Charge Override
Charge Override Property Class allows the user to amend any arrangement charges (Activity or Periodic) while processing a user Activity. Charges triggered through transactions by FUNDS.TRANSFER and TELLER modules like Arrangement disbursement, prepayment and so on cannot be waived.
Product Lines
The following Product Lines use the Charge Override Property Class:
- Accounts
- Agent
- Bundle
- Deposits
- Lending
- Rewards
- Safe Deposit Box
Property Class Type
The Charge Override Property Class (optional) uses the following Property Class types:
- Arrangement
- Dated
- Non Tracking
- Trigger
Balance Prefix and Suffix
The Charge Override Property Class does not hold any balances, as it is not financial in nature. This implies that there is no associated Balance Prefix.
Attributes
The Charge Override Property Class is used to waive or negotiate any ad hoc charges triggered for an activity, that is, when an activity collects activity or periodic charges, this Property Class is automatically added to the Properties tab so that the user can negotiate the charge amount collected by the system. The negotiated amount should not be greater than the defaulted charge amount.
When the user inputs an Activity it could trigger an activity charge or a periodic charge. The system defaults the charge amount in the Default Amount field. This charge can be modified and the applicable charge amount will be displayed in the Actual Amount field. To waive the default charges, the Actual Amount field should have the ‘0’ value and to continue with the default charges, this field has to be left blank. If any other amount is keyed in this field, then the system applies the respective charge on the customer.
Default Charge: 100
CHG.ACT.AMT 0 > Charged to Customer 0
CHG.ACT.AMT NULL > Charged to Customer 100
CHG.ACT.AMT 50 > Charged to Customer 50
The Charge Override Property does not initially appear if the charges are not specified. It appears only after a validation and if charges are applicable for the transaction.
Enquiries at Arrangement Level
Two enquiries are provided with the option to view ‘By Date’ and ‘By Type’. These provide the details of the calculated amount and any waived or adjusted amount. These enquiries are available in the Charges sub menu under the Additional Details section of the Arrangement Overview composite screens.
AA.CHARGE.DETAILS
This is a central file used to maintain activity or rule based charge details for an arrangement. This file has two purposes.
- Maintains history of charges applied for an arrangement
- Gives information needed for the system to raise charge bills
This file also serves the purpose of noting down the reason for waiving default charges. This can be achieved by making use of the available fields listed below to note down the required comments.
- WAIVE.REASON - reason for waiving the charges
- ADJ.AMT.TOTAL – total of the adjustment amount done through ADJUST.BILL
- ADJ.AMT.TOTAL.CCY - local currency equivalent of the total adjustment amount done through ADJUST.BILL
Add Charge Override Property to Existing Arrangements
The financial institutions can add the Charge Override property to the existing arrangements of the Accounts, Deposits, and Lending product lines using the Add New Property, New Prop Avl, and New Prop Avl Date fields in AA.PRODUCT.MANAGER.
Read Add New Property for more information on the configuration.
Periodic Attribute Classes
There are no periodic Attribute Classes associated with Charge Override Property Class.
Actions
Charge Override Property Class supports the following action:
| Action Name | Description |
|---|---|
| UPDATE | The UPDATE action is initiated manually and allows the user to change any attributes of the Charge Override Property Class. This action can be initiated as part of the NEW-ARRANGEMENT and UPDATE-CHARGE.OVERRIDE Activities. |
Accounting Events
Charge Override does not generate Accounting events. If the Default Charges are amended to be charges lesser than or more than the default value, then correspondingly the values are changed in the Accounting entry. Similarly, if the charges are waived during the override, then no accounting entry is passed for charges portion alone.
Limits Interaction
Actions associated with the Charge Override Property Class do not have an impact on the Limits.
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