Pre-paid fee for LOC contracts

Lenders can now charge pre-paid fees on LOC contracts. To enable this feature, you must modify some validations on the prepaid fee object, and also make provision to record the prepaid fee details on the LOC product and contract.

Deactivating Validation on Product Pre-Paid Fee Object

Perform the following steps to deactivate the validation:

1. Log in to your Salesforce Account.
2. Go to Setup, Build, Create, Objects.
3. Click Product Pre-Paid Fees object.
4. Click Validation Rules.
5. Click Edit next to the rule name LOC_should_not_have_prepaid_fees.
6. De-select the Active checkbox. This allows prepaid fees to be created for the LOC product and contract.
7. Click Save.

Adding Prepaid Fee related list on the Lending Product and CL Contract page

Modify the product and contract layouts as follows:

• Add the Product Pre-Paid Fees related list to the Line of Credit Product Layout of the Lending Product object.

  

  For steps to do this, refer to section Create a Section or a Related List on a Page.

• Add the Pre-Paid Fee related list to the Line of Credit layout of the CL Contract object.

  

  For steps to do this, refer to section Create a Section or a Related List on a Page.