1. Bills and Collections User Guide
  2. Bills and Collections Product Attributes
  3. Bills and Collections Product Definition
  4. Setup a Product for Bill Forfaiting
  5. Interest

3.2.14.1 Interest

Specify the User ID and Password, and login to Homepage.

Navigate to Interest screen.

  1. Set the interest components.
    Following interest components:
    • Main interest
    • Forfaiting interest component – linked to events FACP or FDIS.
    • Rebate interest component – linked to event FACP or FDIS.

      Table 3-23 Interest - Process

      Field Description
      Collection Method Specify ‘Advance’ for the forfaiting and rebate interest components. You need to indicate the collection method as ‘Arrears’ for the main interest component.
      Rate Type The forfaiting interest component should not be of type ‘Special’.

Parent topic: Setup a Product for Bill Forfaiting