A waiver is typically added in pending status allowing a user to configure the attributes of the waiver such as the assessment and the amount, if applicable or the effective dates, if applicable. The waiver has no financial effect at this time.
When the user is happy with the waiver's setup and activates it, the obligation's penalty and interest is recalculated.
For any penalty and interest charge that is waived, an adjustment is created for the waived amount (to credit the charge being waived). This information is visible on the waiver portal.
Controlled by configuration. The actual behavior of the waiver and its lifecycle are controlled by the configuration of the waiver. The above information describes the logic provided for waivers in the base product. Your implementation may introduce a different business process.
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