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Contract change type*
List
Select the type of contract change from the list:
Payment day change,
Change limit,
Change monthly repayment amount,
Change fee conditions,
Change payment fee months,
Change loan period,
Change interest rate,
Change repayment conditions.
Change reason*
List
Select the loan contract change reason from the list:
Corona,
Death,
Laid off,
Sick leave,
Unemployment,
Other.
Fee*
Number
Enter the fee amount. Note: if the change fees are defined by the loan product settings, this field is greyed out. If you want to modify it, go to the loan product settings: Loans > Loan Products > find the loan product > Update.
Apply fee
Checkbox
Select the checkbox if you want to apply the fee.
Customer solvency level*
List
Select the level of customer ability to meet long-term debts and obligations:
Normally performing credit,
Change is due to the customer’s slightly weakened ability to pay,
Change is due to the customer’s seriously weakened ability to pay,
Change is due to prevent credit going to non performing credit.
New payment day*
Number
Enter the new payment day. It is a day in a month when the borrower makes loan repayments. Max is value 28. Note: this parameter is used only for the payment day change contract change type.
New loan period*
Number
Enter a new loan period in months. Note: this parameter is only used with the change loan period type.
New interest rate*
Number
Enter a new interest rate value. Note: this parameter is only used with the change interest rate change type.
New repayment amount*
Number
Enter the new repayment amount. Note: this parameter is used only with the change repayment conditions change type and change monthly repayment amount.
New payment day*
Number
Enter the new payment day when the loan payment is made. The value should be from 1 to 28. Note: this parameter is used only with the change repayment conditions change type.
New margin rate*
Number
Enter a new margin rate. Note: this parameter is used only with the change interest rate change type.
New limit*
Number
Enter a new limit amount. Note: this parameter is used only with the change limit change type.
Payment free months*
List
Select the payment free months. Note: this parameter is used only with the change payment free months change type.
Schedule re-generation rule*
List
Select the regeneration type rule:
FIXED_PAYMENT - the amount of instalments remains the same as in the original contract version.
FIXED_LENGHT - the contract scheduled length remains the same as in the original contract version.
FIXED_PAYMENT_LENGHT - the amount of instalment and the contract length remains unchanged; the difference between the amounts after re-generation is assigned to the last payment in the loan repayment schedule - fixed payment length rule.
Note: this parameter is used for the change repayment conditions contract and change interest rate change types.
Type*
List
Select the exceptions from regular payment amount:
PAYMENT_LEAVE - sets up a payment holiday without repayments,
INSTALLMENT_LEAVE - sets up a payment holiday with the interest repayments only,
PAYMENT_AMOUNT - sets up a payment holiday with a predefined repayment amount.
Note: this parameter is only used for the change repayment conditions contract change type.
Amount*
Number
Note: this parameter is used only for the change repayment conditions contract change type.
Start date*
Date
Select the payment exceptions start date. Note: this parameter is only used for the change repayment conditions contract change type.
End date (last excl)
Date
Select the payment exceptions end date. Note: this parameter is only used for the change repayment conditions contract change type.
To manage loan contracts in the BackOffice you can do the following:
The loan contract is the third step in the loan origination process after the loan offer.
You can create a new loan contract manually for a person:
Persons > Search.
Click the Identification number to access person details.
From the content menu choose Loans > Loan contracts.
On the Loan contracts page, click Create.
Loans > Search > Contracts.
Fill in the search parameters > Search.
To access the loan contract details, click the loan Contract number.
Scroll to the Repayment Conditions and choose:
Version special conditions - to see the loan version special conditions.
Contract special conditions - to see the full history of the loan contract changes.
The components section shows the list of the loan components, the balance and debt details and rate information.
Scroll to the Components.
Applies only if a borrower requested a secured loan.
To add a collateral to a loan contract:
Click the Contract number to access the loan contract details.
From the content menu, choose Collateral.
On the Collaterals page, click the Create agreement button.
As interest is calculated daily, you can have an overview of the exact amount of gathered interest for the current period. Below you will find instructions on how to find the contract interests.
To view loan contract interests:
Click the Contract number to access the loan contract details.
From the content menu, choose Interests.
If the borrower is not making the loan repayments, the loan is transferred to debt. You can terminate the loan contract by defaulting it.
To default on a loan contract:
Click the Default button.
You can close a loan contract only if all of the requirements are met.
To close a loan contract:
Click the Close button.
Once the loan contract is closed, the Tuum system updates the loan contract details page and sets the Actual closing date parameter:
The contract reactivation allows reopening the closed contract to modify the loan contract settings. To reactivate the closed loan contract:
Click the Draft version number.
Once the contract details page is opened, click the Reactivate button.
Choose the Reason code:
Incorrect repayment - if there was an incorrect repayment,
Incorrect write-off - if the loan was closed incorrectly due to the borrower’s incapability to cover the loan charges.
Other - if there were other loan-related reasons.
Write down the Description, and click the Reactivate button.
Loan contract events is a feature that allows correcting - increasing and decreasing calculated interest and penalties.
Find the loan contract in question.
Click the Contract number to access the loan contract details.
From the content menu, choose Events > Create event.
The Tuum loan module records all payments-related contract events on a loan basis. You can get a detailed overview of the loan contract events by searching for the loan contract events in the loan contract menu.
Click the Contract number to access the loan contract details.
From the content menu, choose Events > Search.
Choose the event search type:
Summary - to search for the events summary.
Details - to search for the event details. You can also download a CSV file with event details.
Balance history - to search for the balance history.
Expenses and repayments - to search for the expense and repayment events.
Below you can find the screenshots of each contract events tabs.
The loan contact view page shows the loan contract details in the following sections:
Contract details - show general loan contract information.
Dates - loan contract dates, including signing, start and invoice dates.
Repayment conditions - loan contract and contract version repayment conditions.
Versions - list of the loan contract versions.
Associated persons - list of the loan contract co-borrowers.
Note that the actions buttons located under the Associated persons section Close, Block and Default are design to close, block or default the loan contract.
Components - list of the loan components, the balance and debt details and rate information.
If the loan contract has a related servicing account, you can replace it with another servicing account. To do that:
On the loan contract page scroll to the Contracts details section.
Find the Related account parameter and click the edit sign.
Search for the related account. Click the Account number to select the account.
If the related account was selected correctly, click the check sign.
Click Yes to confirm selection.
On the loan contract page scroll to the Contracts details section.
Find the Repayment channel parameter and click the edit sign.
From the drop-down select the required repayment channel.
Click the check sign.
Click Yes to confirm the selection.
Contract versions are functionality that allows making changes to the loan contract. A contract has an unlimited number of versions.
It is only possible to have one active and one draft version at a time.
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:
Click on a use case to see more details.
Open the loan contract view page > New contract version.
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.
Click the Draft version number.
Once the Draft version is opened, click the Edit conditions button.
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.
To make a new contract version the main one, you need to activate it. To activate a new draft contract version:
Find the loan contract in question.
Click the Draft version number.
Once the Draft version is opened, click the Activate button.
If an existing draft contract version is no longer needed, you can cancel it. To cancel a draft contract version:
Find the loan contract in question.
Click the Draft version number.
Once the Draft version is opened, click the Cancel draft button.
In the Loan how-to guides section, you will find the most common use cases leading to the loan contract version change. Click on the particular scenario below to find out more.
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The loan contract is created automatically when the loan offer is accepted. Or you can , without a loan offer.
Fill in > Save.
in question.
in question.
in question.
Follow the to create the collateral agreement.
in question.
in question.
in question.
in question.
Fill in the > Submit event.
in question.
See the paragraph to find more information on how to create a new loan contract version.
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in question.
Fill in the new > Save.
in question.
Component*
List
Select
The available component types:
INT - Interest,
PRI - Principal,
PRI_P - Penalty for an unpaid principal.
Event type*
List
Select the type of the loan event. The available options:
BAL_DECREASE - Decreases balance,
BAL_INCREASE - Increases balance.
Effective date*
Date
Select the date when the loan event takes effect.
Amount + Currency*
Number, List
Enter the loan event amount, and select the currency.
Details*
Number/
Text
Enter additional information about the loan event.
Reversal amount*
Number
Enter the fee booking reversal amount.
Fee reversal reason*
List
Select the fee reversal reason:
Corona,
Laid off,
Sick leave,
Unemployment,
Other.
Customer solvency level*
List
Select the level of customer ability to meet long-term debts and obligations:
Normally performing credit,
Change is due to to the customer’s slightly weakened ability to pay,
Change is due to the customer’s seriously weakened ability to pay,
Change is due to prevent credit going to non performing credit.
Details
Number/ Text
Enter additional information about the fee reversal.
The loan contract fees menu allows you:
See below for more information about the loan contract fees management.
Find the loan contract in question.
From the content menu, choose Fee bookings.
Book new fee > fill in the new fee booking details > Save.
Find the loan contract in question.
Click the Contract number to access the loan contract details.
From the content menu, choose Fee bookings.
Fill in the search parameters > Search.
To access the fee details, click the Identifier.
Find the contract fee in question.
Click the Reverse button > fill in the fee booking reversal details > Submit.
A loan payoff preview functionality allows viewing the total amount required to pay off all contract balances and debts. By selecting a date up to the next invoice due date, the system calculates all loan contract components with a balance and/or debt.
From the content menu, select Billing > Payoff preview.
Select the Value date > Preview.
The contract schedule shows how many repayments the borrower has to close the loan contract and the expected contract closure date.
To view the contract schedule:
Click the Contract number to access the loan contract details.
From the content menu, choose Schedule.
Choose the contract version from the drop-down.
From the content menu, choose Schedule.
Scroll to the bottom of the page, click the Export CSV button.
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in question.
in question.
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Fee type*
List
Select the fee type. The available options:
ADM - Account administration fee,
BILLING_ADMINISTRATION_FEE - Billing administration fee,
CEFTIFICATE_FEE - Loan certificate fee,
CHANGE_FEE - Contract changing fee,
COF - Contract Conclusion fee,
DISBURSEMENT_FEE - Disbursement fee,
REMINDER_FEE - Reminder fee.
Fee subtype
List
Select the fee subtype. Note: the list of the fee subtypes is configurable.
Effective date*
Date
Select the date when the fee must be reversed.
Amount*
Number
Enter the fee amount.
Repayment type*
List
Select the repayment type. The available options are the following:
WITH_NEXT_PAYMENT - fee is applied with the next monthly repayment.
INSTANT - fee is applied instantly.
CAPITALIZED - fee is capitalized into the principal balance.
Details
Number/ Text
Enter additional details about the fee booking.
Billing date*
Date
The pre-filled parameter, billing date.
Due date*
Date
Enter the invoice due date.
Description*
Number/
Text
Enter additional invoice information.
Reason*
List
Select the invoice reason:
Invoice made in agreement with customer,
Invoice made on correction purposes,
Invoice made during customer request to make premature repayment,
Other.
Invoice all?
Checkbox
Select the checkbox if you want to include all components in the invoice.
PRI
Number
Enter the Principal amount and select the checkbox if necessary.
INT
Number
Enter the Interest amount and select the checkbox if necessary.
A loan contract invoice is a message to the borrower requesting the upcoming repayment amount. You can manage the loan contract invoices via the loan contract menu.
The loan contract invoices menu allows:
Find the loan contract in question.
Click the Contract number to access the loan contract details.
From the content menu, select Billing > Invoices.
Create invoice > fill in the invoice parameters > Create.
Note the the one-time invoice Due date is limited to the next invoice date minus one day. If the next invoice date is set to 19 April 2024, you can create a one-time invoice with the due date of 18 April 2024 as latest.
Find the loan contract in question.
Click the Contract number to access the loan contract details.
From the content menu, select Billing > Invoices.
Fill in the search parameters > Search.
To access the invoice information, click the Invoice ID.
The credit note functionality is used when there is an error in an already existing invoice, such as an incorrect amount. You can use the credit notes functionality to decrease the amount of each invoice line.
To create a new credit note:
Find the loan contract invoice.
Click the Create credit note button.
Fill in the credit note details > Create.
Find the loan contract invoice.
Click the Reverse repayments button.
Fill in the reversal details > Reverse.
You can find the invoice repayments that we not syncronised by the Tuum system in the dashboard:
Click the Tuum icon in the upper-left corner.
Look for the Loans section.
Find the Invoice repayment requests out of sync.
To manage the invoices out of sync, select the action and confirm the selection:
Sync repayment request - repayment request amount will be synced with the receivable debt amount.
Cancel repayment request - receivable debt amount will not be automatically repaid from the loan servicing account.
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Payment Channel*
List
Select the payment channel name.
Counterparty Name*
Number/Text
Enter the counterparty name.
Beneficiary Account ID
Number/Text
Select the beneficiary account number.
Payment Amount*
Number
Enter the payout amount.
Payment reference number
Number/ Text
Enter the payment reference number.
Details
Number/Text
Enter the payout details.
Schedule re-generation rule*
List
Select the schedule regeneration rule. The available options are the following:
FIXED_LENGHT -the contract scheduled length remains the same as in the original contract version.
FIXED_PAYMENT - the amount of instalments remains the same as in the original contract version.
FIXED_PAYMENT_LENGHT - the amount of instalment and the contract length remains unchanged; the difference between the amounts after re-generation is assigned to the last payment in the loan repayment schedule - fixed payment length rule.
Description
Number/ Text
Enter the credit note description.
Repayments will be blocked until
Date
Select the date until the repayments are blocked.
Credit all lines?
Checkbox
Select if you want to credit all lines.
You can use the loan payouts or payment instructions functionality to create on demand manual disbursements via the BackOffice.
The loan payouts menu allows:
Loans > Search > Contracts.
Click the Contract number to access the loan contract details.
From the content menu, click Payouts.
On the Search contract payouts page, click the Create payout button.
If the selected payment channel requires an account ID, the Beneficiary Account ID parameter is present. You can only search for and select an account that exists in the account module.
Click on the magnifying glass sign to search for an account. Click the Account number to select it.
Once the account is selected, you will see the account ID in the Create payout form.
Loans > Search > Contracts.
Click the Contract number to access the loan contract details.
From the content menu, click Payouts.
Fill in the search parameters > Search.
Click:
The Identifier to view the Payment instruction page.
The Action log to view the Transaction events.
The payment instruction page shows the following information:
You can click the related transfer number to check the payment transfer details.
The pre-requisite for the manual repayment is that the corresponding loan product allows MANUAL repayment channel:
Click the Contract number to access the loan contract details.
Click the Register repayment button.
Fill in the Register manual repayment details:
Enter the Repayment amount.
Select the Value date.
Enter the Repayment details.
Select the Payment channel.
Enter full Payer name.
Click Save.
If the manual repayment was registered by mistake or needs to be returned, you can make a repayment reversal.
When reversing a manual repayment, ensure that:
If required, you can change the fund repayments repayment block date. To do that:
Find a loan contract in question.
Click the Contract number to access the loan contract details.
Choose Billing > Funds from the context menu.
On the Loan contract funds page, search for the repayment that needs to be reversed.
Click the Fund identifier to open the fund details.
Click the Change block button.
Set up a new Repayments block date > Save.
Find a loan contract in question.
Click the Contract number to access the loan contract details.
Choose Billing > Funds from the context menu.
On the Loan contract funds page, search for the repayment that needs to be reversed.
Click the Fund identifier to open the fund details.
Click the Return manual cash entry button.
Enter the Return amount and Details > Confirm.
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Fill in the and select the Beneficiary Account ID.
See more about the loan product .
Find a in question.
in question.
Description
Number/ Text
Enter the reverse repayment description.
Next repayments will be blocked until
Date
Select the date until the next repayments are blocked.
Reverse all repayments?
Checkbox
Select the checkbox if you want to reverse repayments for all components.
The loan write-off is a feature for managing loan-related debts. The write-off is used when the loan repayments collection is not possible due to some reason. For example:
Bankruptcy,
Customer death,
Unrecoverable insolvency,
Fraud.
In this case, banks decide to write-off the loans that are not possible to recover and collect. Sometimes the write-off is used when the remaining loan amount is small or the bank does not have the right to collect due to the court decisions.
Find the loan contract in question.
Click the Contract number to access the loan contract details.
From the content menu, click Write-offs.
Click the Create write-off button.
Fill in the write-off details > Create.
Find the loan contract in question.
Click the Contract number to access the loan contract details.
From the content menu, choose Write-offs.
Fill in the search parameters > Search.
Click on the Identifier to open the write-off details.
Find the write-off in question and make sure that it is in the PROCESSED status.
Click the Reverse write-off button.
Fill in the Description field > Save.
The loan funds or cash is related to the loan repayments or disbursements. The funds can be received as incoming payments or as contract disbursements. See below for instructions on managing loan funds in the BackOffice.
You can transfer the funds from the servicing account to the loan contract.
Find the loan contract in question.
Click the Contract number to access the contract information.
From the content menu, choose Billing > Funds.
On the Loan contract page, click the Transfer from account button.
Fill in the transfer details:
Amount - enter the transfer amount.
Details - enter the transfer details.
Choose the servicing account.
Click Submit to create a transfer from servicing account.
Loans > Search > Funds.
Fill in the search parameters > Search.
To access the fund details, click the Fund Identifier.
The fund details page has three action buttons:
Start repayments - to start repayments.
Change block - to change the repayments block date.
Transfer to account - to transfer funds to the account.
Note that the Transfer to account button is displayed for an available fund only if a loan contract has a servicing account in the Tuum system.
If the borrower needs to allocate available funds immediately, you can do the following:
Find available funds.
Check if the funds have an active repayment block. If so, click the Change block button and remove the Repayments blocked until date > Save.
Start repayment by clicking the Start repayments button > click Yes for the confirmation.
Write-off type*
List
Select the write-off type. Currently, only one option is available:
write-off.
Description*
Text/ Number
Select the date until the repayments are blocked.
Customer solvency level*
List
Select the level of customer ability to meet long-term debts and obligations:
Normally performing credit,
Change is due to the customer’s slightly weakened ability to pay,
Change is due to the customer’s seriously weakened ability to pay,
Change is due to prevent credit from going non-performing credit.
Write-off reason*
List
Select the write-off reason:
CORONA,
DEATH,
LAID_OFF,
OTHER,
SICK_LEAVE,
UNEMPLOYED.
Write-off all?
Checkbox
Select if you want to write-off all items or not.
