| Id: | 10463 |
| Product: | finPOWER Connect |
| Type: | NEW |
| Version: | 1.06.03 |
| Opened: | 23/08/2012 |
| Closed: | 05/09/2012 |
| Released: | 17/09/2012 |
| Job: | J010236 |
 High Importance |
|
 Breaking Change |
|
Interest; added more flexibility with charging Interest post maturity
Added more flexibility with charging Interest post maturity.
The existing Account Type Interest option "Charge all Interest as Default Interest post Maturity/ Final Date?" has been updated to a dropdown list titled "Post Maturity", with the following options:
1. Charge. Interest is charged as during the term of the Loan.
2. Do not Charge. Interest is not charged from the Maturity date. Default Interest remains the same as during the term.
3. Charge as Default. Interest is not charged from the Maturity date, instead it is charged as Default Interest. This means the total Interest, ie Interest and Default Interest, charged will be the same the day before maturity as the day after.
Note, the existing "Charge all Interest as Default Interest post Maturity/ Final Date?" option will be transferred to "Charge as Default" if checked.
Updated in-built summary page "SummaryPage_Account_Financial" to version 1.09 (5/09/2012).
Updated Loan Contract document 'Loan_Contract_NZCCCFA.dot' to version 1.25 (04/09/2012).
Warning: The following changes have been made that may break script and VBA code.
AccountType.OptionInterestPostMaturityZeroRate property is now Read-Only. It returns False if Interest post maturity is charged, otherwise it returns True. You should change all code that uses this property to use OptionInterestPostMaturity instead.