Creating Contracts

Contract records are created in FintechOS Portal, in the Contracts page. To create a new contract, click the Insert button on the top right side of the page. The Add Contract page is displayed.

Fill in the following fields:

Field Mandatory Data Type Details
Customer Type No Lookup Select a value from the list:
  • Legal person
  • Individual person
  • Self employed individual.
Customer Yes Lookup Select from the list the customer for whom you are creating a contract.
Product Type Yes Lookup Select from the list the product type.
Banking Product Yes Lookup Select from the list the desired banking product.
When creating a new contract, choose a product type to filter the list of banking products accordingly.
Be careful when choosing the values for the previously mentioned fields because they cannot be modified after saving the contract!
After saving the contract, all sections of the contract becomes visible and can be completed.

Click the Save and Reload button at the top right corner of the page. The contract is saved in Draft status, with minimum information, such as an auto-generated contract number, created by, version and version number, but the page displays now a series of tabs that assist you in configuring the contract:

  • Overview tab - The first tab requires the basic elements for the creation of a contract such as customer, banking product, account, interest rate, participants, tranches, fees, and contract covenants.

  • Collaterals tab - This tab, displayed only for contracts where the chosen banking product is secured, contains all the details about collaterals and contract guarantors.

  • Payments tab - This tab contains all the transactions, payments, penalties, bank account operations, repayment schedules, schedule versions, repayment notifications for a contract. Depending on the contract's chosen banking product, only some of these may be displayed. The tab has no information to display while the contract is in the initial Draft status. Approve the contract to perform any contract event. Meaningful payments information is displayed in this tab only after performing transactions on the contract.

  • Contacts & Documents tab - This tab holds documents related to the contract. It is meant to be the electronic folder of the contract.

  • History tab - This tab displays the versions of the contract, along with workflow status and the user who modified the record.

  • Accounting Entries tab - This tab holds all the accounting entries, accounting totals, and accruals and provisions recorded for a contract. The accounting entries are generated after contract approval and performing transactions.

Depending on the chosen banking product, the contracts have different requirements regarding the fields that must be completed. The following pages exhibit the possible major contracts configurations:

The following configuration requirements generally apply for contracts: