Terminating Leasing Agreement

This document explains how you terminate a valid leasing agreement.

You terminate the agreement when the customer call to end the agreement or the agreement period has expired.

Outcome

When the Agreement is terminated

The terminated leasing agreement is used:

The following files in M3 could be affected when you terminate a leasing agreement:

Before you start

A valid agreement must exist in 'Leasing Agreement. Open' (LTS100)

Follow These Steps

  1. Enter Termination Date

    You terminate the agreement when the customer calls for a termination. The termination can occur on time, before or after the agreement's planned finish date.

    Check if the agreement is terminated earlier or later than planned finish date for termination fee respectively refunding.

    You terminate the agreement in 'Leasing Agreement. Open' (LTS100)

  2. Enter Termination Fee

    You calculate the termination fee or refunding when the time for termination deviates from the planned finish date. The fee or refunding is calculated on basis of leasing curve.

    You calculate the termination fee / refunding in 'Leasing Agreement. Display Curve' (LTS108)

    You enter the termination fee / refunding as an additional charge in 'Leasing Agreement. Connect Additional Charge' (LTS103).

  3. Check in

    You check in the rental object when it is returned from the customer. During the check in the condition of the rental object is described in detail. A service order is created if service and reparation is to be performed on the rental object.

    You check in the rental object in 'Individual Item. Check-in' (STS130).

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