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Creating Contract from RFQ

Received Response
edited Mar 7, 2020 1:58PM in Sourcing 13 comments


Creating Contract from RFQ


Hi Team - I need some clarification while creating the contract from negotiation. Could you please help me with my below queries.

1) We have created an RFQ and during RFQ creation we have created a master contract note. Published the RFQ and supplier quoted against the RFQ and now closed the RFQ. We have decided which supplier to award, let's say to "ABC supplier". Now at this point when shall we create the supplier contract for ABC Supplier? is it before award approval or after award approval? 

2) At the end of the award process, we create a supplier contract and from that supplier contract, we will release the PO document in the future. So what will happen to the Master contract that we created during RFQ creation?

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