Loan Early Prepayment Hard Penalty Terms
From Open Risk Manual
Definition
Loan Early Prepayment Hard Penalty Terms. Early repayment penalty in the event of the loan being paid off without any refinancing with the same lender.
These terms cover prepayment penalty period, penalty amount and whether or not there is provision for waiver of the penalty, all inherited from the parent term.
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.
