Why cancel a Contract

Two main reasons for canceling a Contract:

1. Inadvertent Contract execution: If you accidentally processed a Quote, canceling the Contract from the beginning can be used to revert the Contract execution.
2. Customer goes out of business or stops paying for your service: Canceling the contract from the date of non-payment or service cut-off ensures accurate record keeping.

How to cancel a Contract in MonetizeNow

To Cancel a Contract in MonetizeNow:

1. Navigate to the relevant Contract. Select 'Cancel'.

   

2. MonetizeNow creates an Amendment Quote to record the cancellation.

3. Submit and process the Amendment to complete the Contract cancellation. Depending on your organization's settings, approvals may be required to process the cancellation.