Renew a Contract

When there is an existing contract, users can set up an automatic renewal for the future. To begin on the active contract's end date. 

Users with the Contracts Administrator or View Contracts role can renew a contact. 

Renewal of contracts save time and if the terms of the contract change by the time the renewal happens. These changes can be easily amended.

Contracts can be renewed from the Active or Expired state. Contracts that have been Canceled state cannot be renewed.

Renew a Contract

To renew a contract, go to the Contracts module > select Contracts > locate the desired contract > click the contract name.

Select More Actions > click Renew.

Once completed, the details of the existing contract will automatically populate to create a new contract. 

Unlike the Copy function, the Renew feature retains the same contract number and links the renewed contract to the previous contract. 

Update the Counterpart tab, if needed > select the Leadsheet tab.

The auto-renew function is indicated by the auto-fill Start Date and time from the original contract > insert the desired End Date and time.

Update the additional contract tabs, if needed > once completed, select Finish. The Renewals tab will appear displaying the original contract and renewed contact(s).

Renew a Contract with Amending

There are 2 phases to renewing a contract when amending.

To renew a contact when amending, select the Renewal tab > +Add Renewal.

A pop-up box will appear, to enter desired information. 

To add alerts, select +Add Alert > once completed select Add. To add additional renewals, click Add More.

Once completed with amending and renewing, select Finish.