7.8.7 Moving Schedule Dates across the Month

If you have chosen to move a schedule falling due on a holiday to the next working day, or to the previous working day, and it crosses over into another month, the schedule date is moved only if you so indicate. If not, the schedule date is kept in the same month.

Example

Scenario 1:

You have defined a repayment schedule that falls due on 30 April 1998. This happens to be a holiday. You indicated that in case of a holiday, the schedule date is to be moved forward to the next working day.

If you also indicated that the schedule can be moved across the month, then the schedule is automatically moved to 1 May 1998 (the next working day).

If you disallowed movement across the month, but indicated forward movement for the schedule, the schedule date falls on the holiday without any movement.

Scenario 2:

You defined a repayment schedule that falls due on 1 May 1998. This happens to be a holiday. You indicated that in case of a holiday, the schedule date is to be moved backward to the previous working day.

If you also indicated that the schedule can be moved across the month, then the schedule is automatically moved to 30 April 1998, the previous working day.

If you disallowed movement across the month, but indicated backward movement for this schedule, the schedule date falls due on the holiday without any movement. The idea being that the schedule is not moved across months.