Overview

This screen allows you to allocate a portion of the loan amount to be paid directly to one or more third-party beneficiaries on the client's behalf. This is useful for settling accounts, paying bills (e.g., Vodacom), or making purchases as part of the loan agreement. The system will track these payments and calculate the final payout amount remaining for the client.

Navigation

This screen is a step in the New Loan wizard, typically following the fees and interest configuration.

1. Navigate to Client Administration > Search for Existing Client.
2. Select the desired client and click New Loan.
3. Proceed through the wizard until you reach the 3rd Party Payment screen.

How to Add a 3rd Party Payment

1. To begin, click the Add a New Payment to a 3rd Party Beneficiary button or link.
2. A form will appear for you to enter the payment details. Fields highlighted in yellow are required.
   • 3rd party beneficiary: Enter the name of the person or company receiving the payment (e.g., "Edgars", "City of Tshwane").
   • Payment to Beneficiary: Choose the appropriate financial event type from the dropdown list.
   • Amount: Enter the exact amount to be paid to the third party.
   • Reference: (Optional) Enter a reference for the payment, such as an account number or invoice number.
   • Description: (Optional) Enter a short description for the payment.
3. Click the Save button.

The payment will be added to a summary list on the screen. You can repeat this process to add multiple third-party payments.

Reviewing Added Payments

Once saved, each payment will appear in a list displaying the following details:

• Beneficiary: The name of the third party.
• Amount: The amount to be paid.
• Reference: The reference you entered.
• Description: The description you entered.

The screen also displays a running total of the payouts:

• Payout to 3rd Party: The total sum of all third-party payments you have added.
• Payout to Client: The remaining loan amount that will be paid directly to the client after all third-party payments have been deducted.

Document Integration

• Note: The system supports special document tokens that allow you to automatically pull the details of up to five 3rd party beneficiaries into the final loan agreement document.

Available Actions (Buttons)

• Next: Continue to the next step in the New Loan wizard.
• Back: Return to the previous page.
• Cancel: Exit the New Loan wizard without creating a loan and return to the client search page.