Contract version

Contract versions are functionality that allows making changes to the loan contract. A contract has an unlimited number of versions.

All new contract versions are created in DRAFT status. To make the new version active, you must activate the draft, which replaces the current version. Once activated, the previous version is marked as REPLACED, and the new version becomes ACTIVE.

If necessary, you can cancel a draft version, setting its status to CANCELLED.

Common use cases for loan contract versions:

• Setting up a payment holiday,

• Topping up a loan contract,

• Changing the loan contract end date.

Click on a use case to see more details.

Create new contract version

1. Find the loan contract in question.

2. Open the loan contract view page > New contract version.

3. Fill in the new contract version details > Save.

Find loan contract versions

You can see the list of the available contract versions on the loan contract page. Scroll to the Versions section. To view the version details, click the Version number.

Edit loan contract versions

1. Find the loan contract in question.

2. Click the Draft version number.

3. Once the Draft version is opened, click the Edit conditions button.

4. Modify the loan contract version parameters:

   • Click the Recalculate & Save button to update the loan contract interest, principal and fee parameters.

   • Click the Save button to save the loan contract parameters.

Activate contract version

To make a new contract version the main one, you need to activate it. To activate a new draft contract version:

1. Find the loan contract in question.

2. Click the Draft version number.

3. Once the Draft version is opened, click the Activate button.

Cancel contract version

If an existing draft contract version is no longer needed, you can cancel it. To cancel a draft contract version:

1. Find the loan contract in question.

2. Click the Draft version number.

3. Once the Draft version is opened, click the Cancel draft button.