--- sourceDocument: Asset Management sourceDocumentLink: https://www.servicenow.com/docs/r/it-asset-management Release : - brazil ft:locale : - en-US ft:publication_title : - Asset Management ft:clusterId : - itam bundleId : - itam workflow : - Technology --- # Manage your expiring contracts for leased hardware assets # Manage your expiring contracts for leased hardware assets {#ariaid-title1} Release version: Brazil Updated September 10, 2026 ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 3 minutes to read Use the lease contract expiration flow and decide on what to do before your leased hardware asset contract expires. Get notifications about the lease contracts that are nearing their expiration dates. ## Before you begin Role required: contract_manager ## About this task When a lease contract is nearing its expiration, contract administrators and business owners are notified 90, 60, and 30 days before the expiration date. Getting these notifications early can help give them enough time to act and to avoid paying a penalty. You can customize the email notifications by navigating to System NotificationiNotificationLease contract threshold breached. You can view a consolidated list of asset contracts that are expiring on the Hardware Asset Dashboard in the month, quarter, and year formats. For more information, see [Hardware Asset Dashboard](https://www.servicenow.com/docs/B05cTbmhHQoHG1Re02vFzQ#hardware-asset-management-dashboard "View the key metrics on your hardware and consumable models and assets for the entire asset life cycle in the Hardware Asset dashboard."). Note: When the Hardware Asset Management license is activated, the Renew UI button doesn't appear for active lease contracts that have assets covered. If an asset is associated with more than one lease contract, then the Lease contract field on the asset record reflects the most recently associated contract. There are readily available decision tables that you can use to customize the Lease Contract Expiration Flow, Leased Asset Buyout Flow, Leased Asset Extension Flow, and Leased Asset Return Flow. For more details, see [Hardware Asset Management flow customization](https://www.servicenow.com/docs/K_Si_PHqFCCnOOmxkzAA4A "Customize the flows in some of the Hardware Asset Management features by using the available decision tables."). With the lease contract expiration flow, the possible lease actions are buying out the leased asset, extending the lease agreement, or returning the asset or another like product. Note: For an asset covered, if the Date removed field is in the past, then the state of the asset is automatically set to Canceled and you can't take any lease actions. ## Procedure 1. Navigate to ContractContractsLeases. The Lease page opens. It shows a list of lease contracts. 2. Open the relevant active lease contract and click the Begin Lease expiration process related link. Note: The Begin Lease expiration process related link is visible only in active contracts that have at least one asset covered. You can't choose a lease action such as Buy out, return, and extend for an excluded lease asset. For more information, see [Hardware Asset Management license exclusion](https://www.servicenow.com/docs/KzdWmr_nnJsWIWtMFZUe8w "Pay only for the assets using licensed Hardware Asset Management features and exclude an asset for which you don't want to use the licensed features."). The Leased Assets related list shows all the hardware assets that are covered in the lease contract. In each asset record that is covered under the lease agreement, a Planning task is generated. The Planning task is automatically assigned to the contract administrators. 3. Under the Leased Assets related list, perform any of the following to take a lease action: * Open a record and then open the Planning task. In the Planning task, select a lease action from the Lease action list. * Open an asset. From the Asset Covered form, select a wanted lease action from the Lease action list. * On the list of assets, double-click the Lease action field of an asset and select a lease action. {#manage-your-leased-hw-asts-expiring-contract__ul_gfw_5wv_wnb} A set of tasks is created. If you select a lease action by a method other than opening the Planning task, then the state of Planning task is automatically moved to Closed. Note: By default, the Planning tasks are created only for the first 1000 assets under the contract. If you want to create Planning tasks for more than 1000 assets, then you can change the default value (1000) of the com.sn_hamp.flow.lease_contract_expiration.max_results key in the Asset Property (asset_property.list) table. Only users with the asset role can change this property. ## Result Based on your selected action, the corresponding workflow is triggered and the associated Contract Asset tasks are created. Close one task to go to the next task. ## What to do next Based on what lease action you selected, perform any of the following: * [Return your leased hardware asset](https://www.servicenow.com/docs/_pUt~9rE~27PEnV~MsZFxg "Return your hardware asset before the contract expires and avoid paying a penalty."). * [Buy out your leased hardware asset](https://www.servicenow.com/docs/ZZ4ybk3wGd~wc5ExPGW1BQ "Buy out your leased hardware asset before the contract expires and avoid paying a penalty."). * [Extend your lease contract](https://www.servicenow.com/docs/8ZI32AaQkSo~OrCKoXNDSQ "Extend your lease contract before the contract expires and avoid paying a penalty."). {#manage-your-leased-hw-asts-expiring-contract__ul_egk_vrz_d4b} * **[Return your leased hardware asset](https://www.servicenow.com/docs/_pUt~9rE~27PEnV~MsZFxg)** Return your hardware asset before the contract expires and avoid paying a penalty. * **[Buy out your leased hardware asset](https://www.servicenow.com/docs/ZZ4ybk3wGd~wc5ExPGW1BQ)** Buy out your leased hardware asset before the contract expires and avoid paying a penalty. * **[Extend your lease contract](https://www.servicenow.com/docs/8ZI32AaQkSo~OrCKoXNDSQ)** Extend your lease contract before the contract expires and avoid paying a penalty. **Related concepts** * [Manage refresh of assets using Zero Touch Refresh](https://www.servicenow.com/docs/orEvCdMB5vzR4~s6pgfX7g "Enable your employees to request hardware refreshes through an external vendor by using the Zero Touch Refresh flow on your ServiceNow instance. This process enables you to eliminate having to maintain a local inventory of new assets.") * [Reclaim hardware assets](https://www.servicenow.com/docs/XlYu0_4oHM_injgBjRBSOw "Reclaim hardware assets efficiently and store them in the inventory, reassign, send it for repair, or dispose of as required.") * [Donate assets to charity organizations](https://www.servicenow.com/docs/ia8owYVsaaWN19LI7DCBUQ "Use the Asset Donation flow to donate hardware and consumable assets of your organization to charity organizations.") * [Manage obligations in the Hardware Asset Workspace](https://www.servicenow.com/docs/0s0xx119wGL3jS9NrG7h9Q "Obligation Management in the Hardware Asset Workspace enables you to create obligation records to define specific instructions and obligation task types required to fulfill a contract obligation.") * [Manage contract repository agentic workflow in the Hardware Asset Workspace](https://www.servicenow.com/docs/z5tqOuWjohCbpaky3~OGqw "Automate contract management with the Manage contract repository agentic workflow. Extract metadata and obligations from signed contracts and set renewal or termination reminders automatically to reduce manual data entry and help legal and procurement teams maintain compliance.") **Related tasks** * [Request a Hardware Asset Refresh](https://www.servicenow.com/docs/fNYpZ0VHAAXQ0znJ0lwKCw#hardware-asset-refresh "Use the Hardware Refresh request flow to track the aged hardware assets that are nearing the end of their life cycle. Replace them with new hardware assets.") * [Create a disposal order](https://www.servicenow.com/docs/dpXqoHLw7OzHOFzaOsEcBw "Create a disposal order for hardware or consumable assets. You can create a disposal order for an asset reaching its end of life cycle or an asset that is no longer functional.") * [Calculate the active lifecycle phase for a model](https://www.servicenow.com/docs/1JTcjcP30HcJFvCSlYbYmQ "Recalculate the active life cycle phase for a hardware or consumable model without waiting for the scheduled daily job.") * [Manage asset bundles from your inventory](https://www.servicenow.com/docs/YiCo6BjAuv7qUq8VeJbibQ "Create asset bundles from existing assets in your inventory to track, reserve, or deploy a group of assets as a single entity.") *[\>]: and then