Installment Issue For Components In Islamic Contracts
(Doc ID 2569074.1)
Last updated on FEBRUARY 28, 2020
Applies to:Oracle FLEXCUBE Universal Banking - Version 184.108.40.206.0 and later
Information in this document applies to any platform.
On : 220.127.116.11.0 version, Implementation Support
When booking contracts and when we provide the number of installments certain problems arise, Bank has broken them down into different scenarios:
1. If the installments is below 36 then the component schedules that are defaulted are correct, for instance, if I provide 20 installements on the main contract booking screen the components that have schedules will make 20 scehdules.
2. If installments is greater than 36, lets say 40 then the component schedules are 36, which means our number of installments that were provided were not taken into account.
3. If number of installments is greater than the maximum limit allowed for the product at its maintenance level (240 in our case) then it should throw the error that our installments cannot exceed the maximum limit, however again the component schedules are defaulted to 36.
At the product level bank had provided the tenor details, like min=1, default=36, max=240 etc and we had also in the schedules grid we had provided static schedules for certain components as 36. Then when booking a contract when bank provided the number of installments the schedules for the components would be generated according to the number of installments provided on the main contract booking screen (CIDACCNT)
The issue can be reproduced at will with the following steps:
1. Go to product maintenance screen and maintain min,default and max values.
2. Book a contract and provide number of installments greater that the default number of installments maintained at product level.
The issue has the following business impact:
When user was trying to book a contract for a tenure greater than default number of installments maintained, number of installments were set to default value.
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