5.17 Maintaining Special Penalty Component Waiver Details

You can waive late payment charge schedule(s) for a component using LB Special Penalty Component Waiver screen.

Specify the User ID and Password, and login to Homepage.

1. On the homepage, type OLDPNWVR and click next arrow.
   The Special Penalty Compound Waiver screen is displayed.

   Figure 5-73 Special Penalty Waiver

   
   

   
   Description of "Figure 5-73 Special Penalty Waiver"

   
   
2. Specify the following details:
   • Contract Ref No

     Specify the reference number of the contract for which the late payment charge schedules should be waived.

     System displays the following details based on the specified contract reference number:
     • Module Code
     • CCY
     • Department Code
     • Product Code
     • Counterparty
     • Facility Name
     • CUSIP/ISIN
     • External CUSIP
     • Treasury Source
   • Penalty Comp

     Select the penalty component from the adjoining option list. This list displays all the late payment charge schedules for the contract which are not fully paid of waived.

   • Due Date

     System displays the due date for the penalty component selected. However, you can edit the due date.

     System displays the following details based on the selected penalty component:
     • Grace Days
     • Penalty Calc Date
     • Penalty Amount Due
     • Penalty Amt Settled
     • Basis Amount Due
     • Basis Amount Settled
   • Remarks

     Specify a brief description regarding the waiver for late payment charges for a schedule.

   • Waive

     Select this check box to indicate that the late payment charge schedule should be waived for a component. You can save the waiver operation only if the Waive box is selected for all schedules.

     You can waive a partially paid late payment charge schedule. In this case, the unpaid amount is treated as waived and the already paid amount is treated as settled. No further dues are tracked for this schedule.

     Before allowing the waiver of each schedule, system checks that all preceding schedules have been paid or waived. If there are any unpaid schedules preceding this schedule, then system displays the following override message:

     Prior schedules are unpaid for this component. Please pay/waive all such schedules before proceeding

     On waiving a late payment charge, the previously calculated charges are no longer be due.

     The accounting entries are posted against the event SPWV (Special Penalty Waiver). If multiple schedules are waived as part of the same waiver operation, then system triggers a single SPWV event with separate accounting entries for each schedule. The accounting entries are posted for information and tracking purposes only.

   This topic contains the following sub-topics:

• Reversing the Waiver of Late Payment Charges