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Contracts

End of Contract Process

View the 'situations' below to determine the correct 'end of contract' procedure to use:

Internal Rental Contract

  • Machine still belongs to the company:
    • End of Internal Rental Contract

Service / Bank Rental Contract

  • Machine was sold ('invoiced') to the customer, either directly or via a finance house; or was initially the customer's property.
    • Close: When closing the contract - you have the option to just close the contract (machine remains customer's property)
    • Close and then Buy Back: When closing the contract, you can then follow the process to buy back the machine (either at a R0.01 if the machine becomes the company's property, or at the settlement value to the finance house).
    • Close and then Buy Back and then link the machine to the next New Deal Sale or Rental Contract
    Note: Contracts cannot be re-instated if they have been 'Closed'.