Contracts are essentials for all transactions and as regulations are becoming more and more stringent, governance is becoming a key success factor for enterprises. When you have a lot of contracts it is hard to manage, contracts are tacitly extended without any consultation. This is especially painful if the partnership wasn’t particularly successful, but also if you wish to extend the cooperation.The expiration date of a contract is the ideal time to review the current contract with the supplier. Usually, both parties benefit from an extension.