Automatic Rollover of a Deal

A Rollover is renewal of a deal. For a deal to be rolled over it:

• Must be past its Maturity Date
• Must not have been liquidated

If the user has specified automatic liquidation and automatic rollover for a deal, the old deal is liquidated and a new one initiated on the Maturity Date of the deal during the BOD (Beginning of Day) run of the Automatic Contract Update function.

If the Maturity Date falls on a holiday, then the liquidation and the rollover is processed as per your holiday handling specifications in the Branch Parameters screen.

If the user specified that processing has to be done today (the last working day before the holiday) for automatic events right up to the day before the next working day, the schedule falling on the holiday is liquidated during end of day processing on the last working day before the holiday.

If the user has specified that processing has to be done only up to the System Date (today), then only the events scheduled for today (the last working day before the holiday) is processed. The events of the holiday is processed on the next working day after the holiday, during beginning of day processing.

If the user has defined that the deal be liquidated manually, the user cannot roll it over automatically.

When a deal is rolled over or renewed for the interest, commission, charge or fee components, it can assume the following attributes:

• Those of the product involving the deal being rolled over
• Those of the original deal itself

Specify this at the time of deal processing (of the old deal).