Loading...
Loading...
Loading...
Loading...
Once you select a content section, it appears in the loan contract view.
Details: General loan contract information includes details such as the contract number and loan type. It also covers information related to the loan contract's origination, as well as the preparation and activation dates.
Related Persons: Information about the borrower and other associated person accounts related to the loan contract, including co-borrowers, guarantors, co-guarantors, and co-signers.
Loan Conditions: Details about the loan contract and amount, APR, and schedule.
Contract Limit: Information about the loan contract and available credit limits.
Contract Period: Details about the loan contract duration, number of payments, and end date.
Disbursement Rules: Details of the loan contract disbursement rules.
Balances: A list of loan component types and their balance information.
Repayment Conditions: Details about the monthly repayment amount, including the payment day, next invoice date, and payment due date. It also includes repayment information such as the repayment account number. Additionally, this section may contain temporary repayment conditions.
Interest and interest conditions: Loan contract interest details and information about the loan contract rate. To view past rate conditions, select the Show history checkbox.
Fees: A list of loan contract fees and repayment rules. If a fee is charged at loan contract activation, it includes a list of related contract change types. Additionally, if activation fees apply, temporary fee conditions may be present.
Penalty Conditions: Details about penalties related to the loan contract.
Custom Fields: Additional, customised loan contract information.
Comments: Loan contract comments. To add a comment, click the Add button.
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
To manage loan contracts in the BackOffice, you can do the following:
You can create a new loan contract manually for a person:
Go to Persons > Search.
Click the Name to access the person details page.
From the content menu choose Loans > Loan contracts.
On the Loan contracts page, click Create.
Loans > Search > Contracts.
Click the Contract number to open the loan contract page.
Persons > Search and locate the person-borrower who has a loan contract.
Click the person Name to access the person details page.
From the content menu, select Loans > Loan contracts.
Click the Contract number to open the loan contract page.
Collateral > Assets.
Search for asset > click the Asset ID to access the asset details page.
Scroll to the Collateral agreement page > click the Credit contract to open the loan contract details.
Collateral > Search agreements.
Click the Agreement ID to access the collateral agreement details.
Scroll to the Collaterals section > Contract number.
Applies only if a borrower requested a secured loan.
To add a collateral to a loan contract:
Find the loan contract in question.
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.
Blocking a loan contract prohibits loan disbursements. If loan disbursements need to be reactivated, unblock the loan contract.
To block a loan contract:
Find a loan contract in question.
Click the Block contract button.
Confirm your action.
To unblock a loan contract:
Find a loan contract in question.
Click the Unblock contract button.
Confirm your action.
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:
Find the loan contract in question.
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:
Find the loan contract in question.
Click the Reactivate button.
Select 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.
Optionally enter the description and click Reactivate.
,
,
,
,
,
,
.
Fill in > Save.
You can find loan contracts via via or modules. If a loan is related to a collateral asset, you can also find it via or via .
Follow the to create the collateral agreement.
in question.
Once you select a content section, it appears in the contract version view.
Version Details: Information about the loan contract version, including its status, origination, and relevant dates. It also includes a list of Version Changes, specifying the loan contract change type used to create the version and any additional changes. Activation fee bookings are added based on the version change types.
Version conditions: Loan version contract conditions, including the contract and net amount, APR and schedule.
Contract limit: Loan contract limit amount and limit usage date.
Contract period: Initial and remaining number of payments and loan contract end date.
Disbursement rules: Details of the loan contract disbursement rules. This section is available only if the loan product has associated disbursement rules.
Repayment conditions: Monthly repayment amount and repayment frequency.
Interest: Information about interest conditions, including rates, rate type, calculation method.
Commitment fee: Information about the commitment fee (interest on the available limit). This section is available only if the commitment fee is activated for the loan product.
Fees: Fee information.
Penalty conditions: Details about the penalty type, rate and calculation method. This section is available only if penalty components are added to the loan contract.
Organisation unit*
List
Select the organisation unit.
Loan type code*
List
Select the loan product that you want to use to create a loan contract.
Schedule type
List
This field is filled automatically once the loan product is selected.
Serving account
Click pencil sign
Select the loan serving account.
Interest rate type
List
This field is filled automatically once the loan product is selected.
Reference rate type
List
This field is filled automatically. It has value only if the loan product has a floating rate.
Interest rate*
Number
Enter the loan interest rate.
Default margin rate
Number
This field is filled automatically is applicable.
Margin rate*
Number
Enter the margin rate. This field is applicable only if the loan product has a floating rate.
Base rate
Number
This field is filled automatically if applicable.
Reference rate cap type
Text/Number
This field is filled automatically if applicable if the loan product has a floating rate.
Interest rate cap
Text/Number
This field is filled automatically if applicable if the loan product has a floating rate.
Contract amount*
Number
Enter the loan contract amount.
Loan period*
Number
Enter the loan period in months.
Score
Number
Enter the loan contract score.
Sale channel*
List
Enter the sale channel name.
Payment day*
Number
Enter the day in the month when the loan payment is made. The value should be from 1 to 28.
Monthly repayment amount*
Number
Enter the monthly repayment amount. Note: this parameter is available for instalment loan products or credit line products with a fixed repayment amount rule.
Monthly repayment rate*
Number
Enter the monthly repayment rate. Note: this field is available if the loan product is a credit line or a revolving credit line with the repayment amount rule = percentage of principal balance.
Max invoice amount
Number
Enter the maximum invoice amount. Note: this field is available if the loan product is a credit line or a revolving credit line with the repayment amount rule = percentage of principal balance.
Min invoice amount
Number
Enter the minimum invoice amount. Note: this field is available if the loan product is a credit line or a revolving credit line with the repayment amount rule = percentage of principal balance.
Payment free month
List
Select payment free month.
Repayment channel
List
Select the repayment channel from the list.
Campaign
List
Fee type
Text
The fee type. This field is filled up automatically.
Value*
Number
Enter the fee amount.
Amount calculation rule
Text
The amount calculation rule. This field is filled up automatically.
Booking rule
Text
The fee booking rule. This field is filled up automatically.
Repayment rule
Text
The fee repayment rule. This field is filled up automatically.
Payment Channel*
List
Select the payment channel.
Counterparty Name*
Text/Number
Enter the counterparty name.
Payment Amount*
Number
Enter the payment amount.
Payment reference number
Number/Text
Enter the payment reference number.
Details
Number/Text
Enter the payment details.
Contract version is functionality that allows making changes to the loan contract. A contract has an unlimited number of versions.
Draft - the initial status of a loan contract version.
Draft confirmed - assigned when an initial loan contract draft version is confirmed.
Waiting for signature - appears if the loan product configuration requires the borrower's signature.
Waiting for activation - an intermediary status that appears once a draft is confirmed or signed.
Accepted - assigned when a loan contract version is accepted.
Activating - an intermediary status that appears before the contract version becomes active
Active - the primary contract version status, assigned once the draft is fully activated.
Blocked - indicates that the contract version is blocked. The version can be unblocked if necessary.
Default - appears when a loan contract is defaulted.
Replaced - a final status assigned when a new draft version is activated, replacing the current active version. Once replaced, the version cannot be reactivated.
Canceled - a final status assigned when a draft version is canceled. Once canceled, the version cannot be reactivated.
Closing - an intermediary status that appears before a contract version is closed.
Closed - indicates that the contract version is closed.
Reactivating - assigned when a closed loan contract is being reactivated.
It is only possible to have one active and one draft version at a time. However, you can have multiple top-up draft versions.
Common use cases for loan contract versions:
Changing repayment conditions,
Changing interest conditions,
Changing fee conditions,
Changing penalty conditions,
Changing limit amount.
In order to manage the loan contract version, the BackOffice offers the following options:
To create a new contract version, do the following:
Find the loan contract in question.
Go to the Contract tab > click the Change contract button.
Review the list of all existing versions.
Click the desired version to open it.
To activate a draft version, do the following:
Click the Activate button.
Confirm the draft activation.
To cancel a draft version:
Click the Cancel draft button.
Confirm the draft cancellation.
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.
Find loan contract in question.
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.
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.
To manage loan contract fees in the BackOffice, you can do the following:
Below you will find more information about the loan contract fees management.
Find the loan contract in question.
From the content menu, choose Fee bookings.
On the Search contract fees page, click Book new fee.
Click 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 Booking reversal form:
Enter the Reversal amount.
Select the Fee reversal reason:
Unemployment,
Laid off,
Sick leave,
Corona,
Other.
Select the Customer solvency level:
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 non performing credit.
Click Submit to confirm reversal.
Activation Fee Bookings: Activation fee bookings related to the contract version. These bookings can be added to the contract version only if at least one of the change types listed in Version Changes is linked to an activation fee in the loan product configuration (i.e., a fee component with a fee booking rule set at activation). Note: you can modify the activation fee bookings, by clicking the change icon.
Select a campaign if it applies. Note: you can select multiple campaigns. See more about campaigns .
,
,
,
,
,
,
.
Fill in the new > Create.
Click the sign on the Version tab to view a list of available contract versions.
a draft version.
a draft version.
Fill in the > Submit event.
,
,
.
Fill in the .
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.
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.
.svg?alt=media&token=ba0ba7da-e889-4e8c-909c-7b7334b624f3)
Contract change type*
List
Select the type of contract change from the list:
Change limit,
Change monthly repayment amount,
Change fee conditions,
Change payment free months,
Customise schedule,
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
This is a non-editable field displaying the total activation fee applicable to the selected contract change type. The fee is calculated based on the loan product configuration. If no activation fees apply, the value is 0.
Note: to modify the fee settings, update the loan product configuration: 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 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
Fixed payment -
the amount of instalments remains the same as in the original contract version if change interest type is selected.
the amount of instalments can be updated and new monthly repayment amount is set if the change repayment conditions type is selected.
Fixed length - the contract scheduled length remains the same as in the original contract version.
Fixed payment and length -
the amount of instalment and the contract length remains unchanged if change interest type is selected. The difference between the amounts after re-generation is assigned to the last payment in the loan repayment schedule - fixed payment length rule.
the amount of instalments and contract length can be updated if the change repayment conditions type is selected.
Note: this parameter is used for the change repayment conditions contract and change interest rate change types.
Exceptions from regular rate
Plus icon
Click the plus icon to add exceptions from the regular rate. Note: this parameter is used for the change interest rate change type.
Exceptions from regular rate:
Type*
List
Select exceptions from the regular rate:
Interest leave - sets conditions when the borrower does not pay the interest for defined period.
Temporary rate - set a temporary rate for the loan contract.
Note: this parameter is used for the change interest rate change type.
Exceptions from regular rate:
Interest rate*
Number
Enter the temporary interest rate. Note: this parameter is used for the change interest rate change type when a temporary rate exception is selected.
Exceptions from regular payment amount
Plus icon
Click the plus icon to add exceptions from the regular payment amount. Note: this parameter is used for the change repayment conditions change type.
Exceptions from regular payment amount:
Type*
List
Select the exceptions from the regular payment amount:
Payment leave - sets up a payment holiday without repayments,
Instalment 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.
Exceptions from regular payment amount:
Amount*
Number
Enter the payment amount. Note: this parameter is used for the change repayment conditions change type when a payment amount type exception is selected. when the type is payment amount.
Exceptions from contractual fee amount
Plus icon
Click the plus icon to add exceptions from the contractual fee amount. Note: this parameter is only used for the change fee conditions contract change type.
Exceptions from contractual fee amount:
Exception fee amount*
Number
Enter the exception fee amount. Note: this parameter is only used for the change fee conditions contract change type.
Start date*
Date
Select the exceptions start date. Note: this parameter is used to set up exceptions from contractual fee amount, exceptions from regular payment amount, and exceptions from regular rate.
End date (last excl.)
Date
Select the exceptions end date. Note: this parameter is used to set up exceptions from contractual fee amount, exceptions from regular payment amount, and exceptions from regular rate.
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:
Find the loan contract in question.
Click the Contract number to access the loan contract details.
From the content menu, choose Schedule.
Choose the contract version from the drop-down.
Find the loan contract in question.
Click the Contract number to access the loan contract details.
From the content menu, choose Schedule.
Scroll to the bottom of the page, click the Export CSV button.
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.
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.
Find the loan contract in question.
From the content menu, select Billing > Payoff preview.
Select the Value date > Preview.
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.
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:
Click the Create credit note button.
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.
The pre-requisite for the manual repayment is that the corresponding loan product allows MANUAL repayment channel:
Find a loan contract in question.
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 Register.
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.
From the content menu, 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.
From the content menu, 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.
Note: the is a lookup parameter, and its values can be configured.
Note: the is a lookup parameter, and its values can be configured.
,
.
Fill in the and select the Beneficiary Account ID.
,
,
,
,
.
Create invoice > fill in the > Create.
.
Fill in the > Create.
.
See more about the loan product .
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.
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.
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.
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.
The loan contract communications are related to invoicing notifications and payment reminders.
Find a loan contract in question:
Loans > Search > Contracts.
Click the Contract number to open the loan contract page.
Persons > Search and locate the person-borrower who has a loan contract.
Click the person Name to access the person details page.
From the content menu, select Loans > Loan contracts.
Click the Contract number to open the loan contract page.
From the content menu, choose Communication.
Fill in search parameters > Search.
The loan contract page displays loan contract details and provides options for managing loan contracts.
Loans > Search > Contracts.
Click the Contract number to open the loan contract page.
Persons > Search and locate the person-borrower who has a loan contract.
Click the person Name to access the person details page.
From the content menu, select Loans > Loan contracts.
Click the Contract number to open the loan contract page.
Collateral > Assets.
Search for asset > click the Asset ID to access the asset details page.
Scroll to the Collateral agreement page > click the Credit contract to open the loan contract details.
Collateral > Search agreements.
Click the Agreement ID to access the collateral agreement details.
Scroll to the Collaterals section > Contract number.
At the top of the loan contract page there are two tabs:
Contract Details: Displays information about the current contract version. It also allows viewing details of previous versions, including balances and aspects affecting the loan contract, such as interest rate reference changes.
Contract Versions: Displays details about all existing contract versions.
The content sidebar is located on the right-hand side and consists of:
The action buttons define the loan contract management options.
Change contract - to create a new contract version. The available types of changes depend on the loan product configuration and loan group setup. These include:
Change limit,
Change fee conditions,
Change interest rate,
Change monthly repayment amount,
Change repayment conditions,
Customise schedule,
Payment free months,
Change loan period.
Create Top-up version - to create a new top-up contract version.
Block contract - to block the contract.
Unblock contract - to unblock the contract.
Close contract - to close the loan contract.
Default contract - to default the loan contract if the borrowed did not complete the financial agreements.
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:
Loans > Search > Contracts.
Click the Contract number to open the loan contract page.
Persons > Search and locate the person-borrower who has a loan contract.
Click the person Name to access the person details page.
From the content menu, select Loans > Loan contracts.
Click the Contract number to open the loan contract page.
From the content menu, click Write-offs.
Click the Create write-off button.
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.
Loan funds or cash are related to loan repayments and disbursements. Funds can be received as incoming payments or contract disbursements. See the instructions below for 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:
Loans > Search > Contracts.
Click the Contract number to open the loan contract page.
Persons > Search and locate the person-borrower who has a loan contract.
Click the person Name to access the person details page.
From the content menu, select Loans > Loan contracts.
Click the Contract number to open the loan contract page.
Click the Contract number to access the contract information.
From the content menu, choose Billing > Funds.
On the Loan contract funds 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.
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.
BackOffice users with the 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.
Find the loan contract in question:
Loans > Search > Contracts.
Click the Contract number to open the loan contract page.
Persons > Search and locate the person-borrower who has a loan contract.
Click the person Name to access the person details page.
From the content menu, select Loans > Loan contracts.
Click the Contract number to open the loan contract page.
From the content menu, choose Documents > click the New document button.
Fill in the new contract document details > Save.
The loan contract is the final step in the loan origination process, following the loan application and/or offer stages. It is created automatically when a loan offer is accepted.
If your company manages loan applications and offers outside the Tuum system, you can skip these steps and create the loan contract manually.
This section provides information on how to manage loan contracts within the Tuum system.
You can access the loan contract page or modules. If a loan is related to a collateral asset, you can also find it via or via .
: Loan contract management options.
: Loan contract sections that you can select or deselect to customise the Loan Contract view.
Fill in the > Create.
.
