Variable Loan Early Termination Details

Purpose

To calculate Early Termination (settlement) figures for a Variable Loan.

- calculates the figures to provide a client with a settlement Quote

- terminates the loan according to the details entered

Access

1. Variable Loan Browse |  for the required account |  | 
2. Variable Loan Browse |  for the required account |  | 

Dialog Details

Process

Field	Explanation
Termination Reason	[F2] to display and  a list of early termination reasons If these have been constructed well, then valuable reporting around the reasons for Early Termination of loans and Write Offs can be generated
Early Terminate Date	Defaults to todays date - can be changed up to the next interest posting date
Write Off Principal	If require, amount of principal (Future + Current) that will be written off
Write Off Interest	If required, amount of future ledger interest that will be written off
Facility Fee Write Off	If required,  amount of facility fees that will be written off
Default Interest Write Off	If required, amount of current ledger interest that will be written off
Insurance Premium Rebate	Displays the calculated rebate amount for Financed Insurance that requires rebate on early termination
Insurance Commission	Displays the calculated commission rebate amount for Financed Insurance that required a rebate on Early Termination
	Accesses the list of fees that may be applied at termination The Fees displayed are the fee types entered via the  button on the Variable Loan Account Type
Communication Type	[F2] to display and  the appropriate quotation Communication Type that can be sent to the client to confirm the quote This should always be created on an Enquiry so that the termination amounts can be replicated
Insurer Communication Type	[F2] to display and  the appropriate Communication Type
Mark Comm as Printed	Check on if the Communication is being created for internal records only You will then not be prompted to print the Communication generated
Include Future Ledger Recurring Charges	Early Termination Enquiry Only Default to checked on Includes the Future Ledger Recurring Charges in the Future Balance
Include Current Balance Projection to Settlement	Early Termination Enquiry Only Default to checked off Check on to include projected current ledger balance movements to the settlement date This assumes that the client is not paying anything off the current balance between the date the termination quote is produced to the date of the settlement
Display Fields	There are a number of display fields on the right hand side of the dialog The Future and Current Balances are those on the account at today's date The two accrued interest amounts are predicted as at the termination date The total due is the ledger balances plus the accrued interest + fees entered

[Button]	Explanation
	Creates a Communication Recommended so that quoted Termination values are recorded
	Creates and dispatched the Communication for Printing and Emailing

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