Mihaly Dallos created FINERACT-2065:
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Summary: Fix length loan
Key: FINERACT-2065
URL: https://issues.apache.org/jira/browse/FINERACT-2065
Project: Apache Fineract
Issue Type: New Feature
Reporter: Mihaly Dallos
Due to regulatory requirements in France, where loans cannot exceed 89 days,
the Fineract SOR needs to be extended to support defining that a loan has a
maximum length and the maximum length of that loan defines the length of the
last installment which will be a shorter period than the first two installments.
For example for France this would consist of two thirty-day installments and
one 29-day final installment. The initial plan/repayment schedule has to stay
within that maximum loan length period. Trailing activities post-maturity that
could post to the loan beyond the maximum loan length period are permitted.
h2. Requirements
# Need an Option to define the fixed tenure for the loan account
# All installments should honor the repayment frequency set and the fixed
length tenure days should be adjusted to the last installment only
# Max length can be defined in days or weeks or monthly, Only applicable for
loans with terms defined in days or weeks or monthly respectively
# Payment holiday, skip payment or Reschedule keeps the length (in days) of
the last installment the same as before - honors the fixed length defined
# Extend schedule changing the repayment schedule is fine
# it can be applied only with 0-interest products.
# Post maturity, N+1 is allowed is not affected by this feature
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