Why is a contract closing as over limit?

The contract was closed. It may have been closed because the Used Quantity/Used Amount exceeded the Maximum Quantity/Maximum Amount on the Pricing Terms. To correct this, amend the contract workspace and update the contract terms to adjust the Maximum Quantity/Amount. Once done, the workspace and terms can be published and the contract can move forward.

Another potential reason for a workspace to close early is if the Amount Available on the contract Summary (header) has been exhausted. If a closure like these occur, you will see in the contract and the contract workspace that time stamp of the limit/amount being reached corresponds with when the contract workspace closes in the history tab.

Stop a contract from closing once it reaches it's limit by enabling the functionality discussed here: When the funds on a contract compliance document are fully used up, the contract closes automatically

To set an unlimited amount or quantity, erase all values from the field and leave it as null/blank. Do not use '0', this will result in an automatic closure.

Purchasing
Strategic Contracts