Renewal Period

The Contract (CT) contains a Renewal Period tab that does not exist on other PO transactions. This tab allows you to record the amount of time allotted to renew the agreement with the vendor after it expires, and the number of days before the agreement expires that the buyer should be notified. Multiple lines can be added and each line can store a separate renewal period unit, renewal period length, and renewal period notification days. Effective and Expiration dates are calculated based upon the Effective Begin Date and Expiration dates on the Header.

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