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.
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.
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.
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Fill in the new > Save.
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