Assessing contracts

When the date of the action moment of a contract is reached, the contract owner receives a notification, and the contract must be reviewed. This review involves determining whether the contract should be renewed or terminated.

Please note! Performing this action does not actually terminate or renew the contract. It only assesses which action should be taken. Depending on the settings of your Spend Cloud environment, the chosen action may need to be executed by the contract owner and/or contract administration, or a specific employee may be designated. One of these will ultimately terminate or renew the contract.

Reviewing a Contract

As a contract owner, you can review the contract by following these steps:

1. Check all the details and scroll to the yellow mark in the contract period.
2. In the yellow mark, indicate whether you want to continue the contract or terminate it. If you continue an indefinite-term contract, check the filled-in action moment and update it to the new action moment. For a fixed-term contract, this step is not necessary, as a new contract period will be created when renewing. If you choose to terminate the contract, you must specify the termination reason, and the contract will be marked as 'To be terminated.' You can also temporarily suspend the contract by providing a reason and executing the action later.
3. If you want to add a file and/or comments, you can check these options. You can add them in the next step.
4. Click 'Save.' For an indefinite-term contract that is continued, this action is completed. For fixed-term renewals and contract terminations, the executor will receive a notification email. This email will indicate that the contract with the action 'To be renewed' or 'To be terminated' has been assigned and needs to be executed.

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