Contract Renewals

Contract renewals occur when an existing agreement between parties, such as a business and a client, is extended beyond its original end date. This process typically involves reviewing the terms, performance, and satisfaction levels, then deciding whether to continue under the same conditions, modify terms, or end the relationship. Renewals help ensure continuity of services or partnerships without interruption. They often include negotiations on pricing, scope, or other provisions, and may require formal confirmation or signatures. Essentially, contract renewal is a formal process to continue a relationship under agreed-upon terms for an additional period.