Terminating an Agreement[edit]


= Terminating&nbsp;an Agreement =

ICM allows you to terminate executed Agreements. This is useful in business scenarios where an executed Agreement only after executing a termination Agreement for it. The Termination Agreement goes through the workflow of approval and execution processes, and then supersedes the parent Agreement Attributes including the termination date as per the configuration. Thus, the parent Agreement gets terminated on that termination date.

To terminate an Agreement:

1. '''Click''''''the ''Agreement Management ''tile on the ''Dashboard''. The ''Agreement''&nbsp;''Management ''page opens'''.'''

2. '''Search '''for the Agreement that you want to terminate, and then '''click''' the [[File:|35x27px]]icon to view the Agreement details.
<div class="note-box">'''Note: '''Refer to the '''Using ICM Advanced Search''' Quick Reference Card to search for Agreements in ''Executed'' status. You can also create a ''Status Executed'' saved search from the ''Advanced Search'' page.</div> <div class="image-green-border">&nbsp;</div> <div class="image-green-border">3. '''Click''' the ''Initiate Termination'' button. The ''Contract Type Details ''page opens.</div> 
4. '''Select''' the ''Type of Paper'' on the ''Contract Type Details ''page, and '''click''' ''Next''.
<div class="note-box">'''Note''': The ''Contract Type'' and ''Contract Type Name'' fields are auto-populated.</div> 
5.&nbsp;On the&nbsp;''Create Agreement – Termination ''page'', '''''type''' or '''select''' the ''Termination Details''.

6. '''Select''' ''Yes'' if you know the ''Termination Effective Date'', and then''s''elect the ''Termination Date''. If you do not know the ''Termination Date'', '''select''' ''No''. The ''Termination Date'' can be updated later after the Termination is executed.

7.'''Click '''''Next''.&nbsp;'''Select''' or '''upload''' a Termination letter or document.

8. '''Click '''''Create and Publish'' to create the Termination. The Termination Agreement is in ''Draft'' state.&nbsp;Complete the approval process by obtaining approvals from both, the Internal as well as the External parties. When both parties have signed the document, and the signed copy is uploaded, the Termination Agreement is in to ''Executed'' status.

9. '''Click '''the parent Agreement to open it and view the status.

10.&nbsp;'''Click''' ''Termination'' on the primary Agreement page to display a list of Termination Agreements. ICM sets up a peer-to-peer association between the parent Agreement and the Termination Agreement. This Association is displayed under the ''Termination ''Contract Type in the&nbsp;''Associations''&nbsp;tab for reference. The Agreement status is displayed as ''Terminated''. The number next to the Termination Agreement indicates the number of Associations between the Termination Agreement and the primary Agreement.
<div class="note-box">'''Note''': The parent Agreement status is decided on the selected ''Termination Date''. If the Termination Date is greater than today’s date, the parent Agreement Business is in ''Executed but Termination in Force ''status.</div> 
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'''Related Topics:'''&nbsp;[[Agreement_Details_Page|Agreement Details Page]]