1.4 Identifying Charge Components for a Product

On the transactions and contracts you enter in Oracle Lending, you may opt to levy charges. You can calculate charges for a contract in the following manner:

• Define a Charge Rule.
• Build a Charge Class and associate it with a rule.
• Associate a product with charge classes. These classes apply on all contracts processed under the product.
• Amend, if required, certain charge details that a contract acquires from the product under which it is processed.

You can identify the charge component for a product in the Charges Definition screen. Click Charges from the Bilateral Loans Product Definition screen to access this screen.

The steps involved in processing charges for a contract, that is, defining charge rules, defining charge classes, associating charge classes with a product, and amending charge details to suit a contract are explained in the Charge and Fees User Manual.