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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.

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