The credit line products are configured via the loan product setup page:
Loans > Products > Loan Products > Add new product.
By setting the product group parameter, you can choose whether the loan product functions as a credit line or revolving credit.
Fill in the loan Product group parameter by selecting between:
Line of credit,
Revolving credit line.
You can set up a termination date for the credit line product:
Infinite credit line has no date of termination. The bank will allow the agreement to continue as long as the account remains in good standing.
Specific date for a definite credit line or a closed-end credit line. Once the end date is reached, the borrower is liable to pay back the entire sum borrowed.
To set the Loan term rule select between:
Infinite,
Specific date.
You can define the limit usage period when the borrower can access and utilise funds up to the maximum approved credit limit. When the limit usage period finishes, the fund is not available anymore.
Set the Limit usage end by selecting between:
Specific date,
Contract end.
Set the disbursement rule on demand to allow manual loan disbursements.
Select the Disbursement rule: On demand.
If the on demand disbursement rule is not selected, it is impossible to create manual loan disbursements.
You can set up a credit line with or without a repayment schedule. To set the Schedule parameter, select between:
No schedule,
Receivable based - the expected schedule is generated based on the receivable formation rule.
Adjusted receivable based - same as receivable based. However, if any payment date falls within holidays or weekends that date will be adjusted (postponed to a day after holiday).
You can set up a credit line with or without regular invoicing.
To set the regular invoicing enabled, select the checkbox Regular payment needed.
If the regular payment is enabled, configure the receivable formation rules. Select the loan components that are included/excluded to/from periodic invoices.
