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A reservation is made for an item type and a date. Once the account holder picks up the item and borrows it on that date

A reservation is made for an item type and a date. Once the account holder picks up the item and borrows it on that date the reservation is fulfilled; the account holder is expected to return the item at the end of the day, and the reservation is removed from the system once the item is returned.
If the item is not picked up at any time during the day the reservation was made for, then at the end of the day the reservation is removed from the system.
The account holder can ask for an extension, during the day of borrowing the item; if the extension is possible the item can be kept for an extra day.
If the account holder does not return the item at the end of the day (or extra day in case of an extension) the reservation is considered under investigation and a warning will be issued to the account holder. Once the investigation is concluded, or the item is returned, the reservation is removed from the system.
At any time, before the that date the reservation can be cancelled.

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