A disbursement fee can be set up on the CP(Credit Product) as a fixed amount or percent or rate.

All disbursement fees are deducted from the loan amount upon disbursement and the rest is transferred to a borrower manually or via an integration with a payment provider. The loan schedule is based on the initial Loan Amount( disbursement fee is included).

Decrease amount to disburse.

Disbursement fees are applied and immediately paid as soon as a loan is disbursed, regardless of their priority in the fees list.

Make a note that in case of multiple disbursements, this fee is applied every time, to every disbursement.

The Down payment amount is a part of the purchase price that a borrower decides to pay and the loan amount will be calculated as a subtraction down payment from the purchase price.

Waiting for the payment on the Servicing WP. Can not overpay.  'Pending initial payments' status until a customer pays the down payment amount in full.

'0' Installment will be added to the schedule.

Some types of loan products accrue penalties for late payments. A late fee can be added to a credit product as a fixed amount or percent or rate.

The penalty is charged once payment is delayed by a number of days specified in the agreement (Installment past due). There may be several commissions of past due days, and for each of them, different amounts of fine may be charged.

example:

Late fee 1:
DPD = 5 days, percent = 1%

Late fee 2:
DPD = 10 days, amount = $20

Once the rule is applied and a fee is charged, this rule is no longer checked and applied for this installment. However, it can be applied for other installments - the DPD value for each installment is calculated based on this installment's Due Date.

Leasing payment

Leasing payment is available when the loan type is - Leasing. 

'Leasing payment' commission can be specified as a percent of the Loan Amount or as a fixed amount (not depending on Loan Amount). 

It is expected that only one lease payment is added to the credit product, however, you are free to add a set of such commissions if it corresponds to your business needs.

For each payment transaction.

Non-sufficient funds (NSF) is the term used when the checking account is overdrawn — meaning there is not enough money in the account to pay the check written against it. The bank (payment provider) returns the “bounced” check to the account holder and charges a returned check charge or an NSF fee. A returned check stamped with NSF means that the check wasn't honored by the bank because the account holder doesn’t have enough funds in the account or the account has been closed. In this case, the System will apply an NSF fee on the loan in an amount predefined in the Credit Product settings.

NSF fee is accrued automatically in case a payment transaction is failed with the following return statuses: 

• result = "Decline Insufficient funds",
  OR
• result = "Returned".

Regardless of the payment schedule calculation method, the Origination Fee adds to the first installment (i.e. it is a part of the first scheduled payment).

An Origination Fee can be added to a credit product as a fixed amount or percent or rate.

Interest for late payments is accrued in the system depending on the Past Due Interest setting in the Credit Product. It can be based on:

• Past due principal
• Outstanding principal
• Loan amount

Past due interest may be applied to late payments in addition to a late fee(s).

The interest on arrears is calculated daily/ weekly/ monthly/ yearly(commissions settings) as a percentage.

A Payoff fee can be can be set in the credit product settings as a fixed amount or percent or rate of the Outstanding principal. 

Once a repayment transaction with the "Payoff" type is created, a calculated payoff fee is accrued and paid first. 

Payoff fee is a sum of all fees that are assigned an Event Type 'On payoff' in the Credit Product.
If Value Type for any of the fees are set as a percentage, then the fee value is calculated from the remaining principal amount.

A fee to be paid by a customer for a new loan before the application will be sent for approval.

A pre-approval fee can be set up on the CP as an amount.

Waiting for the payment on the Originator WP. Can be paid partly, cannot be overpaid.  'Pending initial payments' status until a customer pays the pre-approval fee amount in full. If the payment isn't made, the loan gets expired.

'0' Installment will be added to the schedule.

A special kind of initial payment. It's a fee to be paid by a customer for an approved loan to allow disbursement.

A pre-approval fee can be set up on the CP as a fixed amount or percent or rate.

Waiting for the payment on the Servicing WP. Can be paid partly, cannot be overpaid.  'Pending initial payments' status until a customer pays the Pre-disbursement fee amount in full. If the payment isn't made, the loan gets expired.

"0" Installment will be added to the schedule.

One-time fees are applied to loans that should be paid while the loan has a status 'Pending initial payments'(Before disbursement).

A repayment fee can be added to a Credit Product as a fixed amount or percent or rate.

Once a repayment transaction is applied, a calculated repayment fee amount is deducted from the transaction amount. The rest is applied according to the general rules.

The amount can be chosen:

Amount to be applied – the specified amount will count towards loan repayment. Taxes and fees will be added to it.

Transaction amount – taxes and fees will be deducted from the specified amount and the remainder will count towards loan repayment.

A repayment fee is a sum of all fees that are assigned an Event Type 'On payment' in the Credit Product.
If Value Type for any of the fees are set as a percentage, then the fee value is calculated from the transaction amount.

The base for Repayment Fee, %  doesn't include Sales taxes.

Sales tax can only be specified as a percentage and can be set as a constant value or with fee ranges.

Sales Tax = Paid Principal * Sales tax % rate.

The amount can be chosen:

Amount to be applied – the specified amount will count towards loan repayment. Taxes and fees will be added to it.

Transaction amount – taxes and fees will be deducted from the specified amount and the remainder will count towards loan repayment.

If some fees with Calculation basis ='Paid Principal' are added to the credit product, then these fees are accrued one by one according to 'Accrual priority', so the Installment payment amount for the second fee includes the already accrued first fee amount.

• Loan amount
• Disbursement amount
• Remaining principal

Define the fee base if the fee is set as a percent or rate.

If a fee value is "Amount", a calculation basis is unavailable.

• Min value - %
• Max value - %

Who can edit the fee:

• Back-Office users;
• Customers (while applying for financing);
• Both;
• Neither (in the case of using a third-party integration).

• Amount
• Percent
• Rate

• Always is an equal payment
• Over equal payment
• Within equal payment limit

• Grace period
• Main period

Payoff settings 

General: by date

• All (by default)

Payoff settings

General: future

• Percent

Calculation basis

• Loan amount
• Disbursement amount

Define the fee base if the fee is set as a percent or rate.

If a fee value is "Amount", a calculation basis is unavailable.

• Amount
• Percent
• Rate

• Purchase amount

Define the fee base if the fee is set as a percent or rate.

If a fee value is "Amount", a calculation basis is unavailable.

• Amount
• Percent
• Rate

• Min value - %
• Max value - %

Who can edit the fee:

• Back-Office users;
• Customers (while applying for financing);
• Both;
• Neither (in case of using a third-party integration).

• Past due principal (by default)

Define the fee base if the fee is set as a percent or rate.

If a fee value is "Amount", a calculation basis is unavailable.

• Day (number)

• Amount
• Percent
• Rate

• Grace period
• Main period

• Loan amount
• Disbursement amount

Define the fee base if the fee is set as a percent or rate.

If a fee value is "Amount", a calculation basis is unavailable.

• Amount                            
• Percent                       
• Rate  

• Day
• Week
• Month
• Year    

• Grace period
• Main period

Payoff settings 

General: by date

• All (by default)

Payoff settings

General: future

• Percent

• Amount( by default)

• Always is an equal payment
• Over equal payment
• Within equal payment limit

• Grace period
• Main period

• Loan amount
• Disbursement amount

Define the fee base if the fee is set as a percent or rate.

If a fee value is "Amount", a calculation basis is unavailable.

• Amount
• Percent
• Rate

• Grace period
• Main period

Payoff settings 

General: by date

• All (by default)

Payoff settings

General: future

• Percent

• Past due principal
• Outstanding principal
• Loan amount

Define the fee base if the fee is set as a percent or rate.

If a fee value is "Amount", a calculation basis is unavailable.

Percent ( by default)

per:

1. Day
2. Week
3. Month
4. Year

• Grace period
• Main period

• Remaining principal(by default)

Percent ( by default)

per:

1. Day
2. Week
3. Month
4. Year

This value is used as the Commission Rate for all loans created using this Credit Product.

• Grace period
• Main period

• Outstanding principal( by default)

Define the fee base if the fee is set as a percent or rate.

If a fee value is "Amount", a calculation basis is unavailable.

• Amount
• Percent
• Rate

• Grace period
• Main period

• Amount(by default)

• Loan amount

Define the fee base if the fee is set as a percent or rate.

If a fee value is "Amount", a calculation basis is unavailable.

• Amount
• Percent
• Rate

This value is used as the Commission Rate for all loans created using this Credit Product.

• Min value - %
• Max value - %

Who can edit the fee:

• Back-Office users;
• Customers (while applying for financing);
• Both;
• Neither (in case of using a third-party integration).

• Payment amount(by default)

Define the fee base if the fee is set as a percent or rate.

If a fee value is "Amount", a calculation basis is unavailable.

• Amount
• Percent
• Rate

This value is used as the Commission Rate for all loans created using this Credit Product.

• Grace period
• Main period

• Paid principal

Define the fee base if the fee is set as a percent or rate.

If a fee value is "Amount", a calculation basis is unavailable.

• Percent (by default)

• Min value - %
• Max value - %

Who can edit the fee:

• Back-Office users;
• Customers (while applying for financing);
• Both;
• Neither (in case of using a third-party integration).

• Grace period
• Main period

Who can edit the fee:

• Back-Office users;
• Customers (while applying for financing);
• Both;
• Neither (in case of using a third-party integration).

Value type - Amount(by default)

Value - $