Configure a Prepayment Penalty for a Transaction

BETA FEATURE! Please contact your consultant for more details.

In Fairways Debt, you can configure prepayment penalties for a transaction. 

 

Prerequisites

 

Navigate to the Debt & Derivatives Application
  1. Log in to your Fairways Debt account, e.g. https://login.financeactive.com/eu.
  2. Select a customer account.
  3. Navigate to Applications > Debt & Derivatives.

 

Configure a Prepayment Penalty for a Transaction
  1. Open a standard transaction.

Portfolio_EN.png

  1. Navigate to Prepayment Penalties.
  2. Select a prepayment penalty type.
  3. Click Add Prepayment Penalty.

PrepaymentPenalties_EN.png

  1. Complete the form with all relevant details.

Note: Fields marked with an asterisk * are mandatory.

Field

Description

Name

Reference of the prepayment penalty.

Start Date

Date from which the prepayment penalty policy applies.

Notice Period

How much time before the next payment date the borrower can notice the lender about their repayment request.

Configuration

Calculation of the fees applied for the early repayment.

  1. Click Apply.

PrepaymentPenalty_Create_EN.png

The prepayment penalty policy displays.

PrepaymentPenalty_Created_EN.png

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