Hello,
Alfresco can be used to serve as a contract lifecycle management system. The feature you describe could be implemented with a simple metadata property and a scheduled job / automated process that looks for contracts to be renewed each day and generates the relevant notification. Of course contract lifecycle management is usually way more than that, but Alfrescos flexible architecture allows for any use case.
Basically all versions of Alfresco support your use case - some of those provided in the download section have additional modules you probably won't require. Document Management / Collaboration would be the options closest to your use case.
Regards
Axel