Loan Payment Schedule

Definition

Loan Payment Schedule. The schedule for payments made by the borrower.

Issues and Challenges

This is calculated to ensure that a constant amount is paid but the amount is applied differently each time to principal and interest. This is called a Credit Foncier. TERMS TO ADD Payment Identifier: A unique identifier for this individual scheduloed payment. this is used to track what payments made by the borrower, are made against this specific scheduled payment. Also known as Coupon Identifier. ACTION: Put this term in the Explicit Schedule listings.

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.