Contracts in Tradogram have a status that indicates their current stage in the procurement lifecycle. Here are the different status types and what they mean.

Contract Statuses Explained

• Pending Approval: This is the initial status for a contract that requires internal approval based on your company's approval rules.
• Open: Once a contract is fully approved, it is marked as Open. This is the active status where you can create purchase orders and requisitions from the contract. It will remain in this status until its expiry or termination.
• Pending Supplier Acceptance: When an Open contract is sent to a supplier for review, it will be in this status until the supplier accepts or declines it.
• Expired: After a contract has passed its expiry date, its status will be marked as Expired. An expired contract can still be renewed.
• Asked for Renewal: This status is triggered when a user initiates the renewal process for an expired contract. It sends a renewal request to the supplier. If the supplier accepts, the contract will return to an Open status.

Terminated: A contract can be manually Terminated by you or the supplier at any time. This signifies that the contract is no longer active.