The status of a contract indicates how it can be used. When you create a new contract, the system sets the Status field to draft (DRAFT).
Before you can change a contract's status to Approved (APPR), you must specify a vendor and a start date for the contract. When you are working with purchase, lease or warranty contracts, you must authorize at least one site prior to approval.
You can cancel (CAN) or close (CLOSE) a contract only if there are no outstanding payment schedules or approved POs that reference the contract. You cannot cancel or close a master contract if any of its associated contracts are open or have pending payment scheduled for them.
You can only revise a contract when it is in approved status. For more information on revising contracts, see Contract Revisions.
The statuses for a contract are listed below:
APPR —The contract is approved. From this status, you can change the status to canceled (CAN), closed (CLOSE), suspended (SUSPND), or expired (EXPIRED).
CAN — The contract is canceled or terminated. You cannot modify anything on the contract.
CLOSE — The contract is closed. All terms and conditions are met. You cannot modify anything on the contract.
DRAFT — The contract is a draft. In this status you can edit everything according to the properties for this type of contract. From this status, you can change to Waiting on Approval (WAPPR), APPR, CLOSE or CAN.
EXPIRED — The contract is expired. The end date for the contract has passed. You cannot modify anything on a contract in this status. You can change the status from expire to pending revision by creating a revision against the expired contract.
PNDREV — The contract is a new revision of an existing contract. This is similar to draft, but you can only edit specified fields.
REVISED — The contract is revised. The system applies a Revised status when a more current revision is approved. You cannot modify anything on this contract or change the status to any other status.
SUSPND — The contract is suspended. You cannot modify anything on the contract except change the status to APPR, CAN or CLOSE.
WAPPR — The contract is waiting for approval. You can modify everything (according to properties). You can change WAPPR to DRAFT, APPR, CLOSE or CAN.
WSTART — The contract is waiting to start. The system applies this status when you choose APPR and the start date is in the future. You can change this status to APPR.