Your application administrator can set up automatic default values for contract renewals. If such defaults exist, then you may not be required to enter renewal information. Check with your application administrator.
To renew the contract, you must also specify how to renew each line.

1. Renewal process

• Evergreen: Customer acceptance will not be needed for activation.
• Manual: All process steps will require a user action.
• Online: An automatic submission will be provided.
• Do Not Renew: Contract will not be renewed.

2. To specify a billing schedule for the renewed contract, select a billing profile using
the Billing Profile LOV.
Billing profiles are templates that you can use to specify simple periodic billing schedules and accounting and invoicing rules for the renewed contract. This schedule overrides any billing schedule in the contract that is being renewed.

3. You can use grace periods to extend the service that a customer receives while a renewed contract is being negotiated and approved.