Create an option record representing the contractual right to buy.
Field | Value |
---|---|
Option Type | OPTION TO BUY |
Date Exercising Applicable | Enter the date the buy-out option will be executed and the cost of the option will be paid. |
Is reasonably certain? |
Yes If an option "is reasonably certain" to be exercised, mark it as such. If you change an option, and the lease is already has a workflow status of "Submitted for Approval" or "Approved", then the Lease Classification Wizard will capture your comments on the change for the audit log, log the change, and flag the lease for Re-evaluation. |
Cost - Estimated | Enter the estimated cost of the option. Since this is a one-time cost, you can record it in the Options record. See Concept: Lease Costs and Option Costs. |
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