Configure Forfeiture Parameters

This page allows you to configure the forfeiture parameters which can be set for the entire scheme and modified at property (other than type parking) level. The parameters specified based on which the forfeiture amount is computed at the time of cancellation of property. Basis (for components/charges & brokerage) can be % (of due amount, balance amount or paid amount) or a flat amount.

Select the “Configure Forfeiture Parameters” link at the bottom of the “Scheme Details - Sales” activity.

The “Configure Forfeiture Parameters” page appears.

The system displays the following in the “Scheme Details” group box:

Scheme Code	The code identifying the scheme.
Scheme Name	The name of the scheme.
Scheme Type	The type of the scheme for which the login user/company is mapped.
Company Code	The code identifying the company to which the login user is mapped.
Company Name	The name of the company.
Finance Book	The finance book of the company.

Enter the following details in the “Scheme Details” group box:

Pay Plan type	Use the drop-down list box to select the type of pay plan to which the scheme is mapped. The combo is loaded with the options “CLP” and “Down Payment”.
Property No	Use the drop-down list box to select the property number of the scheme.
Forfeiture A/c Code	The code identifying the forfeiture account. Mandatory

The system displays the following in the “Component Details” multiline:

Code	The code identifying the component to which the scheme is mapped.
Component Description	The detailed description of the component.

Modify the following details in the “Component details” multiline:

Basis	Use the drop-down list box to select the basis for components and brokerage. The combo is loaded with the options “%”, “% of due amount”, “% of paid amount” and “Amount”.
Value	The value of the component.

Note: At lease one row should be selected in the multiline.

Click the “Save Details” button to save (create/modify) the forfeiture parameter details.