The Reverse Buy Out option allows a user to revert a contract item that was previously bought out. A reverse buyout may be for all or part of the original buyout period.
For example: A reverse Buy Out could be performed because a patron or staff member performed a Buy Out by mistake, or the current occupants changed their minds. A reverse Buy Out could also be performed for any other reason to allow the extra facility spaces to be assigned.
A Reverse Buy Out can be performed if a contract is in an Active or Preliminary state. The Reverse Buy Out changes the Assignment Limit and Asset Type (if the buyout changed the Asset Type) back to the original settings before the Buy Out occurred.
Use the following procedure to perform a reverse room Buy Out for a patron:
1. From the Patron menu, select Search for Patron and perform a search for a patron.
2. From the Patron List grid, click a row to select a patron.
3. Select the Contracts tab. The List of Patron Contracts grid displays all contracts associated with the patron.
4. Click Edit on the desired contract, and select Reverse Buy Out.
5. In the Reverse Start field, enter or select the date the reverse Buy Out will begin.
6. If necessary, check the Terminate/Replace Existing Assignments check box to end and then replace existing associated assignments. If this option is not enabled, the assignment will remain as-is and the Buy Out will be removed.
•To view or edit proration details for any current or new contract items, click Proration Details next to a contract. The Proration Details for Contract section will be displayed. The proration settings are based on the proration schedule assigned to the contract’s asset type. For more information about proration schedule settings, refer to the Proration Schedules section.
When finished editing proration settings, click OK.
•To view a new contract item’s linked charge schedule, click Charge Schedules. The Linked Charge Schedules table will be displayed.
o To add a charge schedule to the new contract, click Add New Charge Schedule.
o When finished with adding or removing charge schedules, click Update.
Note: A user will be able to add or remove a charge schedule during the Reverse Buy Out process even though the new contract item will be in an Active state. This change is allowed because the contract item is being created and configured. Typically, a user would not be able to add or delete a charge schedule when a contract item is in an Active state
7. Click Save. A new contract will be created in place of the previous contract.