This comprehensive guide outlines the steps you can take after executing a contract, including renewing, amending, and terminating contracts. Follow these instructions to manage your contracts efficiently.
Navigation to Post-Execution Actions
Navigate to the repository.
Select an executed or expired contract.
Under the contract stage, locate the section labeled "Select Post-Execution Action."
Choose the desired action: Renew, Amend, or Terminate the contract.
Renewing a Contract
Using a New Template
Select "Use New Template" to renew or amend the contract with a new template.
This is useful if your organization has an updated template for renewals or amendments.
You will be directed to the "Add New" page.
Select the contract type and template.
The form for the selected template will open.
Fill in the updated details.
Submit the form.
On the contract page, view the "Contract Trail" section, displaying both the original (old) and renewed (new) contracts.
Re-using the Current Template
Select "Reuse Current Template" to renew the contract using the same template as the original.
The new contract will follow the format of the Master Agreement.
The existing template form will open.
Update the necessary details for the renewal contract.
Submit the form.
On the contract page, view the "Contract Trail" section, displaying both the original and renewed contracts.
Amending a Contract
Using a New Template
Select "Use New Template" to amend the contract with a new template.
This option is suitable if your organization uses a different template for amendments.
You will be directed to the "Add New" page.
Select the contract type and template.
The form for the selected template will open.
Fill in the updated details.
Submit the form.
On the contract page, view the "Contract Trail" section, displaying both the original and amended contracts.
Re-using the Current Template
Select "Reuse Current Template" to amend the contract using the same template.
The amended contract will follow the Master Agreement format.
The existing template form will open.
Update the necessary details for the amendment.
Submit the form.
On the contract page, view the "Contract Trail" section, displaying both the original and amended contracts.
Terminating a Contract
Terminate on Expiry Date
Select this option to terminate the contract automatically on its expiry date.
Fill in the termination form.
State the reason for termination.
Upload supporting documents if necessary.
Terminate on a Custom Date
Select this option to terminate the contract on a custom date.
Fill in the termination form.
Provide the custom termination date.
Provide the initiation date.
State the reason for termination.
Upload supporting documents if necessary.
Post-Termination
Once terminated, the contract will move to the "My Archive" section.
By following these steps, you can efficiently manage post-execution actions for your contracts, ensuring they are renewed, amended, or terminated as needed.