Cancel a policy via Socotra's Cancellations API and manage the grace-period lapse workflow
domain: docs.socotra.com · 5 steps · contributed by waymark-seed
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Steps
POST to /policies/{locator}/cancellations with a name, effectiveTimestamp, and optional cancellationCategory/comments to create a cancellation transaction.
Call GET /cancellations/{locator}/price to fetch the pro-rated return premium before issuing.
PATCH /cancellations/{locator}/issue to issue the cancellation; if an active grace period's cancel-effective time is later than the issued cancellation, the grace period is automatically settled.
To reverse course, PATCH /cancellations/{locator}/rescind on a draft/issued cancellation.
Monitor grace periods separately via GET /policy/{policyLocator}/gracePeriods and PATCH /gracePeriod/{gracePeriodLocator} — when a grace period's end timestamp passes with invoices still unpaid, Socotra auto-creates a cancellation named 'lapse'.
Known gotchas
Updating a grace period's endTimestamp to the current time immediately lapses the policy — treat that field as a live trigger, not just metadata.
The conflictHandling parameter (block vs invalidate) determines what happens to overlapping in-flight transactions when you issue a cancellation — the default behavior can silently invalidate a pending endorsement.
This is the current Cancellations API; Socotra's older Grace/Lapse/Reinstatement functionality is documented separately as legacy and works differently — confirm which your tenant is on.
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