Hi Nesrine,
This is a very tricky issue you found! Great job identifying the issue and
explaining the problem.
A question:
We also have fees that can be charged at time of disbursal. Does the scenario
you describe below also apply then?
My recommendation would be the following:
If "interest deducted at disbursement" is ON, then the system should consider
the second payment as the "first repayment" and apply the logic for scheduling
the date of the payment accordingly. In some ways-- it really is the first
repayment-- albeit only of principal.
Does that make sense? Is that complicated to build?
I haven't thought through this very long, so perhaps others might have better
ideas.
Emily.
________________________________
From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Nesrine
Madhkour
Sent: Wednesday, February 13, 2008 2:31 AM
To: Emily Tucker; Aliya Walji
Cc: [EMAIL PROTECTED]; Mifos functional discussions
Subject: ENDA-Mifos: Loan schedule independent of meeting
schedule_Functional issue
Hi Emily/Aliya,
A new issue has risen related to the" loan schedule independent of
meeting schedule" feature.
When defining the loan account attributes, the MFI could choose to
deduct interests at disbursement. If this attribute is set to "ON" for a
product instance, the first repayment date is the same as the loan disbursement
date. However, the new feature we developed allows a disbursal date different
from a repayment day. Two issues to study:
* Consider that the first repayment date is the same as the loan
disbursement date: The problem is that min and max between the two dates
wouldn't have sense anymore, and the loan schedule start date would not be
aligned with the repayment day
* Consider the loan schedule start date as the first repayment
date from the date of disbursal: The problem is that the attribute "interest
deducted at disbursement" wouldn't have any impact whether set to "ON" or
"Off".
Would you please study this case and provide us with more
clarifications and suggestions.
Best regards.
_____________________________________________________________________
Mss Nesrine MADHKOUR
Finance Solutions Consultant
OXIA
OXIA is ISO 9001 V2000 certified company - AFAQ QUAL/2005/25140
11, Rue Claude Bernard
1002 Tunis Belvédère
Tunisia
Tel.: +216 71 28 27 00
Fax: +216 71 28 27 05
[EMAIL PROTECTED]
Skype : NesrineMadhkour
www.oxiasoft.com <http://www.oxiasoft.com/>
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