Waive fees operation
The Waive operation allows a credit officer to forgive part of the accrued debt — overdue penalties or default interest — without requiring a payment from the borrower. The platform has separate sub-processes for fixed-term loans and credit lines, but the user experience is similar.
Who can do it
Credit Officer.
Steps
Step 1. Open the Waiver form
From the loan detail page, the user clicks “Waive accrued debt.” The system opens the form titled “Waive accrued debt fixed-term loan” or “Waive accrued debt credit line.”
Step 2. Fill the form
| Field | Type | Required | Notes |
|---|---|---|---|
| Waiver type | Dropdown | Yes | What category of debt is being waived (see below) |
| Amount | Number | Yes | In the loan’s currency. Pre-filled with the current balance of the chosen category, but the user can lower it. Must be greater than 0 and no greater than the current balance |
| Supporting documents | File upload | No | Multiple files allowed, each up to 20 MB |
Waiver type values:
| Value | Display | What it forgives |
|---|---|---|
| Waive overdue penalty | Overdue penalty | The accrued overdue penalty fees on the loan |
| Waive default interest | Default interest | The accrued default (penalty) interest |
The form pre-populates the Amount field based on the chosen type — selecting “Waive overdue penalty” sets it to the current overdue penalty balance from the snapshot; selecting “Waive default interest” sets it to the current default interest balance. The user can reduce this amount to a partial waiver.
If the corresponding balance is zero, the form rejects submission with the message “no fee to waive.”
Step 3. Confirm
The user clicks “Confirm”.
Step 4. The system processes the waiver
- A Waive Accrued Debt loan event is recorded with the waiver type, amount, attachments, and the user who performed it.
- The loan snapshot is updated: the corresponding balance is reduced by the waived amount.
- The borrower is notified.
Step 5. Result
The waiver appears in the loan operations history. Future payment allocations no longer include the waived portion. If the waiver eliminates the last overdue obligations, the loan transitions out of Overdue.
Note
