6.4 Defining Schedules for a Contract
The repayment schedules that you define for a drawdown loan product applies to all drawdown contracts involving the product. When you are entering a drawdown in the Drawdown Contract Online screen, the schedules defined for the product involving the drawdown are displayed in the Schedules tab of the screen.
You can change the attributes of the schedule for an individual drawdown that it inherits from the drawdown product.
The schedule payment type that is defined for a drawdown product (Amortized, Capitalized, or Normal) is inherited by all drawdowns involving it. This attribute cannot be changed when you enter a drawdown.
The manner in which you specify the attributes for repayment schedules for a drawdown is the same as for a normal loan contract.
- Distribute Principal
You can distribute the outstanding principal evenly across all the schedules. This can be used for a new contract and contract amendment.
- Redefinition
As part contract amendment, Schedules Details section gets enabled for modification.
For a detailed description, refer to the chapter Processing Repayments in the Loans User Manual.
Only those aspects of specifying attributes for repayment schedules that are specific to borrower tranche or drawdown contracts are explained in this topic.
This topic contains the following sub-topics: