Lease Amendment

Lease Amendment is used to request a modification to an existing Lease that has significant impact on the overall terms or payments of the lease to justify amending the original lease record.

A Lease Amendment is initiated from within the original Lease record. Once initiated, a Lease Amendment record is autogenerated and routed for review and approval. Once approved, the process does two things:

The status of the original Lease record changes to “Amended”
Another Lease record is created, which contains the amended or modified data.

The newly created lease record is marked as Active, and the Amendment Number field is updated. The Primary Lease Number remains the same.

See Also