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Term |
  
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Navigation: Loan Screens > Account Information Screen Group > Reserves Screen Group > Account Reserve Detail Screen > Reserve Disbursements tab > Disbursement Information field group >
Term
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Term |
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Entry: User, numeric
F/M: Yes
Mnemonic: RDXTRM
Screen: Loans > Account Information > Reserves > Account Reserve Detail > Reserve Disbursements tab
Reserve analysis is done on a term basis (monthly). For example, a six-month term would have reserve analysis done on a 1/6 basis. That is, the monthly reserve requirement is calculated by dividing the disbursement amount by the term of the disbursement. The following reserve types are not included for analysis: 01, 11, 15, 19, 21, 23, 25, 26, 28, 41, 43, 60-78, 86-93, 95, 97-99.
For example, a term of “12” automatically advances the next Pay Date one year ahead, providing the Advance Pay Date (automatic advance) field displays a checkmark.