How to handle the maturity date of loan in FCR

Question

In Jilin, we have a contract maturity date and FCR maturity date, the contract maturity date can be less than or equal to the FCR maturity date. If the contract maturity date is less than the FCR maturity date, EFS will be done for the loan account in EOD automatically.
Here is the question from Tongfang, is above functionality added into FCR 4.5 version? If yes, how can we get the contract maturity date and where is the date stored in ?

Answer 1

Adding further clarification and details
Definition of Term :
FCR Maturity Date: It is the maturity date derived by FCR as part of Host Disbursement (Schedule generation). As per FCR the maturity date will always fall on the "Repayment Day" of the loan account. Say for example the Loan term is 12 months and the repayment date is 21st of each month. And, if the schedule is generated on 2013-01-15 then the FCR Maturity date will be 2014-01-21.
Contracted Maturity Date : Is the Maturity date which is in the Loan agreement. This may be different from the FCR Maturity date which is derived based on the schedule frequency and Loan term. Say for example, the Contracted Maturity Date of above account is 2013-12-31. It is commonly termed as CMD.
Restriction : Contracted Maturity Date should be less than FCR Maturity date.
Workflow in Jilin:
1. Loan Account opening : Contracted Maturity Date is passed in Loan account opening Interface. The same is maintained as Loan Attributes (ln_acct_attributes) using the Loans Attributes maintenance API.
2. Later on the CMD can be Inquired or Modified using the "Loan Account Attributes Inquiry" & "Loan Account Attributes Modification" API respectively.
3. On the date of CMD (2013-12-31 in the example above), when EOD Category 13 is executed it will do the Auto EFS of above accounts. As part of Auto EFS it will charge (Raise Arrears) all the oustanding Principal and Unbilled Interest.
4. Also, during the life-cycle of the loan the CMD can be extended. It can be done using FCR screen LN-055 or "Loans Roll Over Instruction Maintenance" API. On the date on which this instruction is maintained, the Loan account will be re-scheduled in "Auto EFS Category". The FCR Maturity Date and Contrancted maturity dates will be updated as per the instruction.
Edited by: PankajKumar on May 8, 2013 2:19 AM