Product Attributes
The attributes and characteristics of the each product (including fleet) will be discussed with the intent of identifying the properties to be defaulted in the product configuration setup in AF.
TLT to share Hire Purchase/Fleet/Contract purchase/FL/OL product characteristics including:
- business model or relationships between parties and contracts.
- calculation default and instalment timing/frequency
- rate defaults
- termination methods allowed
- maturity processing
- fees applicable (frequency of assessment/collection, waiver, 3rd party remittance)
- documentation
Also, TLT to ensure (if possible and in advance), examples of each variation of a product including amortisation schedule, interest calculations, instalment calculation and type (P or P&I, etc). This will ensure that all properties of the product can be explained and detailed in the ISD
Pricing
TLT to illustrate the different payment structures offered. Include any future repayment method and structures that you intend to offer. Consultants will try to simulate these into AF to determine which can be supported. Identify the process on how a quote price is derived - determine all the variables and ratios needed to determine rates. If rate tables are used, determine how the rates in the table are populated.