Mechanics
Financing Amount
Maximum amount Customer utilizes to decrease Down Payment.
Understanding Financing Amount and Limits
Financing Amount allows Customers to make purchases without paying the full amount upfront, reducing their Down Payment obligation. It determines how much of the transaction value can be deferred through Payment Terms. Limit Amount is shared across all Customers in the same Group - when Customers are grouped under a shared exposure, for example, subsidiaries of the same business entity.Formula
Financing Amount = Limit Amount – Outstanding Amount
Understanding Outstanding Amount
Outstanding Amount is the aggregate total of all Repayment Amounts that remain unpaid by a Customer or any Group to which the Customer belongs, including overdue amounts, amounts currently due, and any accrued but unpaid fees or charges. It is used by Score to monitor exposure limits and risk.Understanding Repayment Amount
Repayment Amount is the portion of the Billing Amount that was financed by Score through the Financing Amount and is repayable by the Customer to Score after the point of purchase.Formula
Repayment Amount = Financing Amount + Service Fees + Late Fees
Repayment Status
| Repayment Status | Due Status | Payment Status |
|---|---|---|
| Current | Not Due | Not Paid |
| Completed | Due | Paid |
| Overdue | Due | Not Paid |
Key Notes
In the case of a refund, Repayment is either voided or refunded proportionally.
We do not support split in multiple installments as of now, but we are working on it.