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Administrator Guide
Last Updated: 2023-06-23
Example: Supplier Contract Renewals

Example: Supplier Contract Renewals

This example explains how to set up a supplier contract to renew automatically.
Global Modern Services creates a supplier contract for coffee delivery and equipment servicing with Supreme Coffee Service. The contract includes these terms:
  • A 1-year initial supplier contract starting January 1 and ending December 31.
  • An automatic annual renewal clause, with a 30-day renewal notice period.
  • Renewal terms of the initial 1-year term, a renewal term, and a 1-month cancellation or renegotiation notice period.
  • Create a supplier contract type with the
    Renewal Terms
     option.
  • Security:
    Process: Supplier Contracts
     domain in the Supplier Contracts functional area.
  1. Access the
    Create Supplier Contract
     task to create the initial supplier contract with renewal terms for Supreme Coffee Service.
  2. In the
    Renewal Terms
     section, specify:
    Option Description
    Automatically Renew
    Select to activate automatic renewal term options.
    Send Expiration Notification
    Select to provide the supplier contract specialist advanced email notices of the 30-day notification period required in your supplier agreement.
    Notice Period
    Specify
    30
    .
    Notice Period Frequency
    Select
    Days
    .
    Renewal Term
    Specify
    1
     for the 1-year renewal term based on the agreement with your supplier.
    Renewal Term Frequency
    Select
    Years
    .
  3. Include goods lines for products and services and include renewal details:
    • Renewal Amount
      .
    • Renewal Quantity
      .
    • The line
      End Date
      .
  4. Access the
    Schedule Supplier Contract Expiration Notification
     task to process supplier contract automatic expiration notifications for the contract specialist before the contract end date.
  5. Access the
    Schedule Supplier Contracts Renewal
     task to schedule renewal job processing.
Workday creates the amendment for the supplier contract renewal using the parameters you defined.