Revolving Loan: The Total Amount Of This Request Exceeds The Value Of The Contract' Funding Error
(Doc ID 2228915.1)
Last updated on JULY 14, 2020
Applies to:Oracle Lease and Finance Management - Version 12.2.5 and later
Information in this document applies to any platform.
On : 12.2.5 version,
When trying to create a second funding request for a Revolving loan contract, we are getting an error as 'The total amount of this request exceeds the value of the Contract'. But the amount that we are trying to fund + the amount already funded - are well within the balance left on the Credit line associated to the revolving loan contract
The issue can be reproduced at will with the following steps:
1. Create a Revolving Credit Line for $ 1,000,000. Effective from: 17-Jul-2016 . Effective to: 16-Jul-2017
2. Create a Revolving loan for the same period as above (Effective from: 17-Jul-2016 . Effective to: 16-Jul-2017) - and associate the above Credit line
3. Book the Contract
4. Create a Funding request on 20-Jul-16 for the above contract for an amount of $ 750,000
5. Transfer above funding request to AP, validate and pay the invoice
6. Process 'Loan balances update' for the contract
7. Create a Principal Paydown 1 for $50,000 on 25-Jul-16
8. Create a Principal Paydown 2 for $75,000 on 18-Aug-16
9. Create a Principal Paydown 1 for $25,000 on 17-Oct-16
10. Create a Principal Paydown 1 for $30,000 on 18-Oct-16
11. Create a Receipt Dated 18-Oct-16 in AR for $ 180,000 - and apply all the above Principal Paydown Invoices
12. So - the balance due from the Customer on Principal Paydown invoices as on 18-Oct-16 will be $ 0
13. Query the Credit line associated to the Contract. It shows a remaining amount of $ 430,000 (Original limit $1,000,000 less funded 750,000 add PPD invoices $180,000)
14. Now, go to the funding tab - and create another funding request against the above contract for an amount of $ 200,000 dated 25-Oct-16
15. Submit the above funding request - and we get an error as 'Your request cannot be submitted. The total amount of this request exceeds the value of the contract'
The issue has the following business impact:
Due to this issue, users cannot create the required Funding Request.
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