5.21.1.3 Capturing Investor wise Funding Details

The system updates the Unfunded Amount for each investor after each Disbursement or Repayment. All the fields in Participant Details frame are display fields.

On receiving the funds from an investor, you have to update the Funds Sighted field to Yes for that investor. The current application date is defaulted to the payment date and actual receipt date and you are allowed to modify these dates. The complete unfunded amount is defaulted as the funding amount.

For the fronted investors, it is assumed that the investor has funded and the system populates the funding details internally and the unfunded amount is decreased accordingly. Actual receipt date is updated with the current application date. This update happens at the time of saving the instruction for the current dated or back dated disbursement events. For the future dated disbursement events, this defaulting happens as part of the Beginning Of Day Batch processing.

The system does not allow Partial funding if the funding is due across many disbursement events. The complete amount should be funded when the Fund is sighted for an investor.

Example:

In case the investor has not funded few of the last disbursements, he cannot fund for only the first VAMI while second VAMI is already in place.

If there are multiple investors funding as part of the current activity, then payment date should be the same for all the investors. However, actual receipt date can be different for each investor.

Payment Date/Actual Receipt Date cannot be beyond the latest disbursement event value date. In case if the funding is due across multiple disbursement events for any investors, such investors are expected to fund all the pending disbursements together on or after the latest disbursement event date. (Future dated disbursements are not considered here). Payment date/Actual Receipt date cannot be in the future.

If there are multiple investors funding on the same date for a contract, you should capture the funding details across all investors in a single activity to facilitate the combined payment message to the borrower. However, system allows the user to capture the funding details for various investors on different time period in a day. In such cases, separate payment messages are generated for each distinct funding activity.

Payment date is defaulted to the Payment date in the Event Wise Fronting Details tab and you are not allowed to modify it.

Actual Receipt Date is defaulted to the Actual Receipt date in the Event wise Fronting Details Tab and you are allowed to modify it during subsequent activities.

On saving the fronting details and/or funding details, the system triggers the event SFNT. If funding details are captured as part of the current instructions, the screen, Payment Details is displayed. It shows the funded and fronted amount captured for the current activity.

This screen displays the investor funding details, bank Fronting amounts (If applicable) and also the total amount to be paid to the borrower.

In case of any funding by an investor for whom bank has fronted, the amount is not paid to the borrower. Instead it is settled with the bank Sighting Fund GL specified as per the branch parameter setup. Upon confirmation and its authorization in the Payment Processing browser, system populates the new payment infrastructure (if funding details captured for any of the investors).

The event BPMT processes the disbursement accounting entries and sends payment messages to the borrower on receiving the fund from the investor(s). This event is triggered on the borrower and affected investor contracts.

It also generates the Payment message for the borrower contract for the funded amount (funded by the investors or Fronted by bank).

In case of backdated and current dated disbursements, the accounting entries and payment messages match with the current application date. In case of future dated disbursements, the accounting entries and payment messages match with the event value date.

The system processes the future dated disbursements (INIT/VAMI) for which the fronting details are captured in advance.

When the funding is done by the Fronted investors, BPMT is triggered for the funded amount, but Payment Message is not generated for the amount which is funded against bank fronted amount.

You can view the borrower payment details by clicking the Borrower Payment History button in the Investor Funding Details Tab in the Payment Processing Browser.

You can view the funding details for each investor by clicking Funding History in the Investor Funding Details Tab in the Payment Processing Browser.