Postponement Functionality

Postponement Functionality

This functionality is located at Contract -> Financial Information -> Postponement

This functionality includes 3 options:

1. Interest accrual process until the end of the current tranche.

Accrual can be used if the postponement process is initiated in the middle of a tranche and it is necessary to accrue interest until the end of the tranche with the current date in order to distribute it in the new schedule. More relevant for the "Credit Holiday" postponement type.

2. Early prepayment offset.

The process should be initiated when there is a Prepayment on Principal or Prepayment on Interest on the contract balance, in order to early repay all accrued interest and part of the Principal. The new schedule will be calculated based on the remaining Principal!

3. Schedule recalculation process with Payment Postponement *

Principal Postponement – providing a payment holiday on Principal repayment for the period specified in the Postponement Term field (number of tranches), starting from the current tranche. The loan term is extended by the duration of the provided holiday. "Credit Holiday" – providing a payment holiday on Principal and interest payments for the period specified in the Postponement Term field (number of tranches), starting from the current tranche. The loan term is extended by the duration of the provided holiday. All accrued debts (interest, penalties) will be distributed in the new schedule as "Postponed Interest/Penalties", according to the selected method of distributing postponed amounts (exception - the period of full credit holiday).

End date of current tranche: dd.mm.yyyy The specified payment date will be transferred to the new schedule as the first repayment date. In case of Principal Postponement - the first interest payment date, in case of full credit holiday - the first fully preferential tranche.

The following values must be specified:

1) Recalculation type: Credit Holiday (fully preferential period without interest accrual) or Principal Postponement (preferential period with interest accrual for that period)

2) Types of distribution of postponed amounts across tranches of the new schedule must be selected: to the first tranche, to the last tranche, in equal shares across non-preferential tranches.

3) Postponement term: in this field, specify the number of preferential tranches.

To enable this functionality, contact your personal manager.

More detailed information - https://www.youtube.com/watch?v=osHyZgAiJ34&t