4.3.2 Rate Adjustments
The Rate Adjustment sub tab is enabled for lease calculation based on Interest Rate.
- Click Setup > Setup > Administration > User > Products > Products > Lease > Rate Adjustments.
- On the Rate Adjustments sub tab, perform any of the Basic Operations mentioned in Navigation chapter.
A brief description of the fields is given below:
Table 4-13 Rate Adjustments
Field Do this Seq Specify the sequence number of the rate change adjustments. Consider 1 as the initial (first) rate change adjustment frequency. All subsequent frequencies will be considered for rate change adjustments according to their sequence number. Adjustment Frequency Select the frequency value for adjustments, from the drop-down list. Currently, the following values are available in the system:
RATE CHANGE OCCURS EVERY X YEARS
RATE CHANGE OCCURS EVERY X MONTHS
RATE CHANGE OCCURS EVERY X DAYS
RATE CHANGE OCCURS EVERY BILLING DATE
RATE CHANGE OCCURS EVERY DUE DATE
RATE CHANGE OCCURS AT MATURITY
Period Specify the period associated to adjustment frequency. For example, if you select the adjustment frequency as RATE CHANGE OCCURS EVERY X YEARS and enter 5, the rate change occurs every five years. # of Adjustments Enter the number of adjustments associated with the adjustment frequency. For example, in above example, if you enter the value as 2, then rate payment adjustment occurs on the product every five years and will happens 2 times before switching to the next adjustment frequency. Enabled Check this box to indicate that this rate adjustment is currently available. - Perform any of the Basic Actions mentioned in Navigation chapter.
Parent topic: Products