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Creating an RFQ to Renew a Contract

The process of renewing a contract normally starts with the issuing of the expiration notification. If you are not using expiration notification on the contract, you can simply start the renewal process at the appropriate time.

To renew a contract, simply create a renewal RFQ. The system can automatically generate the renewal RFQ as part of the expiration notification, or you can create one manually. You can also create an RFQ from a contract that has already expired. The following information is copied from the contract to the renewal RFQ:

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Buyer

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Supplier

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Title

•	Suppliers: If the current contract originated from a RFQ, the suppliers from originating RFQ are added to the renewal RFQ

•	Resources: An RFQ resource is created for each resource supplied on the contract

•	RFQ dates: The system calculates the RFQ's supply “from” and “to” dates:

•	The RFQ supply from date is set to the contract’s expiration date plus one day

•	The RFQ supply end date is calculated as the from date plus the contract’s effective period.

Once the RFQ is created, you can review and update it as required. For example, you may need to add or remove resources or bidding suppliers. Once the RFQ is ready, you can follow the normal RFQ process. After you have received and analyzed the bid, you can create a new contract for the winning supplier.

The existing contract can continue to be used until it expires. After the contract has expired, the contract’s supplier prices will no longer be valid.

This topic explains how to manually create a renewal RFQ for a contract. For more information about RFQs, see Requests for Quotation Overview.

To Create a Renewal RFQ

1.	Open the contract that you want to renew. The Contract window appears.

2.	From the Tools menu, select Create Renewal RFQ. The system creates an RFQ using the information on the contract.

3.	Open the new RFQ for review. You can find the new RFQ on either the site’s Purchasing view, RFQs tab, or the My Desk view RFQs tab.