When you create a financial transaction with a premium, the system proposes a one-time option premium, which you enter in the basic data screen of the transaction.

In the details screen, you can generate several premium payments by specifying a frequency.

1. Premium amount

You enter the amount and the premium currency here.

You also have to define the interest calculation method here. This is used with regular premium payments for calculating the number of days when the accrual/deferral run is performed.

2. Update rule

You can choose between regular update and single dates.

In the former case, you enter either the monthly or daily frequency for the update.

In the latter case, the premium is only paid on the specified due date and then in yearly frequency.

3. Due date

In this area, you can set the month-end indicator. If you do this, the interest period ends on the last day of the month.

You also define a shift rule and the calendar you want to use to shift the due date, if it is not a working day.

4. Calendar