What is the difference between renew and extend in contracts?

[Richard Knight]

Version: Kingston

Module: Contract Management

What is the difference between extending the contract and renewing contracts in SerivceNow?

Our process is really simple, prior to a contract expiring we request a renewal quote, perform the purchase, and outr contract is renewed for another year.

The term dates are changed to reflect the new term.

[rajmasurkar · Accepted solution]

Hi Richard,

As far as my knowledge goes, the difference is Renewal/Extension Date.

The value in this field is applicable only for Contracts to be renewed. i.e. You can set a date later than the 'Ends' date field value.

Where as if you want to extend the contract, you do not need to populate this field. And the contract gets extended immidiately after 'Ends' date field value, provided it has already been approved.

Raj

[Richard Knight]

Thank you for the clarification! Much appreciated!!

[rajmasurkar]

No Problem 🙂

Raj