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@Sander van der Heyden, when doing % based penalties we will most likely want all the ones you have identified with the % of Remaining Principal seeming the most fair option.
So in andys scenario cause theres 20 left outstanding/late only 20 would be penalized at a given rate. For now though we are focusing on flat /fixed penalties so you can just assume andy that the penaltiy is applied in full as the installment is late (not fully paid)
It also brings in another question. If that installment continues to remain unpaid going forward are further penalties added to that installment or is there only one penalty added per late installment.
At the start of this we agreed to keep the scope within whatever your client was looking for as theres a million and one variations and we should just focus on whatever approach your client takes with respect to penalties for late payments. So it might mean going back to them with a list of questions on their penalty approach (rules around it)
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