12.1 Create Promise Type

The Create Promise Type page facilitates you to create a promise type. You can create promise types with different configurations that will be used to create promise to pay for various segments. A promise to pay is made by the customer to pay the amount due on the delinquent account.

While creating a promise type, you can select the segments to which the promise type will be applicable. You can set the grace days and threshold limit for the promise type. You can also configure any additional validations for the promise type.

Table 12-1 Field Description: Create Promise Type

Field Name	Description
Basic Details	This section is used to provide basic information of the promise type.
Code	Indicates the unique identification code of the promise type.
Description	Indicates the description of the promise type.
Segment	Indicates the segment to which the promise type is associated. You can select multiple segments. If you do not select any segment, the promise type is applicable for all segments by default.
Grace Days	Indicates the number of grace days allowed to the customer for payment of the promised amount against the promise to pay. It is the additional number of days allowed to make payment if the customer fails to pay on the promised date.
Threshold (%)	Indicates the threshold limit in percentage of the promised amount. Note: The limit should not be greater than 100%.
Additional Validation	This tab is used to configure rules for additional validations for the promise type. For more information on how to configure rules, see Oracle Banking Common Core User Guide.

• Creating a Promise Type