Renewal Quote Contracts

Definition

Renewal quote contracts are generated from originating contracts in the following cases:

• When sales lines that are contained in a sales agreement expire.
• When an Executed or Active sales agreement expires.

Renewal of the contracts is determined by automated quote generation rules. When a contract is renewed, it is automatically assigned to an internal user who becomes the internal contact for the contract.

Properties

A renewal quote contract shares properties of the original quote contract.

The initial primary internal contact, owning organization, and contracting organization of the renewal quote contract is set by the first matching quote generation rule. You can define a different renewal party to act as the external party of the future renewal quote contract.