Covenants in Fairways Debt are agreements specifying actions and thresholds that the borrower must perform and respect. Covenants protect lenders when borrowers do not meet their requirements.
Metrics define the measurements to meet in a covenant. You can apply platform metrics to any accounts in the platform, whereas you can only apply account metrics to a specific account.
Notes:
- Only administrators can create account metrics.
- Only Finance Active administrators can create platform metrics.
Prerequisites
Contact your Finance Active consultant to:
Navigate to the Account Metrics
- Log in to your Fairways Debt account and select a customer account, if relevant.
- Navigate to Applications
> Account Administration.
- Click Account > Account Metrics.
In this example, we log in to the Main City account.
Create a Metric in the Account
- Click Add Metric.
- Select a metric type.
|
Metric Type |
Description |
|---|---|
|
Manual Metric |
Custom data to enter. |
|
Formula Metric |
Custom computation formula to configure. |
- Complete the form with all relevant details.
Note: Fields marked with an asterisk * are mandatory.
|
Field |
Description |
|---|---|
|
Name |
Metric name. |
|
Description |
Additional details about the metric. |
|
Format |
Metric data type. Note: Different formats display depending on the metric type selected. |
|
Field |
Description |
|---|---|
|
Perimeters |
Borrower(s) to which the metric applies. |
|
Field |
Description |
|---|---|
|
Formula |
Note: This field only displays for formula metrics. Metric computation formula. |
- Click Apply.
If you have entered a description, you can hover over the information icon
Tip: Click the clock icon on the top-right corner to view the change history on a dedicated panel.