CONTRACT MANAGEMENT AND RENEWAL WORKFLOW

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

[ ] Retrieve Active Contracts: Fetch all entries from the Contract Data Model where status is 'Active'.
[ ] Identify Expiring Contracts: Filter contract entries where the 'Expiration Date' is within the next 90 days.
[ ] Calculate Days Until Expiry: Calculate the difference between the current date and the contract expiration date.
[ ] Assign Contract Review Task: Create a task for the Legal Department to review terms for upcoming renewals.
[ ] Contract Review Checklist: A predefined set of steps including: 'Verify pricing', 'Check indemnity clauses', and 'Confirm service levels'.
[ ] Update Contract Status: Change the status of the contract entry to 'Under Review'.
[ ] Get Vendor Contact Info: Retrieve the email address and contact person from the Vendor Data Model linked to the contract.
[ ] Send Renewal Notice to Vendor: Send an automated email to the vendor contact notifying them of the upcoming renewal window.
[ ] Create Negotiation Task: Create a task for the Procurement Manager if the contract terms require renegotiation.
[ ] Create Renewal Draft Entry: Generate a new entry in the 'Contract Amendments' data model based on the original contract terms.
[ ] Update Contract End Date: Update the 'Expiration Date' field in the original contract entry once the renewal is signed.
[ ] Set Contract to 'Active/Renewed': Update the status of the contract to 'Active' for the new term.
[ ] Notify Stakeholders of Completion: Send an email to the Finance and Legal teams confirming the renewal is finalized.
[ ] Calculate Total Renewal Value: Sum the 'Contract Value' of all contracts successfully renewed this month.
[ ] Monthly Renewal Summary Report: Generate a report summarizing all completed renewals, total value, and upcoming expirations.

--- END OF TEMPLATE ---
Transform this text into a digital, automated, and trackable mobile app!
Visit: https://checklistguro.com/workflow-templates/facility-management/contract-management-and-renewal-workflow
(Click "Install Template" to launch your digital inspection tool immediately)