We are implementing Ariba Contract Management module. And we have a question around auto-renewals and how to manage them.
We have Auto Renewal contracts but do not have the information on the number of max renewals allowed. How should I set up the attributes for this auto renewal contract?
Renewal Interval (in months) = 12
Maximum number of Renewals =
Remaining Renewals =
Effective Date = 01/01/2015
Expiration Date = 12/31/2015
Is this correct? Will the system auto-renew automatically?
Follow up question: when a auto renewal contract is about to reach the expiration date (in this case 12/31/2015) this will trigger an email to the Notice Period Recipients?
As you are not sure of the number of renewals you can actually set the term type as perpetual (commonly known as evergreen), specify expiration date and set the appropriate notice period e.g. 60 (days) before you would like someone to get a notification to simply review the contract. Once you set the notice period to non "0" (Zero) value you will get the email notification for that contract before the set expiration date.
Hope this helps.