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http://mifosforge.jira.com/browse/MIFOS-4319?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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Kay Chau updated MIFOS-4319:
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Fix Version/s: Mifos Backlog
Assignee: pmqueue
> Commission fee, payable in installments
> ---------------------------------------
>
> Key: MIFOS-4319
> URL: http://mifosforge.jira.com/browse/MIFOS-4319
> Project: mifos
> Issue Type: New Feature
> Components: Loan Account
> Affects Versions: Release E
> Environment: Release Namemifos-v1.7.x-beta
> Commit Identifier874b78eb8759af0a248ae41ea3e7d5eba7f9724b
> Build DateTue Nov 02 08:55:39 PDT 2010
> Reporter: Milan Patel
> Assignee: pmqueue
> Fix For: Mifos Backlog
>
>
> We require configuration in which the client is charged a commission fee,
> which is payable in installments along with the loan repayment.
> In this example, the fee is 7.5% of the loan amount. The loan is payable on
> a weekly basis.
> I originally tried to set it up in Mifos to pay 7.5% of the loan amount on a
> weekly basis; this however charges 7.5% of the original loan amount each
> week, instead of dividing it amongst the repayment periods.
> This fee must be divided between each repayment period. It is key to note
> here that the term of the possible loan cannot be determined / preset
> beforehand--for example, if loans had to be repaid weekly over preset periods
> for 1 year (52 weeks), 1 month (4 weeks) etc., it would be possible to set a
> fee for each potential loan term and divide the percentage appropriately.
> However, my organisation does not use standard loan terms--they could have a
> repayment schedule over 7 weeks, for example. As such, the fee needs to be
> divided amongst a periodic repayment schedule, of which the number of periods
> is variable.
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