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Discounted Instruments
The subsystem handles discounted bills for a discounter. Each bill has its own interest rates. The bills can be prematurely settled . The system automatically settles the bill against the settlement account, if funds are available. The Risk Management Module automatically provides the control over the discounted bills activity.
The bank has the option to stop an outstanding bill from going into arrears. It has the choice for arrears recovery to give preference to the interest or the principal.
In additional to normal discounting the system provides function to deal with hire purchase lending.
System provide many reports, inquiries, settlement and reminder advices. |
