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Add a One-Time Fee to a Guarantee

Updated

There are two main categories of fees in Fairways Guarantees:

  • One-time fees: fixed fees calculated on a rate basis.
  • Recurring fees: calculated periodically on a rate basis as agreed with the guarantor.

 

Prerequisites

 

Add a One-Time Fee
  1. Open a guarantee.
  2. Navigate to the Financial Fees section.
  3. Click Add > Add One-Time Fees.

Guarantee_Fee_Financial_EN.png

  1. Complete the form with all relevant details.

Note: Fields marked with an asterisk * are mandatory.

Field Description
From Payer.
To Receiver.
Type Fee type.
Invoicing Type

Fairways Guarantees automatically calculates fees according to 3 invoicing types:

  • Invoicing: Fees paid by the principal(s) to the guarantor(s).
  • Markup: Fees charged by the principal to the applicant, according to the internal rules of the group in terms of transfer pricing, for acting as an intermediary.
  • Refund: Fees paid by the principal but due to being paid by the applicant.
Date Date at which the fee occurs.
Currency Currency of the fee.
Amount Amount of the fee. 
Comment Additional details about the fee. 
  1. Click Save.

Fee_OneTime_Add_EN.png

The new one-time fee displays.

Guarantee_Fee_Financial_Fee_OneTime_Added_EN.png

 

 

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