Fees business rule

Fees business rule

Business rules exist at originator group product level, allowing finance companies to set rules and settings that are specific to each combination of originator group and product.
The fees business rule contains the rules that will be used for applying fees to a finance agreement.

Within the asset class

1. Navigate to Configuration -> Organisational Structure -> Select Originator Group product 



2. Select Originator Group Product under Originator Groups



3. Apply the filter to find the Originator Group Product that you need to assign the newly created Secondary Credit Rating Table. Select the Finance Company, Originator Group and Product from the drop down lists and click on Apply Filter 



4. Once you have filtered the Originator Group Product, Select it and got to Actions -> Business Rules -> Fees


 
Effective Date: The date the business rule will be applied from.



Listing publish fee: Fee that can be charged to borrowers to publish or post a listing / application. Can be used by finance companies to charge for assessment.

Listing withdraw fee: Fee that can be charged to borrowers to withdraw a listing / application. 

Establishment fee table: The establishment fee table to apply to determine the establishment fee. See this article for details on establishment fee tables.

Minimum and maximum establishment fee: Regardless of the values setup in the table, this is the minimum and maximum that will be charged for establishment fees.

Management fee table: The management fee table to apply to determine the management fee

Dishonour fee: The fee to charge when a borrower payment dishonours.

Dishonour tolerance times: dishonour fees will only be charged after this many dishonours have occurred on the account.




List of fees payable by the finance company : One or many payable fees can be defined.
      Fees payable to: Who will the fees be paid to
      Type: Will the fee be percentage or amount based
      Payment frequency: how often will the fees be paid
      Values: the fee percentage or amount
      


Within Fund Control

1. Navigate to configuration > call products

2. Select the call product in the list it and got to Actions -> Business Rules -> Call Fees



Effective Date: The date the business rule will be applied from.



Management fee on fund account: Allows finance companies to charge fees on the money that investors have in their fund account. These fees will be charged to the investors based on the outstanding balance of their fund account, and will be earned by the Finance Company.



List of fees payable by the finance company : One or many payable fees can be defined.
      Fees payable to: Who will the fees be paid to
      Type: Will the fee be percentage or amount based
      Payment frequency: how often will the fees be paid
      Values: the fee percentage or amount


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