This article summarises the available statuses for a Contract record, detailing what each status represents in the contract lifecycle and how it affects system functionality.
Purpose
Audience: Admin, Buyer, Approver
Intent: Define and explain the purpose and system effect of each available Contract status.
Scope: Define the different contract statuses.
Key Ideas: Contract Statuses
A Contract record can be assigned one of several statuses in the Contract Management module, representing different stages of its lifecycle. Each status may offer different in-system functionality.
| Status | Description | System Behavior |
|---|---|---|
| Setup | The initial process of setting up the contract is in-progress. It involves providing high-level details, valuation, assigning roles, and approvals. |
A contract will remain in this state even if the end date elapses, only changing to expired once the setup process is finalised. |
| Draft | The contract has completed the setup process, but the start date is in the future. This may represent a signed contract with scheduled work, but terms may be altered before the start date. |
When the start date is reached, the status automatically updates to Active. The system treats it as Active for refreshing contract information. |
| Active | The contract is currently in term, having completed the setup process. |
These contracts can be viewed and updated in the Contract Management portal. The system regularly checks and refreshes information to ensure it's up-to-date. |
| Expired | The end date of the contract has elapsed, but no in-system closure process has taken place. |
The contract is no longer considered Active and will not receive automatic system updates. It may still be extended or altered by users. Applying an extension with a future end date will reset the status to Active. |
| Contract Closed | All necessary actions have been completed, and the contract has been finalised in the system, typically reaching its intended conclusion. |
It is no longer Active and will no longer receive automatic updates. |
| Terminated | The contract has intentionally ended prior to its natural completion due to a breach of terms, external conditions, or mutual agreement. |
It is no longer Active and will no longer receive automatic system updates. |
| Cancelled | The contract has been called off and will not proceed. This typically applies to contracts that never formally commenced, but can be applied to an Active contract. |
It is considered inactive and does not receive automatic updates. |
What's Next / Related
Need to know how to create a contract? Search for Contract Setup.