Hi Emily/Aliya,
Joined bellow my last comments related to the loan schedule independent of
meeting schedule feature. We need a reply as soon as possible so that Nazir
start fixing this issue.
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/>
________________________________
De : [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] De la part de Nesrine Madhkour
Envoyé : vendredi 15 février 2008 14:47
À : [EMAIL PROTECTED]; Aliya Walji
Cc : Mifos functional discussions
Objet : Re: [Mifos-functional] ENDA-Mifos: Loan schedule independent ofmeeting
schedule_Functional issue
Hi Emily,
To analyse this issue, I have created 4 loan products to simulate different
scenarios related to the loan schedule start date calculation (On a previous
version of Mifos before implementing the loan schedule independent of meeting
schedule feature):
1/ A loan which interests are not deducted at disbursement: the first repayment
date is different from the loan disbursement date.
2/ A loan which interests are not deducted at disbursement but on which fees
deducted at disbursement are applied: the first repayment date is also
different from the loan disbursement date.
3/ A loan which interests are deducted at disbursement: the first repayment
date is the same as the loan disbursement date.
4/ A loan which interests are deducted at disbursement and on which fees
deducted at disbursement are applied: the first repayment date is the same as
the loan disbursement date.
>A question:
>We also have fees that can be charged at time of disbursal. Does the scenario
>you describe below also apply then?
Based on the above cases, it is obvious that fees applicable to loans and
deducted at disbursement don't follow the same logic of interests when
calculating the loan schedule start date.
>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
As a reminder: when implementing "loan schedule independent of meeting
schedule", we allow disbursal to happen on a non meeting day. However, if
interests deducted at disbursement attribute is turned on, and if we keep the
same logic which is having the first repayment date the same as the disbursal
date, we will have a loan schedule start date different from the loan repayment
days. That is why I think that we should keep the same loan schedule start date
whether interest deducted at disbursement are applicable or not. I.e the loan
schedule start date is the first meeting from the disbursal date (which defined
on the feature specifications).
The only difference between having interest deducted at disbursement or not
will be obvious actually only at disbursement (The amount of payment details on
the disbursal page).
Moreover, I think that if we consider the second payment as "the first
repayment" as recommended, min and max (especially max) window wouldn't have
any sense. The calculation of the loan schedule start date would be the same as
if we have a grace period of one instalment.
Please let me know your comments to take this particular case into account
before finalising this feature.
I will be happy if anyone of the folks has any additional comments related to
this point.
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/>
________________________________
De : [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] De la part de Emily Tucker
Envoyé : jeudi 14 février 2008 05:02
À : [EMAIL PROTECTED]; Aliya Walji
Cc : Mifos functional discussions
Objet : RE: ENDA-Mifos: Loan schedule independent of meeting
schedule_Functional issue
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/>
<BR
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