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Closing a Contract

Closing a contract is one of the workflow actions that you can perform on a contract document. When a contract is closed, this indicates that all of scheduled work and materials have been delivered, and that the contract's administration work and payments are complete.

Proliance reports and calculations will still use numbers from a closed contract, but you can no longer select the contract when working on any other workspace documents.

The following conditions must be met before you can successfully close a contract:

• The contract is fully invoiced. This means that the invoiced amounts for the contract is equal to the Scheduled Amount of all the line items on the Schedule of Values page.
• All retainage has been released from the invoices. You can tell retainage has been released when To Date Retainage Total Amt = 0 on the Line Items page of an invoice.
• All change orders for the contract must be in the Approved state and are included in invoices, or they must be in the Canceled state.
• All invoices against the contract must be in one of the following states: Approved, Released for Payment, or Canceled.

You cannot close a contract if it is being used as a target contract in an open cost event line item.

When a contract is closed, you cannot edit its change orders or invoices, nor create new change orders or invoices. However, you can still make payments against the invoices.

You can reopen a Closed contract, or reset it to the Draft state.