Overview

This section lets you configure the overarching parameters for loans within your system.

Path: Setup > Loan Related > General

To access these settings, your user role needs the Setup: General Loan security access under Setups > Security > Roles.

Fields

• Warn if Work Contract Expire in Number of Days: Specify how many days before a borrower's work contract expires you want a warning to appear when creating a new loan application.
• Block loan application on Expired Work Contract: Select this checkbox if you want to prevent new loan applications from being created for contract workers whose employment contracts have expired.
• Block loan application on Unapproved Employer: Select this checkbox to block new loan applications if the employer's status isn't "Approved."
• Force Settlement Receipt:
  • Reference Number: Select this checkbox if you want a reference number to be mandatory when a forced settlement receipt is created.
• Ignore Settlement on Receipt: Select this checkbox if you want the "Ignore Settlement" option to be automatically chosen on a receipt. Note: This option should generally not be used in South Africa due to NCA (National Credit Act) regulations.
• Automatic Force Settlement for Difference: Select this checkbox if you want settlements to be automatically forced. Important: The "Ignore Settlement" checkbox cannot be selected if you use this option.
• Minimum Difference for Automatic Force Settlement: Define the minimum amount difference that will trigger an automatic forced settlement.
• Print Receipt: Select this checkbox if you want a receipt to be generated automatically when a transaction is recorded.
• Loan Agreement Printing Option: Choose how many loan agreement documents should be printed when creating a new loan:
  • Single Agreement: Only one agreement document will be generated.
  • Two Agreements: Two agreement documents will be generated.
  • Single Agreement (Client's Language): One agreement document will be generated in the client's preferred language.
• Loan Agreement Printing Language: Select the standard language for printing loan agreement documents. The available languages depend on the country where your entity operates.
• Print Quotation on Application: Select this checkbox if you want a pre-agreement and/or quotation to be generated when a loan is in the application phase. Remember to set up the corresponding document beforehand.
• Check Cashbox Pay-out Balance: If selected, the system will verify if sufficient funds are available in the cashbox before creating a cash pay-out contract.
• Print mandate and standard terms on application: If this checkbox is selected, the system will generate the standard mandate and standard terms and conditions for a new loan application. Ensure these documents are set up in advance under Setup > Documents.
• Default Loan Status: From the dropdown, select the default loan status (either "Application" or "Active") that will be used for every new loan creation.
• Default Loan Purpose: From the dropdown, select the default loan purpose that will be used for every new loan creation.

Buttons

• Save-button: Click to save the information.
• Cancel-button: Click if you don't want to save any information or changes.