There are currently 2 ways to add a new contract: New Contract and Link from Existing.
New Contract - Adding a new contract will give you two options to get started.
If you already have an executed contract or agreement, you can select the Upload option. This will allow you to enter contract information using the RFX side-by-side document viewer for easy reference.
If you do not have your document on hand, select Enter to skip the file upload process. You can always upload your contract or agreement later.
Link from Existing
If you select an existing contract to link from, information from your previous contract will be copied to the new contract. The system will also link the two contracts together, giving you a historical reference between the two contracts.
Entering Contract Information
Most of the information collected on the New Contract screen is straightforward and easy to understand. You will find info icons throughout the application that you can run your mouse over and get more detailed explanations. You will see the following tabs on the create/edit contract dialog:
Details – contract categorization and description/additional information
Vendor – the vendor currently assigned to the contract as your contact person
Financial – contract payment and financial information
Total Contract Value (TCV) will auto calculate based on your payment information along with start/end dates
Terms – contract start/end, vendor cancellation information, and auto-renewals
Documents – any documents tied to this contract with a side-by-side preview option
Recommended Fields †
No fields are technically required, but you will find fields marked with † throughout the tabs. These are highly recommended fields that help you make the most out of the RFX system. RFX will flag tabs with an exclamation icon if they are missing recommended fields.
Vendor Cancellation Notification
Under the Terms tab, you will see a Vendor Cancellation Notification field. This is important as it drives the notifications that RFX will send you as contracts are set to expire. RFX will start sending notifications to you 90 days out from the Vendor Cancellation Notification timeframe.
Example: The contract expires on September 1 and has a 60 day Vendor Cancellation Notification. That means that you must notify the vendor by July 1 whether you want to renew the contract with them. RFX will send you notifications on April 1, May 1, and June 1 (90, 60, 30 days respectively) leading up to that deadline.
Auto Renewal Clause
Under the Terms tab, you will see the Auto Renewal Clause fields. If your contract has an auto renewal clause in it, enter that information here so that RFX can notify you when you need to approve/reject an auto renewal. RFX provides tools for this process as long as you correctly enter the data in this area.
For more detailed information on Auto Renewals, see Section 5 - Auto Renewals.
Documents
The documents tab is where you will upload and track all documents related to the execution of this contract. If you are missing any of the required documents, your contract will be flagged as At Risk.
The required documents are: Contract/Agreement, Pricing, BAA, and Liability Insurance.
You can click the N/A or Included in Contract checkboxes on any of the documents, which will also clear the At Risk flag.
Things to Know: If you upload a Liability Insurance document, you can enter an expiration date. RFX will track this expiration date for you and notify you 60 days out from when the insurance is coming up for expiration.
Pending
When you save a new contract, it is immediately put into a state of Pending. The purpose behind this is so you can complete the contract entry before RFX starts tracking and notifying you of possible issues with the contract.
You can move the contract out of Pending in one of 3 areas:
Pending tab on the main Contracts dashboard
By clicking the blue Pending text under the status column on the Contracts dashboard
Inside the Pending tab on the contract details screen
You will see a Contract Pending card with a link for Take Action. If you click Take Action, you can click the button Mark As Complete and this will move the contract out of Pending and into whatever status is appropriate for the contract.