Creating New Versions Of Third-Party Agreements
The third-party agreements are set up for versioning. Thus, if you have to update the details of an approved agreement, then you must create a new version of the record.
To create a new version for a record with the Approved status, follow these steps:
Double-click the agreement record selected for updates.
Click the New Version button in the top right corner of the page.
A new version of the agreement is created, with Version Draft status, thus restarting the life-cycle.
Edit the desired fields in the Agreement tab.
Click the Save and Reload button.
If the Version Draft record is approved, then the original record transitions into the Version Closed status and the secondary version becomes the Approved currently active agreement record.
Read more details about versioning a record on the How to Version an Entity Record page.