CONTRACT LIFECYCLE MANAGEMENT WORKFLOW

Created by ChecklistGuro (https://checklistguro.com)

[ ] Retrieve Contract Request: Fetch the initial contract request details and metadata from the Contract Request data model.
[ ] Legal Review Task: Create a task for the Legal Department to review the terms and conditions of the retrieved contract.
[ ] Update Contract Status to 'In Review': Update the status field of the contract entry to reflect that it is currently undergoing legal scrutiny.
[ ] Get Counterparty Details: Retrieve information about the external party/vendor from the Vendor/Counterparty data model.
[ ] Calculate Total Contract Value (TCV): Calculate the total value of the contract by summing all line-item costs and taxes defined in the contract details.
[ ] Aggregate Total Spend per Vendor: Sum the values of all existing contracts associated with this specific vendor to check against budget limits.
[ ] Financial Approval Task: Create a task for the Finance Manager to approve the calculated Total Contract Value.
[ ] Update Contract Status to 'Awaiting Signature': Once approved, update the contract record status to indicate it is ready for execution.
[ ] Send Signature Request: Send an automated email to the counterparty with instructions and links to the signature platform.
[ ] Check Signature Status: Retrieve the latest status of the digital signature from the external e-signature integration.
[ ] Finalize Contract Record: Update the contract entry with the final execution date and the link to the signed PDF.
[ ] Create Obligation Entry: Create a new entry in the Obligations data model based on the key milestones found in the contract.
[ ] Notify Stakeholders: Send a notification email to all internal stakeholders (Sales, Legal, Finance) that the contract is now 'Active'.
[ ] Generate Monthly Contract Summary: Generate a report summarizing all newly executed contracts and their total value for the current month.
[ ] Archive Old Contract Task: Create a periodic task to move expired contracts from the active model to the archive model.
[ ] Remove Draft Entries: Delete any incomplete or abandoned contract draft entries from the system to maintain data hygiene.

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