When the contract is in status Active, it's possible to change Financing Rates, Financing Period and Principal Amount.

All the changes you make are reflected in 3 places - Calculation Lines, Payment Calendar, Financing Contract Changes. For more information about general contract changes see attached video:

In this case, we are choosing the process of changing Financing Rate, which is described below:

Step n. 1

At the beginning, you must find the Contract, on which you want to change Financing rate. On dashboard click on Active and choose the concretely Contract.

Open

Step n. 2

Then you will see Financing Card. Click on button Process and Change Financing Rate Wizard.

Open

Original Financing Rate is 6 %, but we want to change it to 8 %. Click on Next and Finish.

Step n. 3

After previous change is necessary to click on Calculation because of updating data in Payment Calendar.

Note:

It's important to know, that if Daily interest is turn on, the change is calculated from concretely day. If it's turn off, the change is calculated from the last unposted instalment.

In this case, it's turn off, so the change is calculated from the last unposted instalment.

Now, click on Calculator Lines and you can see the change of Financing rate from the last unposted installment, in this case, from second instalment.

Changes you made are also shown in section Process, concretely in Payments Calendar and Financing Contract Changes.

How to work with contract changes

How to change financing period

How to change principal amount

How to work with early termination

How to work with bulk changes