1.11.2 Renewing the contract
After you have identified the contracts close to expiry, renew the contract that needs to be extended.
- Tip
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When you extend the contract, maintain the relevant contract information by creating two sets of data (records of the expired contract and the extended contract) so that you can access the contract information of the previous contract.
- 1. Obtain the renewal information from the contact person.
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Ask the contact person of the contract vendor to send the renewal information.
- 2. Register the contract information of the contract to be extended.
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Based on the renewal information from the vendor, register the contract information of the extended contract by copying the existing contract information. In the Contracts view of the Assets module, select the relevant contract information, and then click the Edit button. In the displayed dialog box, click the Save as button.
Edit the new contract information to update the values for the items such as Contract Term, Contract Date, and Contract Status according to the extended contract.
- 3. Change the status of the expired contract.
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When the contract expiry date arrives, change Contract Status of the expired contract. In the Contracts view of the Assets module, click the Change Status button. In the displayed dialog box, select Expired.
- 4. Update the relevant assets.
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If there is any change in the contract target software license or hardware assets, update the corresponding asset information. In the Contracts view of the Assets module, select the Software Licenses tab or the Hardware Assets tab, and then edit the asset information as required.
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