You can terminate contracts inside of RFX, making them inactive. This option is available under the Actions menu on either the contracts dashboard or inside the contract details page.
When you terminate a contract, you have 2 choices:
Terminate Without Notifying
Send Termination Notice
Terminate Without Notifying
If you choose to terminate without notifying the vendor, this will immediately mark the contract as Inactive, and no email will be sent to the vendor.
Send Termination Notice
If you choose to send a termination notice to the vendor, RFX will walk you through a wizard to build the appropriate documentation for termination.
Based on your selection of With Cause or Without Cause, you will be prompted for more information related to the termination. In both cases, you can either upload your own Termination Letter or let RFX build one for you. A termination letter is required before sending the termination notice to the vendor.
Cure Clause – some contracts may have a cure clause (or cure period) in them. This means that the vendor has a certain timeframe in which they can correct any issue that may cause the contract to be in breach. If you select With Cause and do not provide a Termination Letter, RFX will ask you if there is a cure clause in place. If so, you will need to provide the number of days specified in the clause.
Things to Know: If you choose to let RFX build your termination letter, make sure to click the link and verify the PDF before sending it to the vendor.
Once you click Send Termination Notice, an email will be sent to the vendor and all attached documentation will be attached in the email. The contract will then be put in Pending. You will need to go to the Pending tab and click Take Action on the termination card.
You can either cancel the termination or complete the termination. Once you complete the termination, the contract will immediately be marked as Inactive.