# Renewal Process

# Renewing Protection Periods

Workflow Steps:

1. Notification

   • When the lock time is approaching expiration (pause time), both owner and protector receive notifications from the Seashell website

2. Owner Decision

   • Owner must choose whether to renew or not

If Owner Chooses to Renew:

• Specify additional time period
• May need to provide updated proof of item condition
• Optionally request increased collateral

Protector Decision:

• Notified of renewal request
• Must choose to accept or reject

If Protector Accepts:

• Contract is renewed for the specified period
• Additional collateral requirements are processed

If Protector Rejects:

• Process returns to redemption path
• Owner must collect their physical item

If Owner Chooses Not to Renew:

• The process moves to redemption
• Owner must collect their physical item

Important Considerations:

• Renewal requests must be processed before the protection period ends
• Both parties must agree to renewal terms
• Changes in collateral requirements must be clearly specified