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Payment Schedule
The payment schedule defines the dates at which payments are made by one party to another on for example an invoice. It can be either customised or parameterised. Parameterised Schedule The schedule is generated based on a set of rules and market conventions to define the frequencies of the payments. These parameters include: *Payment Frequency (Annually, Semi Annually, Quarterly, Monthly, Weekly, Daily, Continuous) *Payment Day - Day of the month the payment is made * Date rolling - Rule used to adjust the payment date if the schedule date is not a Business Day * Start Date - Date of the first Payment * End Date - Also known as the Maturity date. The date of the last payment Customised Schedule The schedule consists of a series of dates that define exactly when payments will be made. The payment schedule can also be linked to achievement or fulfillment of certain predefined tasks or events or even stages against which payments are required to be made by one party to another R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Date Rolling
In finance, date rolling occurs when a payment day or date used to calculate accrued interest falls on a holiday, according to a given business calendar. In this case, the date is moved forward or backward in time such that it falls in a business day, according to the same business calendar A calendar is a system of organizing days. This is done by giving names to periods of time, typically days, weeks, months and years. A calendar date, date is the designation of a single and specific day within such a system. A calendar is .... The choice of the date rolling rule is conventional. Conventional rules used in finance are: *Following business day: the payment date is rolled to the next business day. *Modified following business day: the payment date is rolled to the next business day unless doing so would cause the payment to be in the next calendar month, in which case the payment date is rolled to the previous business day. Many institutions have month-end accounting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Day
A business day normally means any day except a legal holiday. It may also mean a business day of operation, any of the days an organization operates. It depends on the local workweek which is dictated by local customs, religions, and business operations. It is related to '' working time'', the period of time that an individual spends at paid occupational labor. Alternatively, a business day may also be defined as any day which the New York Stock Exchange is open for trading or any day except those on which banking institutions are authorized or required by law or other governmental action to close. Working time The working time in a business day varies by region. For example, in the United States and much of the Western world, a typical workday is from 9am to 5pm. In contrast, for many eastern countries such as Japan, the normal business day is from 8:30am to 7pm. The length of a business day varies by era, by region, by industry, and by company. Prevalent norms have incl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |