Variable Loan Early Termination Enquiry

Purpose

To calculate the termination amount on a Variable Loan to a particular date showing the accrued interest to that date and allowing for the entry of user specified termination fees.

If required, a communication can be created to support a verbal quote provided.

Access

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

Process

Field	Explanation
Termination Reason	Not required for a Quote
Early Terminate Date	Defaults to todays date The Early Terminate Date cannot exceed the Loan Account Maturity Date If the loan account has no maturity date, the termination date can be up to 2 months from today’s date.
Write Off Principal	It is unlikely this field would be completed for a quote
Write Off Interest	It is unlikely this field would be completed for a quote
Facility Fee Write Off	It is unlikely this field would be completed for a quote
Default Interest Write Off	It is unlikely this field would be completed for a quote
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
Fees	Client on  to open the dialog that allows the entry of your early termination fees
Communication Type	[F2] to display and  the appropriate quotation Communication Type that can be sent to the client to confirm the quote It is recommended that a Communication is created so the quoted termination values are recorded Then, if any dispute arises about the termination amounts, the termination quote can easily be reproduced
Insurer Communication Type	It is unlikely this field would be completed for a quote
Mark Comm as Printed	If this is a verbal quote, click the  You will then not be prompted to print the Communication generated

 if a Verbal Quote is being provided

 if a Settlement Quote is to be sent to the Client

• Related Articles

• Variable Loan Early Termination Process

  Purpose To calculate the termination amount and post the transactions required to terminate (settle) the account. Timing Termination of the loan should occur after the client has paid the termination amount due, and these funds have been cleared by ...

• 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 Variable Loan Browse | for the ...

• Early Termination Fee Details

  Purpose To setup the details for the charging of fees on Variable Loan settlement (Early Termination) Once the dee has been loaded here, a button will be available on the Variable Loan Early Termination details and Enquiry dialogs, allowing entry of ...

• Early Termination Fee Browse

  Purpose To view the Variable Loan Early Termination fees that have been established Access Accounts | Edit/View Account Types | Account Type Browse | | | | Dialog Details

• Variable Loan Control Details

  Purpose Provide Control Details for the key month end setup parameters and allow file paths to be selected for custom reports Also controls the Transaction Types used for Instalment postings, and the calculation method for the Planned Rate Change ...