making, as well as an effective date. The date can be set to the current date or any date in the future that reflects when the change to the contract will take effect.
Amendment documents can also be added at this point. This is the ideal location to store any official documents related to the change in the contract in a digital form, eliminating the need to keep any paper documents related to the change in any terms or parameters. Although attaching documents is not necessary, it can be very useful.
As an alternative, if the change is a simple edit (for example, fixing a typo), the user can leave the box unchecked. This will keep the amendment from being published in the Amendments tab.
Amendments are published within the Amendments tab of every contract. This supplies a detailed and easy-to-use audit trail for all amendments to the contract. Amendments can also be deleted from here, however a deleted amendment can still be viewed by checking the Show Deleted Amendments check-box.
The Details function allows the user to view the description and any other details significant to that amendment.