This how to renew a contract template template has 2 pages and is a MS Word file type listed under our business plan kit documents.
Renewing a Contract Standard Operation Procedure Department: Various Purpose: The purpose of this Standard Operating Procedure document is to guide you through the contract renewal process. Contract renewal is an ideal opportunity to renegotiate installments, payments, and conveyance terms, influence volume limits, increase performance, lower cost, and address issues with the past agreement. Little updates can significantly affect the quality, the amount, and the productivity of the items and the provided services. Frequency: When needed Procedure: Record all contract dates. To manage your renewal properly, take note of the renewal date, that is the date in which you must decide whether you are renewing the contract. If this date is not in the contract, look for the notice period and the 'valid until' date. For example, if the notice period is 40 days, subtract 40 days from the 'valid until date'.