upfrontFee - Upfront Fees

Upfront fees in Fairways Debt can be paid on a specific date during the transaction life.

<loan>
<fees>
<upfrontFee>
<reference>...</reference>
<amount>...</amount>
<currency>...</currency>
<paymentDate>...</paymentDate>
</upfrontFee>

</fees>
</loan>

Tag

Item

Description

upfrontFee

Mandatory

Main

Characteristics to apply to the fee.

reference

Mandatory

Secondary

Unique reference of the fee.

amount

Mandatory

Secondary

Amount to pay.

currency

Mandatory

Secondary

Currency of the fee.

paymentDate

Optional

Secondary

Date on which the fee must be paid.

Notes:

  • The payment date must be:
      • Equal to or later than the transaction trade date, <tradeDate>.
      • Earlier than or equal to the transaction maturity date, <endDate>.
  • If no payment date is entered, the payment date defaults to the transaction start date, <startDate>.

 

To add an upfront fee to a transaction, e.g. a standard transaction:

  1. Add the <fees> tags in the <standardLoan> tags of the transaction.
<standardLoan>
<fees>
</fees>

</standardLoan>
  1. Add the <upfrontFee> tags in the <fees> tags.
<standardLoan>
<fees>
<upfrontFee>
</upfrontFee>

</fees>

</standardLoan>
  1. Add the <reference> tags in the <upfrontFee> tags.
<standardLoan>
<fees>
<upfrontFee>
<reference></reference>
</upfrontFee>
</fees>

</standardLoan>
  1. Enter the fee reference.

In this example, we enter 9024-01.

<standardLoan>
<fees>
<upfrontFee>
<reference>9024-01</reference>
</upfrontFee>
</fees>

</standardLoan>
  1. Add the <amount> tags in the <upfrontFee> tags.
<standardLoan>
<fees>
<upfrontFee>
<reference>9024-01</reference>
<amount></amount>
</upfrontFee>
</fees>

</standardLoan>
  1. Enter the fee amount.

Note: Use a full stop . for decimals.

In this example, we enter 25.7.

<standardLoan>
<fees>
<upfrontFee>
<reference>9024-01</reference>
<amount>25.7</amount>
</upfrontFee>
</fees>

</standardLoan>
  1. Add the <currency> tags in the <upfrontFee> tags.
<standardLoan>
<fees>
<upfrontFee>
<reference>9024-01</reference>
<amount>25.7</amount>
<currency></currency>
</upfrontFee>
</fees>

</standardLoan>
  1. Enter the fee currency.

In this example, we enter USD for the American dollar.

<standardLoan>
<fees>
<upfrontFee>
<reference>9024-01</reference>
<amount>25.7</amount>
<currency>USD</currency>
</upfrontFee>
</fees>

</standardLoan>

 

If the fee payment date is different from the transaction start date:

  1. Add the <paymentDate> tags in the <upfrontFee> tags.
<standardLoan>
<fees>
<upfrontFee>
<reference>9024-01</reference>
<amount>25.7</amount>
<currency>USD</currency>
<paymentDate></paymentDate>
</upfrontFee>
</fees>

</standardLoan>
  1. Enter the fee payment date in the year-month-day format, i.e. YYYY-MM-DD.

In this example, we enter 2021-05-01 for 1 May 2021.

<standardLoan>
<fees>
<upfrontFee>
<reference>9024-01</reference>
<amount>25.7</amount>
<currency>USD</currency>
<paymentDate>2021-05-01</paymentDate>
</upfrontFee>
</fees>

</standardLoan>

Fee_Upfront_EN.png

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