5. After-sales & Handover

Reviewing sales contract termination and settlement

Sales contract termination combines the reason for cancellation, a settlement calculation, approval, and resulting operational and financial changes.

Navigation: Launch page > After-sales & Handover > Contract termination (SOR).

Workspace overview

NetSuite Real Estate after-sales and handover populated workspace — **After-sales and handover.** This populated ownership-transfer request shows the after-sales record layout, processing status, source contract, and settlement summary. Request types follow different procedures; an In Progress settlement is not a completed refund or handover.

Before you begin

Reconcile the contract, collected amounts, outstanding installments, cheques, and authorized termination terms before reviewing the settlement.

NetSuite Real Estate — Demo termination request is pending final approval after preceding reviews; the status determines whether the settlement is complete. — Demo termination request is pending final approval after preceding reviews; the status determines whether the settlement is complete. Click the image for full size.

Procedure

Open the termination request and confirm the customer, contract, unit, reason, and current status.
Review the settlement components separately: paid amount, forfeiture or retained amount, penalties, refund, and cheques to return where applicable.
Review the approval history and identify the current decision maker. Check supporting collection, Finance, and legal reviews required by your workflow.
Review the proposed GL impact and operational effects, such as installment cancellations or unit availability changes.
After authorized approval and processing, verify actual posted transactions, refund handling, cheque returns, and the final unit status.

Result

The terminated contract has a reconciled settlement and a traceable approval and processing history.

Important

The demo request is pending CFO approval. Its GL information and proposed unit release must not be described as completed postings. Forfeiture caps, penalty rates, refund rules, and approval roles depend on the agreement and approved company policy.