This activity is used to cancel a valuation that is no longer valid.
When you are processing a valuation, changes to the valuation may be required. For instance, the valuation amounts may be wrong or the terms/contents of the contract may have changed. In such instances, it is possible to cancel the valuation and create a new valuation based on an updated version of the contract.
If you need to modify a valuation that is in the Certification In Progress status, it is not needed to cancel the valuation. Instead, you can cancel the approval of the certificate. When you cancel the approval of a certificate, the status of the valuation is reset to Planned or Application Received. When the status of the valuation is reset to Planned, it is possible to refresh the contract details instead of canceling the valuation.
Note: It is not possible to update a valuation that has been cancelled.