Early Return / Contract Termination

Termination options are used to be able to invoice penalty payments in case of an early return of specific rent objects or in case of the cancellation of the whole rent contract because, for example, an external machine had to be rented for this rent contract.

This chapter is divided into the following sections:

Setting up Termination Options
Adding Termination Options to a Rent Contract

Setting up Termination Options

In order to use the Early Return and Contract Termination termination options in rent contracts, you first must set up the following:

create a rent revenue item for this termination option
create an additional revenue for this termination option
deposit the termination option in a rent class
set up the 'Early Return' termination option
set up the 'Contract Termination' termination option

These steps will be described in the following sections.

Creating a Rent Revenue Item for a Termination Option

Use the quick search (ALT+Q) to find the Rent Revenue Items page.
Create a revenue item for the Termination revenue type. For more information on creating revenue items, click here.

If there already is a rent revenue item for the Termination revenue type, skip this step and continue here with the following section.

Creating an Additional Revenue for a Termination Option

Note

In order to create an additional revenue for the Termination price type, you first must create a rent revenue item.

Use the quick search (ALT+Q) to find the Rent Contract Additional Revenue Setup page.
Create one or more additional revenues for the Termination price type. For more information on creating additional revenues, click here.

Depositing a Termination Option in a Rent Class

Use the quick search (ALT+Q) to find the Rent Classes page.
Open an existing rent class or create a new one.
Navigate to the Price Lines FastTab.
Select the Termination option in the Price Type column.
In the **Revenue Item No.**column, select the revenue item created in the Creating a Rent Revenue Item for a Termination Option section.
Optional Select a termination option code in the Termination Option Code column. The creation of this termination option is described in the Setting up the 'Early Return' Termination Option section.
For more information on adding additional costs in rent classes, click here.

Tip

For a rent class specific price for an early return, you can also deposit a price code with the Termination revenue type in the rent class.
For more information on working with price codes, click here.

Setting up the 'Early Return' Termination Option

To set up the Early Return termination option, please proceed as follows:

Use the quick search (ALT+Q) to find the Rent Contract Termination Options page.

Note

The termination options created on the Rent Contract Termination Options page are used globally and are not contract-specific. This means that they can be used as a template for contract-specific termination options.
You can find more information on creating contract-specific termination options here. These created termination options can then be used in this rent contract only.

Enter a unique code for the termination option in the Code column. This is used for the later selection of the termination option.
In the Description column, enter a significant description for the termination option.
In the Type column, select the Early Return option. Please note that this will make the Invoice Type and Amount or Percentage columns non-editable.
The additional Lines FastTab is displayed. Here you can further specify the amount that has to be paid in case of an early return.
Select between the Fixed Amount or Percentage options in the Invoice Type column.
In the Amount or Percentage column, either enter a fixed amount or a percentage of the contract value which the customer has to pay.
In the Return Date Formula column, enter a date formula which will calculate the earliest return date either based on the Delivery and Return Date or the Rent Start and End Date. This date is set in the Adding Termination Options to a Rent Contract step.

Note

Example for the return date formula:
'1W' = If the rent object is returned within a week after either the Delivery and Return Date or the Rent Start and End Date, the defined amount will be invoiced.
'1M' = If the rent object is returned within a month after either the Delivery and Return Date or the Rent Start and End Date, the defined amount will be invoiced.
If no further formulas are specified, no amount will be invoiced if a rent object is returned more than a month after either the Delivery and Return Date or the Rent Start and End Date.
You can furthermore use the formulas 'D' (Day),'WD' (Week Day), 'Q' (Quarter) or 'Y' (Year) for this column.

Setting up the 'Contract Termination' Termination Option

To set up the Contract Termination termination option, please proceed as follows:

Use the quick search (ALT+Q) to find the Rent Contract Termination Options page.

Note

Enter a unique code for the termination option in the Code column. This is used for the later selection of the termination option.
In the Description column, enter a significant description for the termination option.
In the Type column, select the Cancellation option.
Select between the Fixed Amount or Percentage options in the Invoice Type column.
In the Amount or Percentage column, either enter a fixed amount or a percentage of the contract value which the customer has to pay.

Adding Termination Options to a Rent Contract

Once you have made all the necessary setups for using the termination options, you can now use them in the processing of a rent contract. To do so, please proceed as follows:

Note

If termination options are created specifically for a rent contract, all rent objects from this rent contract have to be returned early in order for the penalty payment to be invoiced. If termination options were deposited directly in a rent class which is then added to a rent contract, the penalty payment will then be invoiced once only this rent class is returned.

Open a rent contract.
Add a rent class to a rent contract that contains a termination line.

Note

Alternatively, you can also add a termination line to a rent contract as a general additional revenue. To do this, click Functions > Add General Additional Revenue in the Lines FastTab and select the respective line from the list. For more information on adding additional revenues, click here.

Note

Please note that the Contract Termination termination option can only be added to a rent contract as a general additional revenue. It cannot be assigned to a rent class line. For more information on adding additional revenues, click here.

Click in the Termination Option Code column in the Lines FastTab. Alternatively, mark the termination line and select Manage > Termination Options from the menu bar of the Lines FastTab.
The Termination Option page is displayed. This page shows the termination options that were created for this rent contract.
Please fill in the columns on this page as described in the Setting up the 'Early Return' Termination Option or Setting up the 'Contract Termination' Termination Option chapters. Please note that selecting the Early Return option will make the Invoice Type and Amount or Percentage columns non-editable. These are defined in the displayed Lines FastTab. This is described later in this section.
Optional To use the global termination options that were set up on the Rent Contract Termination Options page, click on the three dots in the menu bar of the Termination Option window and select Copy. The Rent Contract Termination Options page is displayed. Select the desired line from the list and confirm your selection with OK. The line is copied into the termination options of the rent contract. After that you can edit this line.
If you select a line of the Early Return type, the Lines FastTab is displayed. Here you can further specify the amount that has to be paid.
Select between the Fixed Amount or Percentage options in the Invoice Type column.
In the Calculation Option column, select if the Delivery and Return Date or the Rent Start and End Date shall be used for calculating the earliest date.

Tip

On the TRASER Rent Setup page, you can select in the Termination Early Return Option field of the Contract Settings FastTab if the Delivery and Return Date or the Rent Start and End Date should be used by default for calculating the earliest date.

Optional In the Earliest Return Date column, select the earliest date up to which a penalty payment will be invoiced when a rent object is returned before this date. This date can either be defined manually or calculated by using the date formula and the Delivery and Return Date or the Rent Start and End Date.
In the Return Date Formula column, enter a date formula which will calculate the earliest return date either based on the Delivery and Return Date or the Rent Start and End Date, depending on your selection in the Calculation Option field.

Note

In the Amount or Percentage column, either enter a fixed amount or a percentage of the contract value which the customer has to pay.
Select the desired lines and confirm your selection with OK.
Process the rent contract as usual.

Note

If the booking of the rent contract is concluded, you can use the Documents > Open End Of Contract Lines option in the menu bar of the Invoice Plan to retroactively adjust the penalty amounts to be invoiced.