Synergi User Manual

Redemption Notice Maintenance Function - Fields Description

At this function, user will come across various fields or columns that needs to be maintained with relevant data.

The descriptions of the respective field or column, are as follows:-

Account Search Criteria (Panel)
Please Enter Search Value	This is the value to be used to search for the related account record. This is a search data input field. Note: If the value inputted into this field is relating to Account No., Name or ID No., click once on the relevant Account No., or Name, or ID No. button, accordingly.
Account No.	This is the search criteria button to be clicked once, to search and retrieve the relevant account records. Note: Click once on this button if the value inputted at the 'Account Information' search criteria field is related to existing account numbers.
Name	This is the search criteria button to be clicked once, to search and retrieve the relevant account records. Note: Click once on this button if the value inputted at the 'Account Information' search criteria field is related to existing customers' names.
ID No.	This is the search criteria button to be clicked once, to search and retrieve the relevant account records. Note: Click once on this button if the value inputted at the 'Account Information' search criteria field is related to existing Customer IDs.

Account Search Criteria (Panel)

Please Enter Search Value

This is the value to be used to search for the related account record. This is a search data input field.

Note: If the value inputted into this field is relating to Account No., Name or ID No., click once on the relevant Account No., or Name, or ID No. button, accordingly.

Account No.

This is the search criteria button to be clicked once, to search and retrieve the relevant account records.

Note: Click once on this button if the value inputted at the 'Account Information' search criteria field is related to existing account numbers.

Name

This is the search criteria button to be clicked once, to search and retrieve the relevant account records.

Note: Click once on this button if the value inputted at the 'Account Information' search criteria field is related to existing customers' names.

ID No.

This is the search criteria button to be clicked once, to search and retrieve the relevant account records.

Note: Click once on this button if the value inputted at the 'Account Information' search criteria field is related to existing Customer IDs.

This Accounts Criteria panel will pop upon the function screen opened.
The purpose of this panel is for user to search for the relevant credit facility account record.

Accounts Listing (Pop-Up Window)
Please Enter Search Value	This is the value to be used to search for the related account record. This is a search data input field. Note: If the value inputted into this field is relating to Account No., Name or ID No., click once on the relevant Account No., or Name, or ID No. button, accordingly.
Account No.	This is the search criteria button to be clicked once, to search and retrieve the relevant account records. Note: Click once on this button if the value inputted at the 'Account Information' search criteria field is related to existing account numbers.
Name	This is the search criteria button to be clicked once, to search and retrieve the relevant account records. Note: Click once on this button if the value inputted at the 'Account Information' search criteria field is related to existing customers' names.
ID No.	This is the search criteria button to be clicked once, to search and retrieve the relevant account records. Note: Click once on this button if the value inputted at the 'Account Information' search criteria field is related to existing Customer IDs.
Account No. & Status	This is the system generated unique reference number of the respective credit facility account.
Name	This is the customer name of the account.
ID No.	This refers to the unique identification number of an individual (as in a person) or a non individual (e.g., a private limited company, a public limited company and an association) customer.
Relationship	This is the code and description of the 'customer-account' relationship, e.g., 'M - Main Holder', or 'G - Guarantor'.
Product Description.	This refers to the code and name of the respective product.

Accounts Listing (Pop-Up Window)

Please Enter Search Value

This is the value to be used to search for the related account record. This is a search data input field.

Note: If the value inputted into this field is relating to Account No., Name or ID No., click once on the relevant Account No., or Name, or ID No. button, accordingly.

Account No.

This is the search criteria button to be clicked once, to search and retrieve the relevant account records.

Note: Click once on this button if the value inputted at the 'Account Information' search criteria field is related to existing account numbers.

Name

This is the search criteria button to be clicked once, to search and retrieve the relevant account records.

Note: Click once on this button if the value inputted at the 'Account Information' search criteria field is related to existing customers' names.

ID No.

This is the search criteria button to be clicked once, to search and retrieve the relevant account records.

Note: Click once on this button if the value inputted at the 'Account Information' search criteria field is related to existing Customer IDs.

Account No. & Status

This is the system generated unique reference number of the respective credit facility account.

Name

This is the customer name of the account.

ID No.

This refers to the unique identification number of an individual (as in a person) or a non individual (e.g., a private limited company, a public limited company and an association) customer.

Relationship

This is the code and description of the 'customer-account' relationship, e.g., 'M - Main Holder', or 'G - Guarantor'.

Product Description.

This refers to the code and name of the respective product.

This Accounts Listing panel will pop up once user has clicked once, on either one of the available search criterion buttons located at the 'Account Search Criteria' panel, when there are record(s) found or no record can be found.
The purpose of this Accounts Listing panel is for user to select a relevant account record found.

Account Information (Panel)
Customer Name/ Customer ID.	This is the main holder’s customer name, and the related Customer ID number.
Account No.	This is a system generated credit facility account number.
Product	This is the currency code and product code with the related brief product description of the credit facility account.
Account Info	This is the brief details of the account, of which presently it is the status of the credit facility account, e.g., A - Active.
First Release On	This is the date that first disbursement of the credit facility has been performed on the account.
Tenor	This is the credit financing term of the credit facility, e.g., 108 By Month.
Expiry Date	This is the last date of the facility, and rightfully the last date that full repayment of the facility is to be made.
Redemption Notice (Panel)
Intend Date Option	This is the intended period to make settlement of the credit facility. The available options, are as follows:- Today Next Due Date By Notice Date
Intended Date	This is the date of which the redemption transaction is targeted to take place by the borrower, or the solicitors' firm representing the borrower.
Notice Date	This is the issuance date of the redemption notice. Note: The value of this field is dependent on the value of the 'Intended Date Option' field. If the 'Intended Date Option' is Next Due Date, then the next repayment due date of the credit facility will be displayed in this field. Otherwise, if the 'Intended Date Option' is set to either 'Today' or 'By Notice Date', then the field’s value will be set to the current system date. However, user can still overwrite the date to a date later than the current system date.
Redemption Date	This is the date that the redemption transaction has been scheduled to be performed based on the required notice period in the redemption notice that is to be issued. Formula: Redemption Date = Notice Date + Notice Period Required (which is based on the defaulted unit of time period at the 'Notice Period Type' field and defaulted Notice Period Required)
First Release On	This is the date of the first disbursement made to the account.
Tenor	This refers to the term of the credit facility, e.g., 108 By Month.
Expiry Date	This is the last date of the facility, and the last date that repayment of the facility is required to be made.

Account Information (Panel)

Customer Name/ Customer ID.

This is the main holder’s customer name, and the related Customer ID number.

Account No.

This is a system generated credit facility account number.

Product

This is the currency code and product code with the related brief product description of the credit facility account.

Account Info

This is the brief details of the account, of which presently it is the status of the credit facility account, e.g., A - Active.

First Release On

This is the date that first disbursement of the credit facility has been performed on the account.

Tenor

This is the credit financing term of the credit facility, e.g., 108 By Month.

Expiry Date

This is the last date of the facility, and rightfully the last date that full repayment of the facility is to be made.

Redemption Notice (Panel)

Intend Date Option

This is the intended period to make settlement of the credit facility.

The available options, are as follows:-

Today
Next Due Date
By Notice Date

Intended Date

This is the date of which the redemption transaction is targeted to take place by the borrower, or the solicitors' firm representing the borrower.

Notice Date

This is the issuance date of the redemption notice.

Note:

The value of this field is dependent on the value of the 'Intended Date Option' field.
If the 'Intended Date Option' is Next Due Date, then the next repayment due date of the credit facility will be displayed in this field. Otherwise, if the 'Intended Date Option' is set to either 'Today' or 'By Notice Date', then the field’s value will be set to the current system date. However, user can still overwrite the date to a date later than the current system date.

Redemption Date

This is the date that the redemption transaction has been scheduled to be performed based on the required notice period in the redemption notice that is to be issued.

Formula: Redemption Date = Notice Date + Notice Period Required (which is based on the defaulted unit of time period at the 'Notice Period Type' field and defaulted Notice Period Required)

First Release On

This is the date of the first disbursement made to the account.

Tenor

This refers to the term of the credit facility, e.g., 108 By Month.

Expiry Date

This is the last date of the facility, and the last date that repayment of the facility is required to be made.

This Account Information panel will pop up once user has clicked twice on an account record at the Accounts Search pop-up window.
The purpose of this Account Information panel is for user to view the details of the selected Account record.

<Redemption Notice> (Panel)
Notice Period Type	This is the unit of time period to be applied in a redemption notice, e.g., D - Day, or M - Month. Note: The value of this field is dependent on the prepayment penalty scheme code tagged to the product of the selected credit facility account.
Notice Period Required	This is the number of days, or months in advance of which borrower has to notify a bank or financial institution of the intention to settle a credit facility’s principal outstanding in the redemption notice that is to be issued, e.g., 30 days. Note: The value of this field is dependent on the prepayment penalty scheme code tagged to the product of the selected credit facility account.
Rebate %	This is the percentage of rebate allowed on the interest that can be refunded arising from the early settlement of a credit facility, and it is determined by the policy of the respective financial institution or bank. Note: The value of this field is dependent on the prepayment penalty scheme code tagged to the product of the selected credit facility account. However, user can overwrite the value of this field in this function.
Total Payable	This is the total amount (in the account currency) to be paid for the full redemption of the credit facility account. Note: The field value will be computed and displayed, after the 'Compute' button has been clicked once.
Rebate Amount	This is the amount of rebate (in the account currency) allowed on the unearned interest that can be refunded arising from the early settlement of a credit facility, which is determined by the policy of the respective bank or financial institution. Note: The field value will be computed and displayed, after the 'Compute' button has been clicked once.
Rebate Months	This is the number of months of unearned interest that can be refunded arising from early settlement, which is determined by the policy of the respective bank or financial institution. Note: The field value will be computed and displayed, after the 'Compute' button has been clicked once.
Previous History Record	This is the button to be clicked once, to view the previously issued redemption notice.
Generate Notice	This is the button to be clicked once, to print out the new redemption notice.

<Redemption Notice> (Panel)

Notice Period Type

This is the unit of time period to be applied in a redemption notice, e.g., D - Day, or M - Month.

Note: The value of this field is dependent on the prepayment penalty scheme code tagged to the product of the selected credit facility account.

Notice Period Required

This is the number of days, or months in advance of which borrower has to notify a bank or financial institution of the intention to settle a credit facility’s principal outstanding in the redemption notice that is to be issued, e.g., 30 days.

Note: The value of this field is dependent on the prepayment penalty scheme code tagged to the product of the selected credit facility account.

Rebate %

This is the percentage of rebate allowed on the interest that can be refunded arising from the early settlement of a credit facility, and it is determined by the policy of the respective financial institution or bank.

Note: The value of this field is dependent on the prepayment penalty scheme code tagged to the product of the selected credit facility account. However, user can overwrite the value of this field in this function.

Total Payable

This is the total amount (in the account currency) to be paid for the full redemption of the credit facility account.

Note: The field value will be computed and displayed, after the 'Compute' button has been clicked once.

Rebate Amount

This is the amount of rebate (in the account currency) allowed on the unearned interest that can be refunded arising from the early settlement of a credit facility, which is determined by the policy of the respective bank or financial institution.

Note: The field value will be computed and displayed, after the 'Compute' button has been clicked once.

Rebate Months

This is the number of months of unearned interest that can be refunded arising from early settlement, which is determined by the policy of the respective bank or financial institution.

Note: The field value will be computed and displayed, after the 'Compute' button has been clicked once.

Previous History Record

This is the button to be clicked once, to view the previously issued redemption notice.

Generate Notice

This is the button to be clicked once, to print out the new redemption notice.

Full Redemption Details (Pop-Up Window)
Section	This is the respective category of credit repayment items and related sub-total amount that is required to be settled in the credit facility. Some examples, are as follows: Main Items Other Debit Items Additional Items Rebate Items Note: The categories of credit repayment items that can be displayed may diffs by credit facility accounts, dependent on the related product parameter settings, transaction charges settings, the pre-maintained prepayment scheme, and the repayments made.
Field	This is the respective credit repayment item and related amount that is required to be settled in the credit facility. Some examples, are as follows:- Main Items Gross Balance - This is the credit facility account’s existing gross outstanding balance (in account currency); principal and interest outstanding including all other charges and penalty interest on late payment (must be accounted as the credit facility’s debtor general ledger account). Other Debit Items Late Fees Outstanding - This is the outstanding penalty amount (in the account currency) on overdue repayment to be paid during settlement in the credit facility account. Interest In Lieu of Notice - This is the profit or interest charged (in the account currency) in the event that customer settles the credit facility’s outstanding amount stated in the redemption notice before the specified redemption date (also known as the redemption notice due date). Some banks or financial institutions will typically impose three months of profit or interest in lieu of notice in each of the redemption notice been requested. Additional Items Add Late Fees To Be Charged - This is the additional penalty amount (in the account currency) that will be imposed, in the event if settlement is to be performed within the credit facility bonding period. Rebate Items Rebate Amount - This is the total unearned interest amount (in the account currency) that can be refunded during settlement into the credit facility account.
Formulae: Formula for the calculation of the Interest In Lieu of Notice: (For the 'F - Fixed' charge method)_ Profit In Lieu Of Notice = (Redemption Amount x Profit In Lieu Of Notice Interest Rate) / 100 (For the 'P - Prevailing Rate' charge method)_ Profit or Interest In Lieu Of Notice = (Redemption Amount x Present Interest Rate Of The Credit Facility x No. Of Days Short Notice ) / (Day Base x 100) Formula for the calculation of the Late Fees To Be Charged: (For the 'A - Per Annum' charge method) Additional Penalty = (Amount x Penalty Interest x Remaining Months Between Credit Facility Expiry Date, And The Redemption Date) / (Day Base x 100) (For the 'M - Per Month' charge method) Additional Penalty = (Amount x Penalty Interest x 12 x Remaining Months Between Credit Facility Expiry Date, And The Redemption Date) / (Day Base x 100) (For the 'F - Flat' charge method) Additional Penalty = (Amount x Penalty Interest) / 100 (For the 'T - Fixed Amount' charge method) Additional Penalty = A certain fixed amount The bonding period of the 'Late Fees To Be Charged' can be calculated as follows:- If the starting point is from the 'D - Disbursement Date', to take the difference between the Redemption Date, and the Release Date. If the starting point is from the 'P - Interest Commencement Date, to take the difference between the Redemption Date, and the credit facility’s installment commencement date. The Amount type that can be used to calculate the additional penalty to be charged for the settlement, are as follows:- 1 - Original Approved Amount 2 - Principal Outstanding Day base of the respective credit facility account is pre-maintained in system.
Value	This is the respective sub-total of the category of credit repayment items (in the account currency) or the respective credit repayment item amount (in the account currency).
<Summary of Settlement Amount>(Sub-Panel)
Actual Rebate	This is the 'actual' amount (in the account currency) of unearned interest to be refunded during the early settlement of a credit facility.
Rebate Months	This is the number of months of unearned interest to be refunded (computed based on the 'Actual Rebate' field value) during the early settlement of a credit facility.
Redemption Amount	This is the total amount (in the account currency) to be repaid for the intended settlement of the credit facility.
Additional Charges	This is the further ad hoc fees or charges amount (in the account currency) to be imposed during the early settlement of the credit facility.

Full Redemption Details (Pop-Up Window)

Section

This is the respective category of credit repayment items and related sub-total amount that is required to be settled in the credit facility.

Some examples, are as follows:

Main Items
Other Debit Items
Additional Items
Rebate Items

Note: The categories of credit repayment items that can be displayed may diffs by credit facility accounts, dependent on the related product parameter settings, transaction charges settings, the pre-maintained prepayment scheme, and the repayments made.

Field

This is the respective credit repayment item and related amount that is required to be settled in the credit facility.

Some examples, are as follows:-

Main Items
- Gross Balance - This is the credit facility account’s existing gross outstanding balance (in account currency); principal and interest outstanding including all other charges and penalty interest on late payment (must be accounted as the credit facility’s debtor general ledger account).
Other Debit Items
- Late Fees Outstanding - This is the outstanding penalty amount (in the account currency) on overdue repayment to be paid during settlement in the credit facility account.
- Interest In Lieu of Notice - This is the profit or interest charged (in the account currency) in the event that customer settles the credit facility’s outstanding amount stated in the redemption notice before the specified redemption date (also known as the redemption notice due date). Some banks or financial institutions will typically impose three months of profit or interest in lieu of notice in each of the redemption notice been requested.
Additional Items
- Add Late Fees To Be Charged - This is the additional penalty amount (in the account currency) that will be imposed, in the event if settlement is to be performed within the credit facility bonding period.
Rebate Items
- Rebate Amount - This is the total unearned interest amount (in the account currency) that can be refunded during settlement into the credit facility account.

Formulae:

Formula for the calculation of the Interest In Lieu of Notice:
- (For the 'F - Fixed' charge method)_
  - Profit In Lieu Of Notice = (Redemption Amount x Profit In Lieu Of Notice Interest Rate) / 100
- (For the 'P - Prevailing Rate' charge method)_
  - Profit or Interest In Lieu Of Notice = (Redemption Amount x Present Interest Rate Of The Credit Facility x No. Of Days Short Notice ) / (Day Base x 100)
Formula for the calculation of the Late Fees To Be Charged:
- (For the 'A - Per Annum' charge method)
  - Additional Penalty = (Amount x Penalty Interest x Remaining Months Between Credit Facility Expiry Date, And The Redemption Date) / (Day Base x 100)
- (For the 'M - Per Month' charge method)
  - Additional Penalty = (Amount x Penalty Interest x 12 x Remaining Months Between Credit Facility Expiry Date, And The Redemption Date) / (Day Base x 100)
- (For the 'F - Flat' charge method)
  - Additional Penalty = (Amount x Penalty Interest) / 100
- (For the 'T - Fixed Amount' charge method)
  - Additional Penalty = A certain fixed amount
The bonding period of the 'Late Fees To Be Charged' can be calculated as follows:-
- If the starting point is from the 'D - Disbursement Date', to take the difference between the Redemption Date, and the Release Date.
- If the starting point is from the 'P - Interest Commencement Date, to take the difference between the Redemption Date, and the credit facility’s installment commencement date.
The Amount type that can be used to calculate the additional penalty to be charged for the settlement, are as follows:-
- 1 - Original Approved Amount
- 2 - Principal Outstanding
Day base of the respective credit facility account is pre-maintained in system.

Value

This is the respective sub-total of the category of credit repayment items (in the account currency) or the respective credit repayment item amount (in the account currency).

<Summary of Settlement Amount>(Sub-Panel)

Actual Rebate

This is the 'actual' amount (in the account currency) of unearned interest to be refunded during the early settlement of a credit facility.

Rebate Months

This is the number of months of unearned interest to be refunded (computed based on the 'Actual Rebate' field value) during the early settlement of a credit facility.

Redemption Amount

This is the total amount (in the account currency) to be repaid for the intended settlement of the credit facility.

Additional Charges

This is the further ad hoc fees or charges amount (in the account currency) to be imposed during the early settlement of the credit facility.

This Full Redemption Details Screen will pop up once user has clicked once on 'Compute' button.
The purpose of this panel is for user to update the relevant credit repayment including actual interest rebate and additional items to derive the redemption amount.

Previous History Record (Pop-Up Window)
Notice Sequence	This is the system generated unique reference number of the respective redemption notice or settlement statement created.
Notice Date	This is the issuance date of the redemption notice or settlement statement.
Redemption Date	This is the date that the redemption transaction is scheduled to be performed based on the required notice period in the redemption notice or settlement statement that is to be issued.
Created By	This is the User ID of the user who has created the redemption notice or settlement statement.

Previous History Record (Pop-Up Window)

Notice Sequence

This is the system generated unique reference number of the respective redemption notice or settlement statement created.

Notice Date

This is the issuance date of the redemption notice or settlement statement.

Redemption Date

This is the date that the redemption transaction is scheduled to be performed based on the required notice period in the redemption notice or settlement statement that is to be issued.

Created By

This is the User ID of the user who has created the redemption notice or settlement statement.

This Full Redemption Details Screen will pop up once user has clicked once on 'Previous History Record' button.
The purpose of this window is for user to view the previously generated redemption notices on the credit facility.