Terminating a signed contract

When your company decides to cancel a signed contract, you can mark it as "terminated" on Concord.

Note: When terminating a signed contract, your external parties will not be notified by Concord. If you'd like to notify your parties, please ensure to send a notice. 

How to terminate a contract

  1. Open a signed contract from your Documents page by clicking on it 
  2. Click on the '...options menu on the top right corner of the document
  3. Select 'Mark as terminated'Mark_as_terminated.png
  4. In the pop-up modal, enter the date of notification of termination, and the effective date of termination
  5. Click "Mark as terminated
  6. Depending on your date selections, your contract will be instantly terminated instantly 

 

What happens after I terminate a contract? 

If lifecycle information was added to your contract and the termination date is in the past, your terminated contract will immediately appear in your Documents page as Signed - Expired

If your termination date is in the future, the contract will stay Signed - Active until that date before it moves to Signed-expired.

Learn more about document stages here.

Note: You may remove your Expired contract from your Documents page by sending it to the trash. Simply check the box to the left of the document and select "Send to Trash".

 

How to cancel contract termination

Made a mistake? You can cancel contract termination at any time. Here's how:

  1. Open the terminated contract from your Documents page by clicking on it 
  2. Click on the '...options menu on the top right corner of the document
  3. Select 'Cancel termination'Cancel_termination.png
  4. The contract will move back to Signed - Active (or its original status) 

 

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