Grace Period Configuration

While creating a delinquency process type, you need to specify the following grace details using which the system calculates the trigger date for a delinquency event in the delinquency process:

• Whether you want the system to derive the grace period (in days) to calculate grace end date from the delinquency process type or through an algorithm

• The number of days of grace you want to offer from the grace start date

• Whether you want the system to set either of the following as the grace start date when the Trigger Date Calculation Mode flag is set to Usage Basis and the Usage Basis flag is set to Grace Start Date:

  • Delinquency Process Creation Date – Used when you want to set the grace start date to the date when the delinquency process is created in the system.

  • Latest Bill Due Date – Used when you want to set the grace start date to the latest due date of a bill when there are one or more overdue bills for which the delinquency process is initiated.

  • X Days after Latest Bill Due Date – Used when you want to set the grace start date after X number of days from the latest bill due date. You can specify the X number of days in the Add Days To Due Date field.