1.6 Associating the Fee Component with a product

In Oracle Lending, you have the option to collect and accrue a certain amount as fee, upfront at the time of booking a contract. These are the steps involved in processing contracts in Oracle Lending, for which the fee components need to be accrued:

• Defining a fee component.
• Associating the fee component with products.
• Entering the fee details at the contract level.
• Accrual Processing of fee components.

After defining a fee component, you need to link the fee component to a product in Oracle Lending. Consequently, you can collect and accrue fees on all contracts associated with that product.

Click Fees in the Bilateral Loans Product Definition screen of the (for which the fee accrual functionality is applicable) to access the Fee Details screen to link the fee components to a product.

For details relating to upfront fee collection, refer the Processing Upfront Fee Collection and Accruals section in the relevant modules.

For more information about fee component, refer to the Charges and Fees User Manual.