Penalty calculation principles

Here you will find a list of fundamental principles of calculating the penalty in Tuum:

• Penalty is calculated daily.

• Penalty calculation considers multiple partial repayments and calculates penalty accordingly.

• Penalty is recalculated/decreased in case of repayments with past value date.

• Penalty is calculated on the level of overdue receivable/invoice lines.

• Calculated penalty will be automatically included in the next upcoming regular invoices. The due date of the penalty repayment is the due date of the invoice.

• You can check the total of the current calculated penalty balance, invoice penalty amount and overdue penalty amount in the component list of the contract.