Treatment of Non Working Days for Schedule

Loan Management takes into consideration the defined non-working days when creating the repayment schedules. The calendar is the default holiday treatment for the loan contracts. In order to have flexibility on how to treat non-working days or public holidays, Loan Management uses a series of attributes and underlying logic. Thus, if the regular due date for loan repayment is defined as the 15th of every month and it falls on a non-working day according to the country calendar followed for that product, Loan Management can shift the due date backward or forward to the first working day, and then continue with the regular 15th of every month.

Manage the holiday settings during banking product definition, in the product's Details tab -> Holiday Settings and Country Calendars sections, as described in the Banking Product Factory user guide:

Furthermore, you also have a defer option that allows you to shift the due date without changing the amounts being collected.