Data Definition: SYS Payment Frequency
Form Label (Field Label): Frequency
# of Characters: Not applicable
Where to use it: Lease BPs
Use this element for: Specifying the frequency with which the lease should be paid—one-time payment, 3 months, 6 months, 9 months, or 12 months.
Pull-down Menu (Drop-down list).
Used in conjunction with the lease start and end dates, the payment will be automatically prorated (on days per month), except for one-time payments.
The calculated daily rates are based on:
- 3 months = 90 days
- 6 months = 180 days
- 9 months = 270 days
- 12 months = 360 days