E.5 Summary of Lease Termination Transactions Posted
Table E-2 Summary of Lease Termination Transactions
| Actions in systems during lease Termination against the specific Lease Type | Rent Factor – without Buyout | Rent Factor – with Buyout | Interest Rate – without Buyout | Interest Rate – with Buyout | Comment |
|---|---|---|---|---|---|
| Early Termination (Before Maturity Date) | Rent rebate posted – If applicable | Rent rebate posted – If applicable | Interest Accrual transaction is posted | Interest Accrual transaction is posted | - |
| Normal Termination (Post Maturity Date) | -- | -- | Interest Accrual transaction is posted | Interest Accrual transaction is posted |
User may have to post payment transaction multiple times; as Interest accrual happens after termination and no payoff quote is available to post exact payment. Residual value is included in final statement. |
| Due Date History | Payment Received flag is updated to Y (Irrespective of payment received or not) | Payment Received flag is updated to Y (Irrespective of payment received or not) | Payment Received flag is updated to Y (Irrespective of payment received or not) | Payment Received flag is updated to Y (Irrespective of payment received or not) | If Termination reversed, this flag reinstates to normal. |
| Balances (If Termination posted) | Current Balances on account would be moved to Terminate Balances. While moving the balances, system Terminates all individual balances and any outstanding dues (Lease Receivables, Rent, Fee etc) would be tracked against the consolidated balance called Termination Balance. | Current Balances on account would be moved to Terminate Balances. While moving the balances, system Terminates all individual balances and any outstanding dues (Lease Receivables, Rent, Fee etc) would be tracked against the consolidated balance called Termination Balance. | Current Balances on account would be moved to Terminate Balances. While moving the balances, system Terminates all individual balances and any outstanding dues (Lease Receivables, Rent, Fee etc) would be tracked against the consolidated balance called Termination Balance. | Current Balances on account would be moved to Terminate Balances. While moving the balances, system Terminates all individual balances and any outstanding dues (Lease Receivables, Rent, Fee etc) would be tracked against the consolidated balance called Termination Balance. | - |
| Transactions |
All balances are terminated (negated ) and specifically Inventory transaction is posted on account. Inventory = Unbilled Amt + Residual Value |
All balances are terminated (negated ) and Specifically following txns posted: Gain / Loss of Asset Terminate Depreciation Terminate Residual Terminate Interest Accrued Terminate Fee Receivable Terminate Tax Terminate Lease Receivables Gain / Loss on Asset = Sale Price - (Unbilled Amt + Residual Value) |
All balances are terminated (negated ) and specifically Inventory transaction is posted on account. Inventory = Unbilled Amt + Residual Value |
All balances are terminated (negated ) and Specifically following txns posted: Gain / Loss of Asset Terminate Depreciation Terminate Residual Gain / Loss on Asset = Sale Price - (Unbilled Amt + Residual Value) |
Gain / Loss and Inventory information is shown as Termination Txn Result. These are shown under Transaction History and not shown under Balances. |
| Balances > Current Balance | Inventory balance is not account ed in total of balances in Lease > Customer Service > Transaction History > Balances > Current Balance. (Label also read as Current Balance Total (Excluding Inventory)) | - | Inventory balance is not accounted in total of balances in Lease > Customer Service > Transaction History > Balances > Current Balance. (Label also read as Current Balance Total (Excluding Inventory)) | - | - |
| Payoff Quote | Not generated after termination | Not generated after termination | Not generated after termination | Not generated after termination | - |
| Statement | Not generated after termination | Not generated after termination | Not generated after termination | Not generated after termination | - |
| Paid off (after termination) | Pay amount in full and any excess amount can be refunded | Pay amount in full and any excess amount can be refunded | Pay amount in full and any excess amount can be refunded | Pay amount in full and any excess amount can be refunded | - |
| Charge off (after termination) |
Only allowed to post after termination All balances would be moved to Deficiency bucket. Any payment after charge off would show under Recovery bucket. Account will be closed after certain no. of days (based on system parameter) |
Only allowed to post after termination All balances would be moved to Deficiency bucket. Any payment after charge off would show under Recovery bucket. Account will be closed after certain no. of days (based on system parameter) |
Only allowed to post after termination All balances would be moved to Deficiency bucket. Any payment after charge off would show under Recovery bucket. Account will be closed after certain no. of days (based on system parameter) |
Only allowed to post after termination All balances would be moved to Deficiency bucket. Any payment after charge off would show under Recovery bucket. Account will be closed after certain no. of days (based on system parameter) |
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| Restriction on transactions after posting termination (System doesn’t allow to post these transactions, once termination is posted) |
Monetary txns: LEASE CHANGE PAYMENT AMOUNT RESCHEDULE BILL CYCLE LEASE EXTENSION EVERGREEN LEASE Non-monetary txn: ACCOUNT CONTRACT MAINTENANCE ACCOUNT PAYMENT MODE MAINTAINANCE STATEMENT PREFERENCE MODE ADD NEW ASSET andACCOUNT EVENT NOTIFICATION (Involuntary repossession)" |
Monetary txns: LEASE CHANGE PAYMENT AMOUNT RESCHEDULE BILL CYCLE LEASE EXTENSION EVERGREEN LEASE Non-monetary txn: ACCOUNT CONTRACT MAINTENANCE ACCOUNT PAYMENT MODE MAINTAINANCE STATEMENT PREFERENCE MODE ADD NEW ASSET andACCOUNT EVENT NOTIFICATION (Involuntary repossession)" |
Monetary txns: LEASE CHANGE PAYMENT AMOUNT RESCHEDULE BILL CYCLE LEASE EXTENSION EVERGREEN LEASE Non-monetary txn: ACCOUNT CONTRACT MAINTENANCE ACCOUNT PAYMENT MODE MAINTAINANCE STATEMENT PREFERENCE MODE ADD NEW ASSET andACCOUNT EVENT NOTIFICATION (Involuntary repossession)" |
Monetary txns: LEASE CHANGE PAYMENT AMOUNT RESCHEDULE BILL CYCLE LEASE EXTENSION EVERGREEN LEASE Non-monetary txn: ACCOUNT CONTRACT MAINTENANCE ACCOUNT PAYMENT MODE MAINTAINANCE STATEMENT PREFERENCE MODE ADD NEW ASSET andACCOUNT EVENT NOTIFICATION (Involuntary repossession)" |
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Parent topic: Appendix : Lease Termination / Early Termination