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Requesting a Payoff Quote

Who is this applicable to?
 Portal Administrator, Portal User, Super User

Every approved lease in the system must, eventually, be terminated; this termination process is handled through the Payoff module. While a majority of the terminations happen on or after maturity, it is also possible to process the termination of a lease before it reaches its full term.

You may choose to return the assets in your possession and initiate a Payoff request on your own. To facilitate this, the Customer Portal allows you to create a Payoff request. You can do this via any one of the following ways:

You can use the Quick Actions menu from the top right corner to navigate directly to create a Payoff Quote.

  1. Click Quick Actions > Request Payoff Quote.
  2. In the Payoff Request page that opens, select the Contract for which you want to create a Payoff Quote and click on the bottom right.

  1. From the main menu header, navigate to Contracts > Payoff Quotes and click from the bottom of the screen.
  2. In the Payoff Request page that opens, select the Contract for which you want to create a Payoff Quote and click on the bottom right.
  1. From the main menu header, navigate to Contracts > Contracts.
  2. Click corresponding to the contract for which you want to create a Payoff Quote, and select Contract Details.
  3. In the Contract Details window that opens on the right, click
  4. In the Payoff Quotes page that opens, you can view all the previously created quotes and/or click
  5. The Payoff Request page that opens will already have the Contract # selected. You can choose to continue with the same contract, or select a different one and click on the bottom right.

Depending on whether you want to create a payoff quote for a lease or paydown quote for a loan, select any one of the following:

Following either of the above methods, once you reach the Payoff Request page, you can view all the selected contract’s details under the Contract Summary section.

  1. You can either choose the Payment # or select the Payoff at Inception checkbox to payoff at inception.
  2. Select the Assets for which you want to create the payoff quote. You can also use the Select all option if you want to select all the available assets.
  1. With all details filled in, click on the bottom right corner.
  2. Under Payoff Request Summary, review the payoff details entered.
  3. From the dropdown list, select the Payoff type.
  1. Click to create the payoff quote.

Upon successfully creating a payoff quote, you’ll receive the following success message:

From here, now you can choose to go to contracts by clicking or go to home page by clicking .

Following either of the above methods, once you reach the Payoff Request page, you can view all the selected contract’s details under the Contract Summary section.

  1. From the dropdown list, select the Payoff type.
  2. Click to select the Effective Date of payoff.
  3. Select the Assets for which you want to create the payoff quote. You can also use the Select all option if you want to select all the available assets.
  1. With all details filled in, click
  2. Under Payoff Request Summary, review the payoff details entered.
  1. Click to create the payoff quote.

Upon successfully creating a payoff quote, you’ll receive a success message.

From here, now you can choose to go to contracts by clicking or go to home page by clicking .

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