4.5 Promise to Pay
This widget facilitates you to create Promise to Pay (PTP) for the promise made by the customer to pay the overdue amount on the account. You can view details of all existing active PTP for an account. Also, you can cancel any existing active PTP, if required.
If you are normal collector, you can create PTP for the tasks that are assigned to you. However, if you are supervisor, you can create PTP for the tasks that are assigned to you or the tasks that are assigned to the collectors under you.
- Quick PTP: A quick PTP facilitates you to create a PTP with minimum details to save time. You can create this PTP if the customer agrees to pay the promised amount in a single payment on a particular date.
- Advanced PTP: An advanced PTP facilitates you to create a PTP in detail with a payment schedule. You can create this PTP if the customer agrees to pay the promised amount in single or multiple installments over a period of time as per a payment schedule. If you create a PTP with multiple installments, each installment with the promised date and promised amount is considered as an independent PTP and needs to be tracked separately.
Based on the configurations defined for the frequency of payments, you can create a PTP with single or multiple installments. For example, with frequency type as Ad hoc, you can create a PTP in which the promised amount is payable by the customer in a single installment. However, with frequency type as Weekly or Monthly, you can create a PTP in which the promised amount is payable by the customer in one or more installments.
Once a PTP is created, you cannot modify it. However, you can cancel an active PTP, if required. For example, you may want to cancel a PTP if it is created with incorrect details or the customer requested to cancel the PTP.
Note:
- You cannot create a PTP if an active promise already exists for a particular date. If you want to create a new PTP with the same promise date, you need to cancel the existing active PTP.
- You cannot cancel a PTP if payment appropriation is already done on that PTP.
Table 4-14 Field Description: Promise to Pay
Field Name | Description |
---|---|
Promise to Pay | This widget helps you to create PTP. It also displays details of the existing promises created on the account. |
Task | Indicates the task for which PTP is created.
Note: The list displays the tasks that are in In Progress and Escalated status. However, it displays only those tasks that are assigned to you. If you are a collector with supervisor role, it also displays the tasks that are assigned to the collectors under you. |
Promise Type | Indicates the promise type.
Note: The list displays only those promise types, which are:
|
Amount | Indicates the amount that the customer has promised to pay.
By default, overdue amount is displayed. |
Date | Indicates the date on which customer has promised to pay the amount.
Note: You cannot select a date prior to the business date. By default, business date is displayed. |
![expand expand](img/expand.png)
Table 4-15 Field Description: Promise to Pay Summary
Field Name | Description |
---|---|
Case ID,<Customer Name> | Displays the case ID and name of the customer. |
Promise To Pay Details | This section displays the details of the promise to pay created on the account. |
<Product Sub Type - Account Number> | Displays the product sub type and account number. |
Overdue | Displays the overdue amount on the account. |
Promise | Displays the count of promises that are broken and kept for the account in context.
If you click View Details, View Promise Details section is displayed. |
Create Promise(s) | This section is displayed if you click Add Promise in Promise Details section. It is used to specify details of the promise you want to create. If a promise is not yet created on the account, this section is displayed by default. |
Task | Indicates the task for which PTP is created.
Note: The list displays the tasks that are in In Progress and Escalated status. However, it displays only those tasks that are assigned to you. If you are a collector with supervisor role, it also displays the tasks that are assigned to the collectors under you. |
Promise Type | Indicates the promise type.
Note: The list displays only those promise types, which are:
|
Frequency | Indicates the frequency of payment of the scheduled installments.
The options are:
|
Scheduled Repayments | Indicates the method of calculation of promised amount for the scheduled installments.
The options are:
If you click View Schedule, View Repayment Schedule section is displayed. |
Promise Amount | Indicates the amount that the customer has promised to pay.
Note: By default, overdue amount is displayed. |
Number of Instalments | Indicates the number of installments in which the promised amount would be paid by the customer.
Note: If you select Adhoc option in Frequency field, this field displays 1 by default and you cannot modify it. |
Date Of First Payment | Indicates the date of first payment.
Note: You cannot select a date prior to the business date. By default, business date is displayed. |
Notes | Indicates notes related to the PTP.
Note: This note is displayed in Notes section with type as Promise to Pay. |
View Promise Details | This section appears if you click View Details in Promise field. It displays list of all past promises that are in BROKEN, KEPT, or CANCELLED status. |
Promise Date | Displays date on which customer had promised to make the payment. |
Promise Amount | Displays the amount that the customer promised to pay. |
Received Amount | Displays the amount received on the promise to pay. |
Created By | Displays the name of the user who created the promise to pay. |
Created On | Displays the date on which promise to pay was created. |
Status | Displays the status of the promise.
The possible statuses are:
|
View Repayment Schedule | This section is displayed if you click View Schedule in Scheduled Repayments field.
It displays the list of future scheduled payments on the account. For loan accounts, it displays the schedule payments with installment date greater than or equal to the business date. For other accounts, if displays future bills with due date greater than or equal to the business date. |
S. No. | Displays the serial number. |
Date | Displays the date of payment of the future installment or due date of bill. |
Amount | Displays the amount of installment or the due amount on bill. |
Simulate Schedule | This section is displayed once you specify details and click Simulate. It displays details of the payment schedule generated by the system based on the details specified. You can modify the details of the payment schedule, if required. If you click Add Schedule, a row is added in the table to create a new promise. |
Promise Date | Displays the promise date of the PTP.
Note: The promise date for the first PTP is the date specified in the Date of First Payment field. While modifying an existing installment or selecting date for a new installment, ensure that date is equal to or greater than the business date. |
Promise Amount | Displays the amount of installment for the promised amount.
Note: The promised amount for an installment is calculated based on the option selected in Scheduled Repayments field. |
Action | Click ![]() |
Promise Details | This section displays the list of existing promises that are active. |
Promise Date | Displays the promised date of payment. |
Promise Amount | Displays the amount that the customer promised to pay. |
Received Amount | Displays the amount received against the PTP.
If you click received amount, the transaction details of the amount is displayed. |
Task | Displays the task for which promise was created. |
Created By | Displays the name of the user who created the promise to pay. |
Created On | Displays the date and time when the promise was created. |
Action | Click Cancel to cancel a promise to pay.
The Reason for Cancellation section is displayed if you click Cancel. |
<Transaction Details> | This section is displayed if you click the link in Received Amount field. It displays details of all payments appropriated against the selected promise. |
Transaction Date | Displays the date on which payment was received. |
Transaction Type | Displays the type of transaction.
The possible values:
|
Amount | Displays the amount appropriated against the selected promise. |
Reference No. | Displays the transaction reference number. |
Reason for Cancellation | This section is displayed if you click Cancel in Action field. |
Reason | Indicates reason for cancellation of promise. For example, Incorrect Promise, Customer Request, and Account Cured. |
Notes | Indicates notes related to cancellation of promise. |