Enter the date the notice was received in the Payoff Data section. The system calculates the earliest possible notice date and proposes this in the Due on field.

Enter an alternative due date for the payoff in the Due on field, if necessary. The payoff on this date affects the remaining capital and the interest calculation capital. Both these amounts are reduced by the payoff amount on the payoff due date.

If you choose the Check function for the due date, the system determines whether the payment date for the payoff is a working day for the bank. If necessary, it asks whether you want to shift the payment date for the payoff to the previous or next working day.

Enter a reason for the payoff, if necessary.

In the Payoff Overview you see the loan data relevant for the payoff, such as the gross payoff amount, the maximum net payoff amount and the new effective interest in partial payoffs.

When you enter a partial payoff, enter the net payoff amount required.

In the Model Calculation section the system displays the data concerning the installment plan for the loan.

When you enter a partial payoff, you can decide whether the loan term is to remain the same or whether it is to be shortened.

The Payment Arrangements section displays the Payer of the payoff. The system displays the main borrower as default. You can select a different business partner for the payoff that is assigned to the loan and for which a business partner FI customer role exists.

Select bank details in the Bank Details ID field that contains the predefined bank details from the master record of the business partner.

You can change the default proposal for the Payment Method .

In the CLI Recalculation section, the system recalculates the credit life insurance policy for the loan. If you set the Transfer indicator, the system generates and posts the recalculation of the credit life insurance within the business operation as a CLI extra charge or CLI reimbursement.