Page Comparison

GUIDE STATUS: 

Overview

Renewing a contract is different than an adjustment or extension in that you can set a renewal start date past the current contract's end date, whereas an extension always begins at the current contract's end date. Follow the instructions below to submit an approval request for a renewal.

Conditions for Renewals

• Contract State must be either Active or Expired
• Contract Substate must be either None or Rejected.

Renew a Contract

1. Navigate to the contract to be renewed.
   
   Image Added
   
   
2. Click the Renew button in the upper right hand corner of the content frame.
   
   Image Added
   
   
3. If renewal information was filled out previously, but not submitted for approval, it will appear in the dialog box below.
   
   Image Added
   
   
4. Make sure the Approver is correct. If changes are needed, enter the new individual in the Approval field.
   
   Image Added
   
   
5. If you choose an option from the Options field, it will automatically populate the Renewal/Extension date and Renewal/Extension end date fields as follows:
   1. If the contract is active, the Renewal/Extension date will populate as the current contract's end date.
   2. If the contract is expired, the Renewal/Extension date will populate as the current date. 
   3. The Renewal/Extension end date will populate however long after the Renewal/Extension date you chose in the Options dropdown.
   
   Image Added
   
   
6. Otherwise, enter a date into the Renewal/Extension date and Renewal/Extension end date fields.
   
   Image Added
   
   
7. If there is any sort of cost adjustment information, fill out the adjustment information.
   1. Select a value from the Cost adjustment type dropdown.
      
      Image Added
      
      
   2. Enter a value for the Cost adjustment percentage or Cost adjustment amount. Filling out one will automatically populate the other.
      
      Image Added
      
      
8. To save the renewal information and not submit for approval, click Save. The contract Substate will change to Awaiting Review.
   
   Image Added
   
   
9. To submit the renewal for approval, click Submit for Review. The contract Substate will change to Under Review.
   
   Image Added
   
   
10. Finally, update fields as necessary on the contract record.
11. Click Update.
    
    Image Added

Revision History