When a contract is expiring, a business should review its current supply price and terms, check what the supplier is offering for renewal, and compare other options before deciding — rather than letting the contract auto-renew by default. See what to check before renewing for the full review checklist.
Don't wait until the last minute. Your contract expiration date gives you a reason to review your current arrangement and see what alternatives may be available.
Start with three questions:
What am I paying now?
Review your current supply price and contract.
What is my supplier offering for the next term?
Don't assume the renewal offer is your only option.
What else is available?
If competitive supply is available, compare other offers before making a decision.
You may decide to renew, switch suppliers, or wait. The important thing is to make the decision intentionally rather than simply allowing the next contract to happen. If you're not able to act before it lapses, see what happens if it expires.