General Terms and Condition

The General Terms and Conditions code list is used to set some of the terms and conditions of the contract related to e.g. payment terms or early termination conditions.

The general terms and conditions code is set on the financing product. When creating a calculation/contract, this code is then transferred to the financing contract.

The code list is available via full-text search: General. terms of trade

A new record can be entered via the New, or by entering a new line directly.

Field:

• Code

  • To be entered manually by the user

• Description

  • To be entered manually by the user

• Fin.Charge Terms Code

  • Specifies how the contract is penalized

• Payment Terms Code

  • Specifies how the due date of regular payments in the contract payment calendar is calculated

• Sales Price Payment Terms Code

  • Specifies how the due date of the last sales line in the contract payment calendar is calculated (used in financial leasing)

• Reminder Terms Code

  • Specifies how the contract is reminded

• Early Termination Fee

  • Empty by default

  • Does the user manually enter the amount of the fee for early termination due to the purchase of the object by the customer in the currency of the contract and in the value excluding VAT

  •  Usage in Financial Settlement Calculation for Financial Leasing

• Penalty for Buying by Customer (%)

  • Empty by default

  • The user manually enters the % amount of the penalty for early termination due to the purchase of the object by the customer (it is included in the calculation of the Compensation of Financial Revenue)

  •  Usage in Financial Settlement Calculation for Financial Leasing

• Active

  • System filter, only those records that have Active = Yes are visible in the code list. To display all of them, it is possible to cancel the filter by the user.