Contract lifecycle
Use the contract status and status reasons to track the contract throughout its life.
A status can have one of the following status values:
- Draft — Before the contract start date, the contract has a Draft status. You can reset a canceled contract to Draft status.
- Executed — At the contract start date, the contract status is set to Executed.
- Historical — When an executed contract expires or is canceled, its status is set to Historical.
- Delete — Use this status to flag contract records for deletion.
Contract status reasons
Status reason provides additional information, as listed in the following table:
Status | Status reason | Description of the status reason |
|---|---|---|
Draft
| In negotiation | The contract is under negotiation. |
Pending Signature | Negotiations and reviews are completed, but the contract is not signed. | |
Executed
| Active | This status is the default value for executed contracts. |
Requires Attention | There is no activity on the contract for the configured amount of time. | |
Under re-negotiation | A contract is being renegotiated, or a possible change is pending. | |
Change Pending | A change in the contract is pending. | |
On Hold | No activity is allowed on this contract until the status reason is changed. | |
Historical
| Expired | When a contract reaches the expiry date, its status is set to Historical, and the status reason is set to Expired. |
Terminated | The contract was terminated at the expiry date. | |
Cancelled | The contract was terminated before the expiry date. | |
Delete | Scheduled for Deletion | The contract record is scheduled for deletion and can be removed. |