Replace an Existing Vendor on an Contract (Novation)

  • Updated

Novation lets you replace an existing vendor on an contract with a different one. This task is typically used when the party responsible for fulfilling a contract changes.

Prerequisites

  • You must have the appropriate roles and permissions to modify the agreement.

Steps

  1. Navigate to the relevant contract.

  2. Initiate the Novation process (e.g., click a "Novate Agreement" button).

  3. Select the new vendor that will replace the existing one.

  4. Confirm the changes by clicking on Transfer contract.

Results / Validation

The system automatically updates the agreement with the new vendor.

What's Next / Related

  • View the history of novation records stored in the system for reporting purposes.

Notes & Limits

  • The Novation history is stored in the system.