Delinquency Grace Days

Delinquency grace days are the number of days for which the system waits before categorizing the account as a delinquent account. 

For example, the payment due date is January 4 and the delinquency grace days are marked as seven days.

If the borrower fails to make the payment within the due date, the system waits for seven days, that is, till January 11. If the system does not receive the payment by January 11, the loan account is marked as delinquent on January 12.

Suppose the delinquency grace days are 0 and there is no payment on the due date, the loan account becomes delinquent and the status of the loan changes from Active-Good Standing to Active-Bad Standing. 

Delinquent Amount

The field Delinquent Amount under Delinquent Dues section in the loan details page reflects the delinquent amount.

For information on Delinquent Dues and Payment Tolerance and Grace Periods, refer to section Field Reference in CL Contract Creation.