How to set Actions at the Failed Approval stage?

If the approver has rejected the contract, the status of the contract displayed will be Failed Approval. Once the contract has Failed Approval, you can perform the following actions to the contract record: 

1. Click the Edit button to edit any of the fields within the contract details tab. 
2. Click Send to send the contract back for approval once the necessary changes have been made. Doing this will result in the status being changed to Awaiting Approval. 
3. Click Delete to delete the contract entirely. 
4. Click the Copy button to use the current contract as a template to pre-populate the new contract record.