After all contract details have been entered, you can submit the contract for approval with the appropriate contract documents attached. The system automatically runs the validation process when a contract is submitted for approval. For more information, see Validating Contracts. You can add approvers for each contract from the Manage Approvers action in the update contract page. The approver can provide comments on an approved or a rejected contract. Based on the Approvals Manager setup, the contract is submitted for approval to multiple approvers in parallel or in sequence. If any approver, in a sequential approval flow, rejects the request for approval, the remaining approvers in the flow will not receive the request for approval notification.
You can cancel the approval process, if the contract is in the Pending Approval status. For more information, see the Cancelling Approval Process section.
Contract approvers should be set up based on a set of rules configured in Oracle Approvals Manager. Optionally, set up the system for sequential or parallel approvals.
Create a new contract or search and open the contract you want to submit for approval. The contract must be in the Draft or Rejected status.
Select the Submit for Approval action.
If the Validation process does not identify any error or warning condition, the system submits the contract for approval. It is recommended that you correct both error and warning conditions. However, you can ignore all warning conditions and click Continue to complete the Approval process. You must correct all error conditions prior to submitting the contract for approval.
If applicable, each approver receives a notification with the contract details, the legally binding contract documents, and an approval abstract. The approver can approve or reject the contract, and send comments to the submitter.
The submitter can receive notifications about the progress of the approval process and its status (approved or rejected). If the contract is approved, it can then be signed. If it is rejected, it can be resubmitted for approval or cancelled.