After a contract is activated and brought into effect (Status | Status Category = Activated | In Effect), you can take further actions necessary to keep the contract up to date. The following post-contract lifecycle actions are available for an activated contract.
Action
Description
Status Category | Status of Original Contract
Status Category | Status of New Contract
Clone
Cloning contracts is a simple and effective way to create look-alike agreements with similar fields in both new and cloned contracts, however, cloned contracts can have different information. The cloned contracts inherit fields from the original contracts.
After you clone a contract, the new contract name is appended with "Clone".
NA
Request | Request
Amend
During the term of the contract, you may need to modify the contract; for example, its language or terms.To do this, use the Amend action, which creates a new version of the contract record.All the data from the original version is copied into the new version. The new version can then go through the contract life cycle.
After you amend a contract, the new contract name is appended with "Amended". The Record Type, Contract Start Date, and Account are inherited from the original contract.
All actions in the original contract are hidden. An email notification regarding contract amendment is sent to the primary contact and logged-in user.
In Effect | Being Amended
When the new contract is activated, the Status | Status Category updates to Amended | Superseded.
Request | In Amendment
Renew
Towards the end of the contract term, you may want to renew the contract. In such a scenario, the Renew action creates a new contract version. The contract can then be executed after the terms of the contract have been updated. You can quickly identify contract renewal candidates, allowing plenty of time to act and create new contract drafts based on the previous contract.
Before you renew a contract, ensure the contract End Date is not set to a future date.
After you renew a contract, the new contract name is appended with "Renewed". The Record Type and Account are inherited from the original contract. The Contract Start Date is set to the day after the original contract end date.
All actions in the original contract are hidden. An email notification regarding contract renewal is sent to the primary contact and logged-in user.
In Effect | Being Renewed
When the new contract is activated, the Status | Status Category updates to Renewed | Superseded.
Request | In Renewal
Terminate
Use the Terminate action to end a contract. After you terminate a contract, all actions in that contract arehidden.Conga CLM emails a contract expiration notification to the primary contact and logged-in user.
Terminated | Terminated
NA
Expire
After the contract term ends, use the Expire action to mark the contract as expired. After you expire a contract, all actions in that contract arehidden.Conga CLM emails a contract expiration notification to the primary contact and logged-in user.
Expired | Expired
NA
Cancel
Use the Cancel action to cancel a contract. After you cancel a contract, you are taken to the Contract Details page, and the Primary Contact and Owner of the contract receive a contract cancelation email notification.
The cancel option is only available till the contract is activated.
