When you renew an agreement, the Renew action creates a new agreement, which is executed after the agreement's terms are updated. You can identify contract renewal candidates, allowing plenty of time to act and create new contract drafts based on the previous contract.
To renew an agreement
Go to the Agreements tab and select an existing agreement record.
Click the Renew action button and review the information it presents. Click Continue.
Click Save. The renewal agreement record is created. The agreement number is appended with a number and the agreement name is appended with “Renewed.” The values in the Status Category and Status fields are updated to Request and In Renewal.
When you renew an agreement, the notes of the parent agreement are copied to the new agreement.
