Begin the lease-end process for an expiring enterprise asset lease contract

  • Release version: Yokohama
  • Updated January 30, 2025
  • 1 minute to read

    • Initiate the lease-end process for an expiring enterprise asset lease contract so that you can return the associated enterprise asset, buy out the associated enterprise asset, or extend the lease contract.

    Before you begin

    Important:
    You can begin the lease-end process only for active lease contracts that are expiring within 90 days but do not have a Substate of Expiring. A Substate of Expiring indicates that the lease-end process for that contract has already begun.

    Role required: sn_eam.enterprise_admin or sn_eam.enterprise_asset_manager

    Procedure

    1. From the Enterprise Asset Workspace, open the Contract and lease management view.
    2. On the Lease contracts tab, select the lease contract for the enterprise asset that you want to return, buy out, or extend the contract for.
      The lease contract record opens.
    3. On the lease contract record header, select Begin lease-end process.
    4. When prompted to confirm that you want to begin the lease-end process for the contract, select OK.

    Result

    The lease-end process for the specified lease contract begins. The Enterprise Asset Management application then automatically generates a Planning task for the lease contract.

    What to do next

    Complete the Planning task for the lease contract so that you can specify what action you want to take on either the associated enterprise asset or the lease contract itself. See Complete the Planning task for an expiring enterprise asset lease contract for detailed instructions.