Contract Closeout Glossary Definition - Tradogram
Contract Closeout (also referred to as “Contract Discharge”)
Discover the process of contract closeout. Learn its importance in completing procurement agreements and fulfilling obligations.
Once all obligations and deliverables have been provided by a supplier to the buying party, the process of closing the contract is referred to as contract closeout. This process may include supplier evaluation, reporting, and closing of files associated with the contract. On Tradogram, contracts may be closed at any time when all deliverables have been received. Features such as supplier evaluation also allow a digital contract closeout workflow to be accomplished.
