1. Loan Collection Setup Guide
  2. Product
  3. Asset Types
  4. Usage/Rental Details

4.1.1 Usage/Rental Details

The Usage / Rental Details sub tab allows you to define Usage/Rental definition details to categorize the incoming asset usage/rental data based on different parameters. The details maintained here are populated in Origination screen for billing calculation and can also be modified based on requirement.

  1. In the Usage/Rental Details section, perform any of the Basic Operations mentioned in Navigation chapter.
  2. A brief description of the fields is given below:

    Table 4-6 Usage/Rental Details

    Field Do this
    Agreement Type
    Select the agreement type as one of the following from the drop-down list. The selected Agreement Type defines the criteria for pricing selection during billing calculation.
    • USAGE
    • RENTAL
    • USAGE RENTAL

    Note: Based on the above selected option, the other fields are either enabled or disabled for selection as indicated below:

    For Usage Agreement Type, the following fields are editable:
    • Calc Method
    • Usage Cycle
    • Min Usage
    • Max Usage
    • Discount %
    • Usage Rollover / Advance
    • Usage Term Calc Method
    For Rental Agreement Type, the following fields are editable:
    • Discount %
    • Discount Amount
    • Security Deposit
    For Usage Rental Agreement Type, the following fields are editable:
    • Usage Cycle
    • Max Usage
    • Discount %
    • Discount Amount
    • Security Deposit
    Calc Method
    Select the calculation method as one of the following from the dropdown list.
    • TIERED (billing is based on the defined Usage/Rental Charge Matrix)
    • NON-TIERED (system automatically chooses the applicable slab based on the final usage value)
    Usage Cycle Select the frequency of billing the asset usage from the drop-down list. This field is disabled for RENTAL agreement type.
    Min Usage Specify the minimum usage value of the allowed range. This field is disabled for RENTAL agreement type.
    Max Usage Specify the maximum usage value of the allowed range. This field is disabled for RENTAL agreement type.
    Discount % Specify the percentage of discount exempted from final billing.
    Usage Rollover / Advance
    Select the type of asset usage calculation as one of the following:
    • ROLLOVER (remaining usage balance is carried forward to next cycle)
    • NO-ROLLOVER (remaining usage balance is not carried forward)
    • ROLLOVER AND ADVANCE (remaining usage balance is carried forward to next cycle + total usage limit for current cycle can be utilized upfront)
    • ADVANCE (total usage limit for current cycle can be utilized upfront)

    Note: This field is disabled for RENTAL and USAGE RENTAL agreement type and NO-ROLLOVER option is applicable by default.

    Reset Frequency Specify the reset frequency of the billing cycle. This field is disabled for RENTAL and USAGE RENTAL agreement types and is available for ROLLOVER, ADVANCE and ROLLOVER AND ADVANCE methods of asset usage billing.
    Usage Term Calc Method
    Select the type of asset usage term for billing calculation as one of the following from the drop-down list:
    • ACTUAL - here the current details updated/received is treated as the final record for usage term calculation.
    • AVERAGE - here system takes the average of usage details received in previous cycles for usage term calculation.

    The calculation method selected here is populated to Elastic Term Calc Method field in Origination/Servicing Collateral screen. This field is disabled for RENTAL and USAGE RENTAL agreement type.

    Discount Amount If you are defining Usage/Rental Details for RENTAL or USAGE RENTAL type of agreements, specify the discount amount allowed upfront from the final billing. This field is disabled for USAGE agreement type.
    Security Deposit If you are defining Usage/Rental Details for RENTAL or USAGE RENTAL type of agreements, specify the security deposit amount paid upfront for the term. This field is disabled for USAGE agreement type.
    Excess Rent Collection Method
    If you have selected the Agreement Type as USAGE RENTAL, select one of the following type of Charge Matrix to be used to derive the Excess Rent Collection Method from the drop-down list.
    • USING USAGE MATRIX
    • USING RENTAL MATRIX
  3. Perform any of the Basic Actions mentioned in Navigation chapter.

Parent topic: Asset Types