Schedule Stub

From Open Risk Manual

Definition

Schedule Stub. A date period before the start of the recurring part of a Payment Schedule or after the end of the recurring part, which may be associated with a specific occurrence kind.

Example

A 30 year mortgage calls for monthly payments on the first day of each month, according to a RegularSchedule. If the mortgage does not start on the first day of a calendar month, then an initial ScheduleStub specifies the payment due for the DatePeriod up to the first day of the next calendar month. Similarly, a final ScheduleStub specifies the last payment due for the DatePeriod after the end of the last full calendar month.