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Current Repayment Date - suggestion: Repayment Date
И тут у меня вопрос - вот эта разбивка на прошлое и будущее она идет между датой, когда мы вносим в систему (Current date) или фактической датой платежа (Repayment date)? Пока что везде пишу, что это Current date
Simple Payments
Initial Payment: Is only applicable for payments in the Awaiting for Initial Payment status
Pay off Amount: The repayment amount is enough : Date when the payment was done.
Introduction
Understanding Repayment Modes
A repayment mode is a rule that regulates how the funds transferred by the customer are allocated among their payables.
In simple terms, it is an ordered list of steps applied to the payment.
There are two types of steps:
Repayment Steps: Funds are used to cover a specific payable
Recalculation Steps: The rest of the payables are recalculated and allocated among the installments.
Basic Modes
Initial Payment Mode: This mode is available by default and has an only step: all the funds are used to pay the initial payment. Maximum amount available for this mode cannot exceed the initial payment.
Pay-off Mode: This mode is available by default only available to pay off the principal and all the interests interest and fees as of the current date and used for this purpose.
Other
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(это просто описание для понимания, и чтобы проверить, что я верно поняла)
Repayments not aimed neither for the Initial Payment nor for Pay off can be used for different purposes. The list of purposes and their order is defined for each Repayment Mode.
System tries to cover the purpose 1.
If the transaction amount is less than the amount required to pay for the purpose 1, it is covered in part.
If the transaction amount is more than the amount required to pay for the purpose 1, the system will go on and use the available repayment amount to pay for purpose 2, etc.
Repayment Steps List
current name: RepaymentStepsKit
suggested screen name: Repayment Allocation Order
suggested description: Ordered list of purposes for which repayment shall be used.
suggested info hint: System tries to pay-off the purposes in the list in their order. If the available repayment amount is more than the amount required for the purpose, it will be used for the next purpose. If at any step, the available repayment amount is less than the amount required to pay for the purpose, it is payed in part.
PastDueDebtStep
suggested screen name: Past Due Debt
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EarlyPayCurrentDebtStep:
suggested screen name: Current Installment Fees and Interest
suggested description: Available repayment amount is used to pay off interests and fees due for the current installment on the Repayment Date
RemainingCurrentPrincipalStep
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Modes
All other modes depend on the company, their policies and procedures. For each mode, it is possible to define:
Name and Description of the mode: They are displayed when selecting how the payment shall be allocated. It is important that other users can understand what this mode is dedicated for
Availability: Defines if this mode can be available for web-portal users and/or back-end users (company employees) - ADD DROP-DOWN OPTIONS TOPICAL FOR EACH CASE
Max payment amount: For some modes it is important to define the amount that shall not be exceeded.
Steps: Ordered list of repayment and recalculation steps.
The user can easily add steps from the dropdown at the bottom of the following form. The logic of steps performance and types of steps are described further in the document.
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Logic of the Mode Steps Performance
The system performs or attempts to perform repayment and recalculation steps in the order they are placed on the list.
Repayment Steps Performance Logic
The system performs repayment steps in the order of their placement on the list until whole payment amount is used up, i.e.
The system tries to cover the amount required for step.
If the amount is not enough to cover the step in full, it covers it in part and moves on to perform the remaining recalculation steps in the corresponding order. It does not perform any other repayment steps.
If the amount is enough to cover the steps in full, the system covers the step, and
If the next step is a repayment step, the system tries to perform it (as in 1)
If the next step is a recalculation step, the system performs it
The system continues, until the repayment amount is used up and all recalculation steps are performed.
Repayment Steps List
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Repayment Steps
CurrentDebtStep → Current installment
Info text: Use the available amount to cover the fees, interest and then (if possible) the principal of the instalment that has started and has not finished before or on the Repayment Date
CurrentRecalculateStep → move to Recalculation Steps
EarlyPayCurrentDebtStep → Current fees and interest
Info text: Use the available amount to cover the fees and interest due for the instalment that has started and has not finished before or on the Repayment Date
ExtraOverpaymentStep → Future principal
Info Text: Use the available amount to cover the current installment and then (if possible) cover the remaining principal of the loan in part or in full.
FutureDebtStep → Future installments
Use the available amount to cover upcoming installments starting with the next one. (The fees and interest and then, if possible, the principal of the nearest installment, then of the next installment after next, etc.)
FutureDebtReversedStep → Future installments reverse
Use the available amount to cover upcoming installments starting with the last one. (The fees and interest and then, if possible, the principal of the last scheduled installment, then of the one before last, etc.)
InitialPaymentStep → Initial payment
Use the available amount to cover all and any fees accrued before the start of the first installment.
PastDueDebtStep → Past installments
Use the available amount to cover the fees, interest and then (if possible) the principal owed on the Repayment Date ??? ВОПРОС - do we first pay the fees, interest and principal of the most overdue installments, then of the next one, etc. Or do we cover all the fees due, then all the interest due and then all the principal due on the Repayment Date?
Cover the overdue payments missed in the past starting with the fees.
Use the available amount to cover
suggested description:Available repayment amount is used to pay off the principal due for the installment actual for the Repayment Datesuggested info text:Amount payable for the installment that has started and has not finished before or debt that is owed on the Repayment Date Date.
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RemainingCurrentPrincipalStep
suggested screen name: Current Installment Full Principal
suggested description: Available repayment amount is used to pay off the principal , fees and interests due for the whole installment actual for the Repayment Date
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Suggested hint: Loan payment schedule stays the same
Copy Evgen:
Repayment mode -- Repayment logic / Repayment priority
Hint: Select one of pre-configured repayment logics or create your own repayment allocation order for distributing the funds received from borrowers.
Availability
Hint: If you choose Back – only your staff can log repayments. If you choose Front – borrowers can do it themselves.
Steps hint: Prioritize or remove steps of the repayment mode in a way that reflects the order in which you’d like to cover what is owed to you including all the fees, interest, and principal of the loan.
Initial payment
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Past due debt
Cover the overdue payments missed in the past starting with the fees.
Current debt early payment
Covers the fees and interest accrued as of the repayment time in the current installment. Doesn’t include principal.
Current principal early payment
Covers the principal debt accrued as of the repayment time in the current installment.
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Recalculates the sum owed within the current installment. This affects the fees and interest to be accrued as they are based on the reduced principal.
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Covers the current installment amount on the due date. The fees and interest are repaid first.
Overpayment
Covers the remaining principal of the loan if the payment exceeds the amount owed in the current installment.
Remaining recalculate step
Recalculates all future installments if there has been an overpayment which reduced the principal.
Future debt
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Future debt reversed
Covers upcoming installments starting with the last one without recalculating the schedule.
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