Lease pricing setup

Pricing is the process to determine what amount a bank receives by onboarding customers into its lease application for the selected lease products or services. This section describes how to configure the pricing for different lease products and services. Different lease products and services have different fees, such as equipment rental fees, one-time or periodic implementation fees, and training and support fees.

A bank official can define a standard amount for different fees associated with the lease products and services. If the standard amount is not defined, the default amount is set to zero. An officer can override the standard amount, waive it, or give a discount on it. 

In Q2 Origination, lease pricing can be determined using the following two methods: 

• Manual
• Rate Cards

Configure Lease Pricing

Perform the following steps to configure lease pricing for different lease products and services:

• Create a rate card.

  Note:

  If you are opting to generate lease pricing using rate cards, then see Lease rate cards

• Create a fee definition.

  Note:

  You need to create a fee definition if you are opting for either of the lease pricing methods. To know about how to create a new fee, see Create a fee definition

• Create a fee set.

  Note:

  You need to create a fee set if you are opting for either of the lease pricing methods. To know how to create a new fee set, see Create a fee set

• Assign the fee definition to the fee set.

  Note:

  You need to assign a fee definition to a fee set if you are opting for either of the lease pricing methods. To know how to assign a fee to a fee set, see Fee set assignment

• Assign the fee set to a product

  Note:

  You need to assign a fee set to a product if you are opting for either of the lease pricing methods. To know how to associate a fee set with a lease product, see Assign fee set to a lease product