Lifecycle of contracts and contract items
Overview
Use Contract Management application to completely map and document the lifecycle of your contracts. You do this by setting the status that shows the current state of processing or the legal status.
Please note, that you do not need to make use of all status values available by default. You may customize relevant status values in the settings of Contract Management application to your particular needs. However, some status values are reserved for system's business logic and cannot be deselected.
Supported status values
Contracts
| # | Status | Lifecycle Phase | Available for use by | Explanation |
|---|---|---|---|---|
| 1 | Draft | Preparation | User | Contract is in preparation: contents and details may still be incomplete. |
| 2 | Content Reviewed | User | Content of a contract was checked for correctness and completeness. | |
| 3 | Submitted | User | Contract was submitted as proposal for internal review and approval for execution. | |
| 4 | Approved | User | Contract proposal was approved | |
| 5 | Rejected | User | Contract proposal was not approved. | |
| 6 | Postponed | User | Decision about the approval of the contract proposal was postponed. | |
| 7 | Legally Reviewed | User | Approved Contract was reviewed regarding legal considerations. | |
| 8 | Requested | Requisition | User | Requisition process started. Corresponding purchase requisition items were created. |
| 9 | Executed | System only | Requisition was executed. | |
| 10 | Abandoned | System only | Requisition was abandoned and not executed. | |
| 11 | Signed | Fulfillment | User | Requisition was completed and the contract signed by all contract parties. The system will change the status immediately to either on of following values according to contract type or period : Pending, Active, Expired. |
| 12 | Pending | System only | Contract is not effective yes while effective date is in the future. (see footnote below this table) |
|
| 13 | Active | System only | Contract is effective since effective date is today or in the past and expiration date is in the future or not set (in case of purchase contract there is no expiration). (see footnote below this table) |
|
| 14 | Canceled | User | Effective contract has been canceled before expiration but is still effective (in an active state). | |
| 15 | Expired | History | System only | Contract has expired since expiration date is in the past. (see footnote below this table) |
| 16 | Litigated | User | Contract is in process of legal clarification. | |
| 17 | Reversed | User | Contract was reversed and must be considered as never signed. | |
| 18 | Deleted | User | Record of Contract was deleted but is still available in read-only mode. |
Contract items
| # | Status | Lifecycle Phase | Available for use by | Explanation |
| 1 | Inactive | Preparation | System only | Default status for new Contract Items. This status remains until corresponding contract is set to status 'Signed' or 'Deleted'. |
| 2 | Draft | User | Auxiliary status to reset status Contract Item for system's status monitoring according to period. System will instantly set status to either "Pending", "Active" or "Expired". | |
| 3 | Requested | Requisition | System only | System sets this status if Purchase Requisition Items have been created for the Contract Item. |
| 4 | Purchased | System only | System sets this status if Requisition Item has been executed by purchase system. | |
| 5 | Abandoned | System only | System sets this status if Requisition Item has not been executed by purchase system. | |
| 6 | Deficient | System only | System sets this status if Requisition Item has missing, invalid or ambiguous information that cannot be reconciled. | |
| 7 | Pending | Fulfillment | System only | Contract Item is not effective yes while effective date is in the future. (see footnote below this table) |
| 8 | Active | System only | Contract Item is effective since effective date is today or in the past and expiration date is in the future or not set (in case of purchase item there is no expiration). (see footnote below this table) |
|
| 9 | Canceled | User | Effective Contract Item has been canceled before expiration but is still effective (in an active state). | |
| 10 | Expired | History | System only | Contract Item has expired since expiration date is in the past. (see footnote below this table) |
| 11 | Litigated | User | Contract Item is in process of legal clarification. | |
| 12 | Reversed | User | Contract Item was reversed and must be considered as never been part of Contract. | |
| 13 | Deleted | User or System | Record of Contract Item was deleted but is still available in read-only mode. |
The system evaluates the status of effective Contract Items according to their period information by the activation "Contract Management - Data Batch Processing". It is recommended to schedule the execution of this activation to a time shortly after midnight for best results.