What is the FLAT AMOUNT PYRAMID LAW in Daybreak LS and how is it calculated?
(Doc ID 1605211.1)
Last updated on DECEMBER 03, 2019
Applies to:Oracle Daybreak - Version 9.5 to 11.5 [Release 9 to 11]
Oracle Financial Services Lending and Leasing - Version 11.5.1 to 14.0 [Release 11 to 14]
Information in this document applies to any platform.
If an account becomes overdue, Daybreak assesses a flat (fixed amount). However, if the standard payment is made the following month, a new late charge will not be assessed, even if the payment made is does not fulfill the current amount due.
Explanation on what is the FLAT AMOUNT PYRAMID LAW in Daybreak LS and how is it calculated.
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