1. Lease Servicing User Guide
  2. Appendix : Transaction Parameters
  3. Nonmonetary Transactions
  4. Lease Early Termination
  5. Check Early Termination

A.2.25.1 Check Early Termination

Before terminating a lease contract, you can check if the account is eligible for early termination and if eligible, the amount that has to be paid for early termination by posting the Check Early Termination Allowed transaction. When early termination is not allowed and termination transaction is posted, system displays an error on validation indicating Minimum criteria for early termination is not met.

Table A-114 To check for early termination

Transaction Parameters
CHECK EARLY TERMINATION ALLOWED TXN DATE (Current or future date)
On successful posting of the transaction, the Result section indicates if early termination is allowed or not.
  • If allowed, the amount to be paid for early termination is indicated. For Rent Factor method, it is the Lease Receivable Amount and for Interest Rate Method, it is the Lease Receivable Amount + Interest/Rent Amount.
  • If disallowed, the reason for the same is indicated.

Parent topic: Lease Early Termination