Contract Management notifications are sent to contract administrators to remind them of contract expiration dates so they can renew or renegotiate the contract1.
The expire date is the most important contract date to be aware of because it indicates when the contract is no longer valid and the service or product is no longer covered2.
If a contract expires without renewal or extension, it can result in penalties, service downtime, or loss of warranty or maintenance3.
Therefore, the expire date is the most critical date for contract management and should be monitored closely. Reference:
1: Product Documentation | ServiceNow
2: Contract and renewal management - ServiceNow
3: Hardware Asset Management overview - ServiceNow - Now Support
4: Use a hardware asset request flow - ServiceNow