Once a contract reaches its end, Concord will ask you whether you want to terminate or renew the document. To see how to terminate an agreement, please see this article.
You will be able to quickly overlook which documents are to be renewed or terminated as they will hold the red status "Renewable."
Note: You can set up alerts and notice periods to make sure you will not forget any deadline. See article here.
How to Renew a Contract?
To mark a contract as renewed:
- Open the contract from your contract library. Then go to the Summary Sheet and click the blue link "Mark as Renewed."
- Enter the date when the renewal starts, the renewal duration, and the new advance notice of termination.
- Click "Confirm."
You will see appear the new renewal information in the Summary Sheet.