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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. If an extension to the contract is needed instead follow the Extend a Contract guide.

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.
   
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2. Click the Renew button in the upper right hand corner of the content frame.
   
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3. If renewal information was filled out previously, but not submitted for approval, it will appear in the dialog box below.
   
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4. Make sure the Approver is correct. If changes are needed, enter the new individual in the Approval field.
   
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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.
   
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6. Otherwise, enter a date into the Renewal/Extension date and Renewal/Extension end date fields.
   
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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.
      
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   2. Enter a value for the Cost adjustment percentage or Cost adjustment amount. Filling out one will automatically populate the other.
      
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8. To save the renewal information and not submit for approval, click Save. The contract Substate will change to Awaiting Review.
   
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9. To submit the renewal for approval, click Submit for Review. The contract Substate will change to Under Review.
   
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10. Finally, update fields as necessary on the contract record.
11. Click Update.
    
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