Organising contracts by status and renaming Termination Letter

Organising contracts by status and renaming Termination Letter

Besides departments, are there ways to organise active and "terminated" contracts. We would like to keep a log of all the Letter of Engagements we are currently working on and have completed. 

Secondly, can we rename the Termination Letter or send a different letter template? We would like to use the termination feature mainly for completion of services, the wording for termination is a little strong and would like an alternative such as "completion" if possible. 

Thank You

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