What is a Pay Plan Recommendation Rule

Users ask the system to recommend the scheduled payments for a pay plan. In general, this recommendation process must establish:

A recommendation rule comprises of three elements:

The default parameter values for the payment schedule algorithm type may change over time, so the collection contains an effective date. If default values are changed, these changes do not affect pay plans already in effect. Existing pay plans keep the parameter values that were used when the pay plan was started.

A user may override the default parameter values for the payment schedule algorithm type to customize the schedule if an override is allowed for a parameter. Additionally, a user may edit the payment schedule details at any time (provided the payment has not yet been processed).

Note:

Normally parameter values for an algorithm type are kept with the algorithm. Because the parameters may vary for each pay plan, while the same algorithm logic is used, the parameter values are kept with the pay plan.