Contract records have a status to indicate where the record is in a contract life cycle. Because contract records have statuses, you can create Workflow processes for contracts to manage approvals, expirations, renewals, and so forth. When you create a new contract, the Status field is set to DRAFT.
| Status | Description |
|---|---|
| APPR | The contract record is approved. From this status, you can change the record status to CAN, CLOSE, SUSPND, EXPIRED. |
| CAN | The contract record is canceled or terminated. You cannot modify a contract record that has this status value. |
| CLOSE | The contract record is closed and all its terms and conditions are met. You cannot modify a contract record that has this status value. |
| 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 the record status to WAPPR, APPR, CLOSE or CAN. |
| EXPIRED | The contract record is expired. The end date for the contract has passed. You cannot modify a contract record that has this status value. You can change the status from expire to pending revision by revising the expired contract. |
| PNDREV | The contract is a revised version of an existing contract. This status is similar to the draft status, but you can only edit specified fields. |
| REVISED | The contract record is revised. A REVISED status value is assigned to a revised contract that you have approved. You cannot modify anything on this contract record or change its status. |
| SUSPND | The contract record is suspended. You cannot modify anything on the contract except to change its status to APPR, CAN, or CLOSE. |
| WAPPR | The contract record is waiting for approval. You can modify the record and change the status to DRAFT, APPR, CLOSE or CAN. |
| WSTART | The contract record is waiting to start. This status value is assigned to the record when its start date is set for the future. You can change the record status value to APPR. |