1. Bilateral Loans
  2. Making Additional Disbursements and Rate Changes
  3. Introduction
  4. Changing the Maturity Date

9.1.1 Changing the Maturity Date

Enter the new Maturity Date in the screen.

When you change the Maturity Date or the Principal of a loan:
  • If you have advanced the Maturity Date, the schedules falling due after the new Maturity Date is redefined to the Maturity Date.
  • If you have postponed the Maturity Date, the schedules that have not been liquidated and which fall due before the new maturity Date is redefined to the new Maturity Date.
You have to authorize the change in Maturity Date, before you redefine the schedules according to your requirements, through the Contract Schedules screen.

When you extend the Maturity Date of a loan, the time code of the credit line to which the contract is linked should be beyond the new Maturity Date. If not, the system seeks an override.

The new Maturity Date is applicable to the loan from the Value Date of the contract. You can also change the maturity date of the active commitment after its maturity date.

Note:

  • The system recalculates the fee schedules on the maturity date, if there are any such fee schedules and if they are not liquidated, and shifts them to new maturity date.
  • The system allows the commitment reductions (VAMI with decrease in amount) for the existing maturity date even after crossing the maturity date of the Commitment.
  • The system does not allow change in maturity date and change in commitment reduction in the same instance through this screen.
  • On changing the maturity date of the commitment, the bullet schedule is shifted to the new maturity date if its not liquidated.

Parent topic: Introduction