Renewing Contracts

At the end of the contract management process, it is necessary to determine if the contract relationship expires or if the contract will be renewed.
The act or process of making changes to a company in order to improve it so that it becomes more successful: The first step in devising a corporate renewal strategy is to re-evaluate your strengths and weaknesses. Contract renewal: an existing contract ends—by, for example, expiring—and the parties agree to enter into a new contract (usually for the same or very similar services).