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Current 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 enough to pay off the principal and all the interests and fees as of the current date and used for this purpose.

Other payments

(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 pay-off the purpose 1. 

  • If the repayment amount is less than the amount required to pay for the purpose 1, it is covered in part. 

  • If the repayment 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

...

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 

suggested screen name: Current Installment Principal 

suggested description: Available repayment amount is used to pay off the principal due for the installment actual for the Repayment Date

...

CurrentDebtStep

suggested screen name: Current Installment Full 

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

...

PayOverpaymentStep - ???

RECALCULATION AND BALANCING

CurrentRecalculateStep 

suggested screen name: Recalculate Installment

suggested description: Recalculate fees and interest for the installment

suggested info text:  Apply the step after Current Installment Principal  or Current Installment Full  to recalculate outstanding fees and payments for the installment. Don't add the step to keep the initial payment schedule.

...

suggested screen name: Recalculate Loan

suggested description: Recalculate the loan schedule

suggested info text:  Apply the step to recalculate the loan schedule if the repayment amount was used for any early payments. 

Options: 

suggested selector info text: Decide how the payment schedule shall be updated if the total due amount is changed. 

Option 1

Current name: Keep initial value

...

Option 2

Current name: Recalculate always

Suggested name: Reduce the payment per installment

Suggested hint: Loan payment schedule stays the sameRepayment modes constructor allows defining rules that regulate how the funds transferred by the customer are allocated among their payables.

There are three system-wide repayment modes available by default, but it is also possible to add some custom ones and define their settings for each credit product.

Adding a Custom Repayment Mode

To add a custom repayment mode to a credit product:

  1. Go to the Settings → Loan Settings → Credit products and click the pencil icon by the credit product name

  2. Image Added

    In the emerged window, open the “Repayment modes” tab and click the “Add repayment mode” button

    Image Added

Name and Descriptions

The mode name and description are displayed when selecting how the payment shall be allocated. It is important that other users and customers can understand what this mode is dedicated for

...

Availability

...

The mode availability defines if this mode can be available for Customers and/or Back-Office.

This means that when manually initiating a payment, they will see this mode in the selector.

Max payment amount

...

Define the maximum amount of the transfer that can be performed if this repayment mode has been selected.

Available options are:

  • No limit

  • Outstanding principal

  • Sum of postponed fees

  • Sum of special fees

  • Payoff amount

Adding Steps

As it has been mentioned before, each repayment mode is a set of steps performed with the transferred amount.

...

The step are allocated in groups, subject to the installment they are related to:

We’ve strived to make the step names rather simple and easy to understand, however, should there be a doubt, select the step in the drop-down and its detailed description will appear below it.

...


If this is the step you need, click the “Add step” button, and the step will be added to the list

...

When there is more than one step in the list, you can use the up and down arrows to move the steps around the list.

The 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. We can virtually divide the steps into:

  • Repayment Steps: related directly to the usage of the transferred payment

  • Recalculation Steps: related to recalculation of the loan fees, interest and principal in consideration of the previous repayment steps.

The system performs repayment steps in the order of their placement on the list until whole payment amount is used up, i.e.

  1. 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.

  2. If the amount is enough to cover the steps in full, the system covers the step, and

    1. If the next step is a repayment step, the system tries to perform it (as in 1)

    2. If the next step is a recalculation step, the system performs it and moves on to the next step

The system continues, until the repayment amount is used up and all recalculation steps are performed.

Finalize the Repayment Mode Creation

Once you’ve defined all the steps and settings, click the OK button at the bottom.

When the Credit Product page emerges, click the OK button there as well to save the changes.