Define payment holiday terms

Prior to creating the new contract version, the lender should negotiate the following contract conditions with the borrower:

1. Payment holiday duration. That will define the start and end date.

2. The amount of exception that the borrower wants to reduce from the repayment:

   • The total amount - to skip the repayment.

   • The principal amount - to pay only the interest.

   • The agreed amount - to reduce the repayment to a fixed amount.

3. Contract repayment schedule recalculation:

   • The scheduled length remains the same as in the original contract version - fixed length rule.

   • The amount of instalments remains the same as in the original contract version - fixed payment rule.

   • The amount of instalment and the contract length remains unchanged. However, the difference between the amounts after re-generation is assigned to the last payment in the loan repayment schedule - fixed payment length rule.