Contract Extensions

  • Updated

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Extensions are applicable for Standalone and Subcontract but not for Head Agreement contracts. A Head Agreement contract doesn't have any duration or value stored against it and that's why both extensions and variations of price and duration are irrelevant to Head Agreement contracts.

Extensions are initially added on Contract creation, either through setup or through procurement award.

The contract record has a block summarising extensions for the Contract.

Extensions support a value to be attributed to the extension if applicable.

Workflow

Extensions are initially created with a 'Draft' status. While in Draft, Extensions will be counted in only the maximum end date for the Contract.

Extensions go through an approval process using the CORE Approvals module. Once approved the status of the extension changes to 'Exercised' which then counts the extension towards the current end date of the contract.

The extension table and the duration summary on the Contract will automatically update to reflect any changes in extension status.

Document Generation

Please see this article Document Templates (Mail Merge) for information on how to use theĀ Document GenerationĀ feature