Field

Description

Type

These radio buttons indicate whether the individual being set up on the contract collection record is a Recipient or a Seller. These fields are file maintainable on the Seller/Recipient tab.

Method

Use this field to indicate the method to use when assessing a service fee to the individual being set up on the contract collection record. Service fees are only assessed on regular payments and not on any other transactions (such as late charges, payoffs, or curtailments). Possible selections in this field are:

1        Flat fee - if frequency is met

2        Percentage of total payment - if frequency is met

3        No fee

4        Flat fee

5        Percentage of total payment

For codes 1 and 2, the system compares the Last Charge Date with the Frequency. If the Frequency is greater than the time between the Last Charge Date and today's date, a service fee is not charged.

Frequency

Use this field to indicate how often as service fee is assessed for the individual being set up on the contract collection record. Possible selections in this field are Monthly, Quarterly, Semi-annually, and Annually.

Fee Amount

Use this field to indicate the amount of the flat fee, if Method 1 or 4 is selected.

Fee Rate

Use this field to indicate the percentage of the payment amount to use as the fee, if Method 2 or 5 is selected.

Last Charge Date

This field displays the most recent date a service fee was assessed for the individual being set up on the contract collection record.

Year-to-Date Fees Paid

This field displays the total amount in service fees paid by the individual being set up on the contract collection record for the current calendar year.