[FINERACT-1773] Allow "specific due date charges" to be applied after the maturity date

• Type: Improvement
• Status: Resolved
• Priority: Major
• Resolution: Fixed
• Affects Version/s: 1.8.0
• Fix Version/s: 1.9.0
• Component/s: Loan
• Labels: PepperSoup
• Assignee: Adam Saghy
• Reporter: Adam Saghy
• Created: 12/Oct/22 18:35
• Updated: 07/Jan/24 10:51
• Resolved: 27/Oct/22 15:58

Description

Use case

As a user
I want to add a specific due date after the maturity instalment date
in order to add and collect the fee charges from the customer

__

Background and details:

When the customer payment bounces due to non-sufficient funds, an NSF fee is added to the account and collected on the next repayment.

However if the last instalment amount bounces, currently the system doesn’t allow to add of the fees after the instalment date

example:

1. last instalment date: 05-07-2022

1. repayment made:05-07-2022

1. repayment bounced due to NSF:10-05-2022

1. NSF due date to be added: 10-05-2022

The system doesn’t allow the 4th step due to validation of not allowing to add a “specified due date charge” after the maturity date

 

Acceptance criteria

1. As a user I should be able to add a “specified due date charge for a date after the maturity date as well

1. The charge amount added should create a new N+1 Instalment on the repayment schedule for that charge amount

1. If the loan already has a N+1 Instalment (by chargeback scenario) System should override the N+1 date and add the charge amount to that instalment

1. The added charge amount can be collected during the next repayment

1. Should be able to waive or refund the added charge amount

1. When the loan is closed, and transaction comes after maturity, the loan must be reopened.

1. Only non-interest-bearing loan could have post-maturity transactions.

1. Delinquency class gets updated.

 

 
Validations

1. Should be allowed only for zero interest bearing loan accounts and

1. No Changes on Penalty calculations for post-maturity instalments
    

Issue Links

• is a child of: FINERACT-1874 Release Apache Fineract 1.9.0
• links to: GitHub Pull Request #2672