Contract Adjustment 

Use

You can use this function to adjust the lease installment payment in a current lease, which enables you to change the financing and the payment schedule. If you have to adjust the payment schedule because a date (for example, the lease start date) or the net price was entered incorrectly, the system creates a new payment schedule and a new billing plan. You do not change the lease term or the contract data.

The net price of the financed product was entered incorrectly when the lease was created. Therefore, the lessor has to adjust the payment schedule in the lease.

You make this change at item level, which means that it applies to individual contract items. You can make this change manually only by choosing Actions; you cannot make this change as an option.

Prerequisites

You have a new, active lease with the status Released and Lease, and you have not yet executed any change processes for this lease.

 

Activities

If you want to execute a contract adjustment:

●      Cancel the relevant contract by choosing the action Cancel Complete Document. The document is given the status Completed.

●      Copy the contract and change the relevant conditions. You now edit the new version of the contract as if it were a new lease contract.

●      Incept the contract by choosing the action Business Transaction Header Activation.