7.7 Setting Loan Schedule Preferences
Schedule preferences are the attributes of the repayment schedules defined for the loan.
The attributes that have been defined for a product are inherited by all loans involving
the product. Some of these attributes can be changed. They are:
- The liquidation of schedules that fall due before the day on which the loan is booked.
- The liquidation mode (auto to manual)
The following attribute defined for the product, and inherited by the contract, cannot be
changed:
- The schedule type - amortized, capitalized, or normal is inherited from the product and displayed for the loan.
Through a set of fields in the Contract Preferences screen, you
can specify an additional set of schedule related attributes for a loan that you are
processing:
- How liquidation dates falling on holidays should be handled.
- Whether schedule dates should be cascaded in case you have indicated that they (schedule dates) be moved forward or backward when they fall on a holiday.
- The holiday table, of the country of the loan currency, that has to be checked before setting automatic schedules.
- Whether back valued schedules should be liquidated on loan initiation.
- The type of amortization, if amortization has been specified for the product and therefore, the loan.
- Whether availability of funds in the repayment account has to be verified if components have the same schedule date and repayment account, and automatic liquidation has been specified
Note:
(Only the attributes that deal with schedules are discussed here. Attributes like mode of status control and type of commitment which are present in this screen are dealt with in the chapters Disbursing a Loan and Commitments, respectively please refer these chapters.)Parent topic: Processing Repayments