2.3.3 Pay By Date

After providing the fee schedule details, Payment Schedule Summary displays the Pay By date based on the parameter Payment Delay Days.

Figure 2-4 Pay By Date

Description of "Figure 2-4 Pay By Date"

• After capturing all the details at contract level, liquidation event FLIQ fires on Pay by Date for advance and arrear fee components.
• Pay By Date is applicable for bullet fee schedule also.
• Accruals takes place according to the liquidation done on Pay by date.
• Accounting entries are similar to that for normal loans.

Payment Delay Days: 5 Days

• Product Maintenance screen > Fee Detail > For example. Payment Delay Days as 5 Days.
• Schedule >Schedule Details

  Type	Component	Start Date	Amount
  Payment	Fee_Comp1	15 Jun 2018	1000
  Payment	Fee_Comp2	15 Jun 2018	1000

• Schedule Details should display an additional information Pay by Date derived using Payment Delay Days.

For advance and arrear fee components, fee liquidation takes place on 20th June 2018 instead of 15th June 2018 as a result of payment delay days.

Due Date	Component	Total Amount Due	Pay By Date
15 Jun 2018	Fee_Comp1	1000	20 Jun 2018
15 Jun 2018	Fee_Comp2	1000	20 Jun 2018