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How to renew a contract?
To renew a contract, click Renew Contract from the available options on the right side of the Contract Details tab. This menu is accessed by clicking the three-dot ellipsis button.
Please note: You will only see the 'Renew contract' option if the contract was in an executed state when it expired.
When can a contract be renewed?
A contract can only be renewed once it has expired. NOTE: You will only see the 'Renew contract' option if the contract was in an executed state when it expired.
Who can renew a contract?
All contract members (including standard users who only have Preview access to the contract) will receive a notification when a contract has expired, but only the Contract Owner can renew a contract.
If you have been tasked with renewing the contract and are not the current owner, you can assign this role yourself. From the Contract Overview tab, look for the Contract Owner field and then search for and assign the contract to yourself.
If you have just assigned yourself as Contract Owner, you will need to refresh the page to make the option appear from the ellipsis button menu.
How to adjust the expiration date?
The assigned Contract Owner will receive a notification reminder that a contract is expiring in 30 days. To adjust the expiry date, click on the Expiry icon on the right side of the Contract Details tab above the ellipsis button and select the appropriate date.
Please note that you cannot change the expiry date on a contract that has Expired while in Executed state. If you attempt, you will be prompted to renew the contract.
On the other hand, if a contract has expired without being executed, you can adjust the expiry date, and this will revert it back to the stage it was in prior to expiring.