Promise to Pay

4.5 Promise to Pay

This widget facilitates you to create Promise to Pay (PTP) for the promise made by the customer to pay the overdue amount on the account. You can view details of all existing active PTP for an account. Also, you can cancel any existing active PTP, if required.

If you are normal collector, you can create PTP for the tasks that are assigned to you. However, if you are supervisor, you can create PTP for the tasks that are assigned to you or the tasks that are assigned to the collectors under you.

You can create PTP in following two ways:

Quick PTP: A quick PTP facilitates you to create a PTP with minimum details to save time. You can create this PTP if the customer agrees to pay the promised amount in a single payment on a particular date.
Advanced PTP: An advanced PTP facilitates you to create a PTP in detail with a payment schedule. You can create this PTP if the customer agrees to pay the promised amount in single or multiple installments over a period of time as per a payment schedule. If you create a PTP with multiple installments, each installment with the promised date and promised amount is considered as an independent PTP and needs to be tracked separately.
Based on the configurations defined for the frequency of payments, you can create a PTP with single or multiple installments. For example, with frequency type as Ad hoc, you can create a PTP in which the promised amount is payable by the customer in a single installment. However, with frequency type as Weekly or Monthly, you can create a PTP in which the promised amount is payable by the customer in one or more installments.

Once a PTP is created, you cannot modify it. However, you can cancel an active PTP, if required. For example, you may want to cancel a PTP if it is created with incorrect details or the customer requested to cancel the PTP.

If you are normal collector, you can cancel a PTP created for the tasks that are assigned to you. However, if you are supervisor, you can cancel the PTP created for the tasks that are assigned to you or the collectors under you.

Note:

You cannot create a PTP if an active promise already exists for a particular date. If you want to create a new PTP with the same promise date, you need to cancel the existing active PTP.
You cannot cancel a PTP if payment appropriation is already done on that PTP.

Table 4-14 Field Description: Promise to Pay

Field Name	Description
Promise to Pay	This widget helps you to create PTP. It also displays details of the existing promises created on the account.
Task	Indicates the task for which PTP is created. Note: The list displays the tasks that are in In Progress and Escalated status. However, it displays only those tasks that are assigned to you. If you are a collector with supervisor role, it also displays the tasks that are assigned to the collectors under you.
Promise Type	Indicates the promise type. Note: The list displays only those promise types, which are: not associated with any segments. associated with the same segments to which the selected task is also associated. If only one promise type is applicable for the selected task based on the above rules, then that particular promise type is selected by default.
Amount	Indicates the amount that the customer has promised to pay. By default, overdue amount is displayed.
Date	Indicates the date on which customer has promised to pay the amount. Note: You cannot select a date prior to the business date. By default, business date is displayed.

If you click

, the Promise to Pay Summary section is displayed.

Table 4-15 Field Description: Promise to Pay Summary

Field Name	Description
Case ID,<Customer Name>	Displays the case ID and name of the customer.
Promise To Pay Details	This section displays the details of the promise to pay created on the account.
<Product Sub Type - Account Number>	Displays the product sub type and account number.
Overdue	Displays the overdue amount on the account.
Promise	Displays the count of promises that are broken and kept for the account in context. If you click View Details, View Promise Details section is displayed.
Create Promise(s)	This section is displayed if you click Add Promise in Promise Details section. It is used to specify details of the promise you want to create. If a promise is not yet created on the account, this section is displayed by default.
Task	Indicates the task for which PTP is created. Note: The list displays the tasks that are in In Progress and Escalated status. However, it displays only those tasks that are assigned to you. If you are a collector with supervisor role, it also displays the tasks that are assigned to the collectors under you.
Promise Type	Indicates the promise type. Note: The list displays only those promise types, which are: not associated with any segments. associated with the same segments to which the selected task is also associated. If only one promise type is applicable for the selected task based on the above rules, then that particular promise type is selected by default.
Frequency	Indicates the frequency of payment of the scheduled installments. The options are: Adhoc Quarterly Weekly Fortnightly Monthly
Scheduled Repayments	Indicates the method of calculation of promised amount for the scheduled installments. The options are: Do Not Include: If you select this option, then while simulating schedule the future repayment schedules or bills are not considered in calculation of promise amount. Include: If you select this option, the promise amount is calculated by adding the promise amount and all the scheduled installments or bills amount falling within the promise date. The scheduled installment or bill amount should apply to the nearest PTP installment date that is greater than or equal to the scheduled installment or bill date. Distribute Evenly: If you select this option, the promise amount is calculated by adding the promise amount and all the scheduled installments or bills amount falling within the PTP period. The scheduled installments or bills should be equally distributed among all the PTP installments. If you click View Schedule, View Repayment Schedule section is displayed.
Promise Amount	Indicates the amount that the customer has promised to pay. Note: By default, overdue amount is displayed.
Number of Instalments	Indicates the number of installments in which the promised amount would be paid by the customer. Note: If you select Adhoc option in Frequency field, this field displays 1 by default and you cannot modify it.
Date Of First Payment	Indicates the date of first payment. Note: You cannot select a date prior to the business date. By default, business date is displayed.
Notes	Indicates notes related to the PTP. Note: This note is displayed in Notes section with type as Promise to Pay.
View Promise Details	This section appears if you click View Details in Promise field. It displays list of all past promises that are in BROKEN, KEPT, or CANCELLED status.
Promise Date	Displays date on which customer had promised to make the payment.
Promise Amount	Displays the amount that the customer promised to pay.
Received Amount	Displays the amount received on the promise to pay.
Created By	Displays the name of the user who created the promise to pay.
Created On	Displays the date on which promise to pay was created.
Status	Displays the status of the promise. The possible statuses are: KEPT: Indicates that promise was fulfilled by the customer. BROKEN: Indicates that promise was broken by the customer. CANCELLED: Indicates that promise was canceled.
View Repayment Schedule	This section is displayed if you click View Schedule in Scheduled Repayments field. It displays the list of future scheduled payments on the account. For loan accounts, it displays the schedule payments with installment date greater than or equal to the business date. For other accounts, if displays future bills with due date greater than or equal to the business date.
S. No.	Displays the serial number.
Date	Displays the date of payment of the future installment or due date of bill.
Amount	Displays the amount of installment or the due amount on bill.
Simulate Schedule	This section is displayed once you specify details and click Simulate. It displays details of the payment schedule generated by the system based on the details specified. You can modify the details of the payment schedule, if required. If you click Add Schedule, a row is added in the table to create a new promise.
Promise Date	Displays the promise date of the PTP. Note: The promise date for the first PTP is the date specified in the Date of First Payment field. While modifying an existing installment or selecting date for a new installment, ensure that date is equal to or greater than the business date.
Promise Amount	Displays the amount of installment for the promised amount. Note: The promised amount for an installment is calculated based on the option selected in Scheduled Repayments field.
Action	Click to delete a row from the payment schedule.
Promise Details	This section displays the list of existing promises that are active.
Promise Date	Displays the promised date of payment.
Promise Amount	Displays the amount that the customer promised to pay.
Received Amount	Displays the amount received against the PTP. If you click received amount, the transaction details of the amount is displayed.
Task	Displays the task for which promise was created.
Created By	Displays the name of the user who created the promise to pay.
Created On	Displays the date and time when the promise was created.
Action	Click Cancel to cancel a promise to pay. The Reason for Cancellation section is displayed if you click Cancel.
<Transaction Details>	This section is displayed if you click the link in Received Amount field. It displays details of all payments appropriated against the selected promise.
Transaction Date	Displays the date on which payment was received.
Transaction Type	Displays the type of transaction. The possible values: Credit Debit
Amount	Displays the amount appropriated against the selected promise.
Reference No.	Displays the transaction reference number.
Reason for Cancellation	This section is displayed if you click Cancel in Action field.
Reason	Indicates reason for cancellation of promise. For example, Incorrect Promise, Customer Request, and Account Cured.
Notes	Indicates notes related to cancellation of promise.

Parent topic: Case Summary