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Fees - Update a Recurring Fee in a Guarantee

Updated

Once you have added fees to a guarantee in Fairways Guarantees, update the fees, e.g. when they are paid.

 

Prerequisite

 

Navigate to the Guarantees Section
  1. Log in to your Fairways Guarantees account.
  2. Select a customer account.
  3. Navigate to Guarantees.

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Update a Recurring Fee in a Guarantee
  1. Click a guarantee to open its profile.

Guarantees_EN.png

  1. Navigate to the Financial Fees section.
  2. Click Edit beside the fee to edit.

Guarantee_FinancialFees_EN.png

  1. Complete the form with all relevant details.

Note: Fields marked with an asterisk * are mandatory.

Field Description
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.
Payment Status Status of the fee payment.
From Payer.
To Receiver.
Start of Period Start date of the fee phase.
End of Period End date of the fee phase.
Calculated Fees Amount to pay.
Payment Date Actual payment date of the fee.
Fixing Fixing applied.
Paid Fees Actual amount paid.
Comment Additional details about the fee.
  1. Click Save.

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The fee updates.

Fee_Recurring_Updated_EN.png

 

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