5.2.4.2 Processing Rules

Grace Days

For drawdown contract, system defaults the value maintained for Grace Days at the borrower drawdown product level. However, you can edit the default value of grace days during contract input or contract amendment. During contract amendment, the amended value is applicable only to future calculations of late payment charges. While saving the drawdown, system displays the following override message:

Grace Days for drawdown is defaulted from the tranche contract, do you wish to continue?

You can accept the override message by clicking the Ok button to continue with the save process. In this case, system defaults the value for grace days from linked borrower tranche contract. If you reject the override, then system defaults the value of Grace Days from the drawdown product.