Your summary sheets usually have the following dates and duration :

• • Signature date
  • Duration condition
  • Fixed term
  • Indefinite term
  • Renewal with agreement
  • Tacit renewal
• Effective date
• Expiration date
• Contract duration
• Notice of termination
• If the duration condition selected is tacit renewal :
  • Number of contract renewals
  • length of contract renewal
  • Terminated contract
    • Yes
    • No

These fields allow to automatically update your contract statuses depending on the information entered.

Note that these fields can sometimes differ depending on the specific settings done to your summary sheets.

To learn more about your contract statuses on DiliTrust, see the dedicated article.

In this article, we will see :

• Which duration condition should be filled in, and what are the impacts?
• How to manage a fixed-term contract?
• How to manage an open-ended contract?
• How to manage a contract with renewal with agreement?
• How to manage a contract with tacit renewal?

Which duration condition should be filled in, and what are the impacts?

The choice of the duration condition of your contract will have a major impact on the platform's subsequent processing of the dates you enter (effective date, expiration date). 

The possible duration conditions are:

• Fixed-term: if your contract has an effective date and an expiration date that is determined at the time of signing, and there is no extension of the term.

• Indefinite term: if your contract has an effective date but an unlimited term.

• Renewal under agreement : if your contract has an effective date and a renewal is foreseen in the contract, if an agreement is defined between the parties.

• Tacit renewal: if your contract has an effective date and the contract is automatically renewed on its first due date, without any action required by the parties and unless terminated in accordance with the terms of the contract.

Depending on the duration condition chosen, how the status update of your contract will change.

How to manage a fixed-term contract?

If your contract is a fixed-term, it is mandatory to inform: 

• Effective date: the one in the contract
• Expiration date: The one in the contract

The contract's status will be Pending as long as the effective date is in the past and the expiration date is in the future.

As soon as the expiration date comes, the contract's status will automatically be updated to Expired, without any action needed from you.

How to manage an indefinite term contract?

If your contract is open-ended, it is mandatory to inform:

• The effective date: the one in the contract

Note that the expiration date does not need to be completed since the contract is considered to not have one. The contract is considered Pending as long as the effective date is in the past.

If the contract is terminated or broken, you will to manually update the Expiration date, depending in the date it was terminated on so that its status will change to Expired.

How to manage a contract with renewal under agreement?

If the contract is renewed with agreement, it is mandatory to inform:

• Effective date: the one in the contract
• Expiration date: The one in the contract

The contract's status will be Pending as long as the effective date is in the past and the expiration date is in the future.

Once the expiration date reached, you will need to update DiliTrust depending on the outcome:

• If no deal has been reached to renew the contract: no action is needed, the contract's status will automatically change to Expired depending on the expiration date informed.
• If a deal has been reached to renew the contract, you will need to upload the deal as an amendment and inform the information of the amendment (new signature date, effective date, expiration date, etc.). The main contract will be considered Expired and the amendment Pending.

How to manage a contract with tacit renewal?

If your contract is automatically renewed, by informing the duration condition, the following fields will appear :

• Times of contract renewal
• Contract renewal period
• Contract ended (Yes/No)

It is mandatory to inform the following:

• Effective date: the one in the contract
• Expiration date: The one initially informed in the contract
• Contract terminated: Select "No" as long as the contract is not terminated

The contract's status will be Pending as long as the effective date is in the past and the expiration date is in the future. The expiration date filled in will have no impact, the contract will be considered Pending since it is automatically renewed.

If the contract is terminated, you will need to update the Contract ended field to yes. The status will automatically change to Terminated.

You wish to be notified that a contract is reaching its deadline? It is possible by putting alarms in place in your contracts! To learn more about it, see the dedicated article.