4.5 Promise to Pay

This widget facilitates user to create Promise to Pay (PTP) for the promise made by the customer to pay the overdue amount on the account. User can view details of all existing active PTP for an account. Also, user can cancel any existing active PTP, if required.

If user are normal collector, user can create PTP for the tasks that are assigned to user. However, if user are supervisor, user can create PTP for the tasks that are assigned to user or the tasks that are assigned to the collectors under user.

User can create PTP in following two ways:
  • Quick PTP: A quick PTP facilitates user to create a PTP with minimum details to save time. User 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 user to create a PTP in detail with a payment schedule. User 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 user 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, user can create a PTP with single or multiple installments. For example, with frequency type as Ad hoc, user 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, user can create a PTP in which the promised amount is payable by the customer in one or more installments.

Once a PTP is created, user cannot modify it. However, user can cancel an active PTP, if required. For example, user may want to cancel a PTP if it is created with incorrect details or the customer requested to cancel the PTP.

If user are normal collector, user can cancel a PTP created for the tasks that are assigned to user. However, if user are supervisor, user can cancel the PTP created for the tasks that are assigned to user or the collectors under user.

Note:

  • User cannot create a PTP if an active promise already exists for a particular date. If user want to create a new PTP with the same promise date, user need to cancel the existing active PTP.
  • User cannot cancel a PTP if payment appropriation is already done on that PTP.

Table 4-15 Field Description: Promise to Pay

Field Name Description
Promise to Pay This widget helps user 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 user. If user are a collector with supervisor role, it also displays the tasks that are assigned to the collectors under user.

Promise Type Indicates the promise type.
Note: The list displays only those promise types, which are:
  • not associated with any segments.
  • associated with the same segments to which the selected task is also associated.
If only one promise type is applicable for the selected task based on the above rules, then that particular promise type is selected by default.
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: User cannot select a date prior to the business date. By default, business date is displayed.

If user click expand, the Promise to Pay Summary section is displayed.

Figure 4-3 Promise to Pay Summary


Description of Figure 4-3 follows
Description of "Figure 4-3 Promise to Pay Summary"

Table 4-16 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 user click View Details, View Promise Details section is displayed.

Create Promise(s) This section is displayed if user click Add Promise in Promise Details section. It is used to specify details of the promise user 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 user. If user are a collector with supervisor role, it also displays the tasks that are assigned to the collectors under user.

Promise Type Indicates the promise type.
Note: The list displays only those promise types, which are:
  • not associated with any segments.
  • associated with the same segments to which the selected task is also associated.
If only one promise type is applicable for the selected task based on the above rules, then that particular promise type is selected by default.
Frequency Indicates the frequency of payment of the scheduled installments.
The options are:
  • Adhoc
  • Quarterly
  • Weekly
  • Fortnightly
  • Monthly
Scheduled Repayments Indicates the method of calculation of promised amount for the scheduled installments.
The options are:
  • Do Not Include: If user select this option, then while simulating schedule the future repayment schedules or bills are not considered in calculation of promise amount.
  • Include: If user select this option, the promise amount is calculated by adding the promise amount and all the scheduled installments or bills amount falling within the promise date. The scheduled installment or bill amount should apply to the nearest PTP installment date that is greater than or equal to the scheduled installment or bill date.
  • Distribute Evenly: If user select this option, the promise amount is calculated by adding the promise amount and all the scheduled installments or bills amount falling within the PTP period. The scheduled installments or bills should be equally distributed among all the PTP installments.

If user 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 user select Adhoc option in Frequency field, this field displays 1 by default and user cannot modify it.

Date Of First Payment Indicates the date of first payment.

Note: User 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 user 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:
  • KEPT: Indicates that promise was fulfilled by the customer.
  • BROKEN: Indicates that promise was broken by the customer.
  • CANCELLED: Indicates that promise was canceled.
View Repayment Schedule This section is displayed if user 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 user specify details and click Simulate. It displays details of the payment schedule generated by the system based on the details specified. User can modify the details of the payment schedule, if required. If user 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 cancel to delete a row from the payment schedule.
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 user 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 user click Cancel.
<Transaction Details> This section is displayed if user 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:
  • Credit
  • Debit
Amount Displays the amount appropriated against the selected promise.
Reference No. Displays the transaction reference number.
Reason for Cancellation This section is displayed if user 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.

This section consists of the following topics:

Parent topic: Case Summary