Insurer Premium Less Than Lessee Premium When Setting Same Percentage Rate (Doc ID 2261743.1)

Last updated on MAY 03, 2017

Applies to:

Oracle Lease and Finance Management - Version 12.2.6 and later
Information in this document applies to any platform.

Symptoms

On : 12.2.6 version, Insurance Modules

ACTUAL BEHAVIOR
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After setting insurance products having Insurer Rate the same percentage as the Lessee Rate when running the programs for billing and AP invoices, the percentages are not applied as expected:
For example :when asset cost is $1,350, with a 1% rate for both lessee and insurer :
Lessee Premium= $13.50 per month
Insurer Premium= $1.35 per month  (annual 12x1.35)

EXPECTED BEHAVIOR
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The expectation is that the percentages defined on the Insurance products are applied for Lessee and Insurer

STEPS
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The issue can be reproduced at will with the following steps:
1. Lease Super User >Setup > Define Insurance product having Insurer Premium the same percentage as the Lessee Premium
2. Create Contract with Insurance defined above
3. The Insurer Premium and Lessee Premium does not respect the percentages defined on the Insurance product


Changes

 

Cause

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