Entering penalty charges information for a rental order

This page enables you to enter penalty charges applicable for a rental order. Tell me more

Select the “Edit Penalty Charges” link at the bottom of the “Create Rental Order” or “Edit Rental Order” page.

The “Edit Penalty Charges” page appears.

Note: Ensure that the “Penalty Applicable” field is set to “Yes” in the “Create/Edit/Amend Rental Order” page.

The system displays the following field:

Date Format

The format in which the date field is displayed. This format is displayed from the "User Preferences" business component based on the login user ID. In case the format is not defined, the system displays the date format from the "Enterprise Modeling" business component by default.

The system displays the following field in the “Rental Order Details” group box:

Rental Order #	The number identifying the rental order for which the penalty charges must be defined.
Amendment #	The amendment number of the rental order, if any.
Rental Order Date	The date on which the rental order was raised.
Status	The status of the rental order.
Part #	The part against which the rental order was created.
Part Description	The textual description of the part.
Customer #	The code of the customer for whom the rental order was created.
Customer Name	The name of the customer to whom the part is rented.
Total Rental Value	The total rental value of the rental order.
Order Currency	The currency in which the rental order transactions take place.

The system displays the following fields in the “Lease Information” group box:

Lease Charges On	Indicates the method by which the lease charges are calculated. Parameter – indicates that lease charges are calculated based on the parameter values. Calendar Period – indicates that lease charges are calculated based on the calendar period. Both – indicates that lease charges are calculated based on both parameter and calendar period. None – indicates that lease charges are not applicable
From Date	The date from which the lease becomes effective.
Calendar Lease Period	The lease period in terms of days, weeks, months or years.
Lead Parameter	The lead parameter of the component.
Parameter Lease Period	The lease period in terms of lead parameters such as FC, FH etc.

The system displays the following fields in the “Penalty Information” group box:

Penalty Charges On

Indicates the method by which the penalty charges are calculated.

Parameter – indicates that penalty charges are calculated based on the parameter values
Calendar Period – indicates that penalty charges are calculated based on the calendar period
Both – indicates that penalty charges are calculated based on both parameter and calendar period
None – indicates that penalty charges are not applicable for rental order

The value set for “Lease Charges On” will be displayed for the control “Penalty Charges On”

Enter penalty information

Enter the following:

Calendar Penalty Period

The penalty period in terms of days, weeks, months or years (Integer).

Select the unit of measurement for the calendar lease period, which could be “Days”, “Weeks”, “Months” or “Years”, from the drop-down list box provided alongside.

Parameter Penalty Period

The lease period in terms of penalty parameters such as FC, FH etc (Integer).

Comments

Any comment pertaining to the penalty period (Alphanumeric, 255).

Enter the following fields in the “Penalty Charges Policy Details” group box:

Calendar Based Penalty Charges Policy

Use the drop-down list box to select the policy by which the calendar based penalty charges are calculated for the rental order. The system lists the options “Flat” and “Percent”.

Data selection is mandatory when “Penalty Charges On” is “Calendar Period” or “Both”.

Calendar Based Penalty Charge Basis

Use the drop-down list box to select the basis by which the calendar based penalty charges are calculated for the rental order. The system lists the options “Cumulative” and “Period”.

Data selection is mandatory when “Penalty Charges On” is “Calendar Period” or “Both”.

To enter penalty charges policy and basis for a ‘Component’

Parameter Based Penalty Charges Policy

Use the drop-down list box to select the policy by which the parameter based penalty charges are calculated for the rental order. The system lists the options “Flat” and “Percent”.

Data selection is mandatory when “Penalty Charges On” is “Parameter” or “Both”.

Parameter Based Penalty Charges Basis

Use the drop-down list box to select the basis by which the parameter based penalty charges are calculated for the rental order. The system lists the options “Cumulative” and “Period”.

Data selection is mandatory when “Penalty Charges On” is set to “Parameter” or “Both”.

Specify calendar based penalty charges

Enter the following fields in the “Calendar Based Penalty Charges” multiline:

From Period

The starting period (day / week / month / year) from which the penalty charges are effective (Integer).

You must enter “1” in the first line of the multiline.

To Period

The ending period (day / week / month / year) till which the penalty charges are effective (Integer)

You must specify the value entered in “Calendar Penalty period” field in the last line of the multiline.

The value entered here must be greater than or equal to the value entered in “From Period”. The value entered here in all rows except the last row must be lesser than the “Calendar Penalty Period”.

For instance, if you have specified the calendar penalty period as ‘20’ days, you can divide the period such as ‘1’ to ‘5’, ‘6 to 10’ etc and define penalty charges.

The system displays the following field:

UOM

The unit of measurement of the calendar period.

Enter the following fields:

Flat Rate / UOM	The flat rate applicable for a day/week/month/year (Decimal). This number must be positive. You must enter this field if the calendar based penalty charges policy is ‘Flat’.
Percent of Rental Price / UOM	The percent of rental price applicable for a day/week/month/year (Decimal). This value should be positive and less than 100. You must enter this field if the calendar based penalty charges policy is ‘Percent’.

The system displays the following field:

Penalty Charges

The penalty charges applicable for the period.

Enter the following field in the multiline:

Remarks

Any remark pertaining to the penalty charges defined for the period (Alphanumeric, 255).

Specify parameter based penalty charges

Enter the following fields in the “Parameter Based Penalty Charges” multiline:

From Value

The starting value in the range of parameter values from which the penalty charges are effective (Date Format).

You must enter “1” in the first line of the multiline.

To Value

The ending value in the range of parameter values from which the penalty charges are effective (Date Format).

You must specify the value entered in “Parameter Penalty period” field in the last line of the multiline.

The value entered here must be greater than or equal to the value entered in “From Value”. The value entered here in all rows except the last row must be lesser than the “Parameter Penalty Period”.

The system displays the following field:

UOM

The unit of measurement of the lead parameter.

Enter the following fields:

Flat Rate / UOM	The flat rate applicable per UOM (Decimal). This number must be positive. You must enter this field if the parameter based penalty charges policy is ‘Flat’.
Percent of Rental Price / UOM	The percent of rental price applicable per UOM (Decimal). This value should be positive and less than 100. You must enter this field if the parameter based penalty charges policy is ‘Percent’.

The system displays the following field:

Penalty Charges

The penalty charges applicable for the parameter value range.

Click the “Edit Penalty Charges” pushbutton to store penalty charges information.

The system performs the following on updation:

Calendar based penalty charges calculation: The calendar based penalty charges are calculated by taking either flat rate or percentage of rental price for each line item in the multiline. If the calendar based penalty charges basis is “Period”, for each line item, the difference between the (‘To Period’ and ‘From Period’ +1) is multiplied with the flat rate or percentage of the rental price to arrive at the penalty charges. If the calendar based penalty charges is “Cumulative”, the ‘To Period’ of each line item is multiplied with the flat rate or the percentage of rental price to arrive at the penalty charges.
Parameter based penalty charges calculation: The parameter based penalty charges are calculated by taking either flat rate or a percentage of the rental price for each line item in the multiline. If the parameter based penalty charges basis is “Period”, for each line item, the difference between the (‘To Period’ and ‘From Period’ + 1) is multiplied with the flat rate or percentage of rental price to arrive at the penalty charges. If the calendar based penalty charges is “Cumulative”, the ‘To Value’ of each line item is multiplied with the flat rate or the percentage of rental price to arrive at the penalty charges.

Status Updation:

Changes status from “Draft” to “Fresh” when the mandatory informtion that are applicable for rental order is entered in respective pages.
If the rental order is in “Released” status, the system changes the status to “Amended” and increments the amendment number by ‘1’. The status of the rental order with previous amendment number is set as “Revised”. The same process is applicable for a rental order in “Under Amendment” status, for which the mandatory information is entered.
If the rental order is in “Under Amendment” status, the system changes to “Amended” status if all the mandatory information is entered. If all the mandatory details is not entered, the status will remain as it is.
If the rental order is in “Amended” status, the system retains the status.
If the rental order is in “Returned” status, and amendment number is “0”, the system sets the status to “Fresh”.
If the rental order is in “Returned” status, and amendment number is greater than “0”, the system sets the status to “Amended”.

To proceed, carry out the following

Select the “Edit Terms and Conditions” link at the bottom of the page, to specify the terms and conditions for the rental order.
Select the “Edit TCD Details” link at the bottom of the page, to enter the taxes, charges and discount details for the rental order.
Select the “Authorize Rental Order” link at the bottom of the page, to authorize the rental order details.
Select the “Upload Documents” link at the bottom of the page, to facilitate the upload of documents against the rental order.
Select the “View Associated Doc. Attachments” link at the bottom of the page, to view the uploaded documents against the rental order.

What you can do in this page

Enter penalty information

Enter penalty charges policy and basis

Specify calendar based penalty charges

Specify parameter based penalty charges

Entering penalty charges information for a rental order – An overview

This page enables you to enter penalty charges applicable for a rental order. Penalty charges are levied on the part if the part is used beyond the agreed lease period.

Penalty Information

You can know whether the penalty charges will be based on usage of the component (by tracking the parameter values) or based on the calendar period of the penalty or both and enter penalty information correspondingly.

Calendar based penalty charges information

You can specify the period (days/weeks/months/years) for which the penalty is effective. You can specify the policy by which the penalty charges will be calculated: Flat rate or Percentage of Rental Price. In addition to this, you can divide the penalty period into small units so as to calculate penalty charges on period or cumulative basis.

You can specify the period range and the corresponding flat rate or percentage of rental price per day/week/month/year. The penalty charges will be calculated for every period defined.

Parameter based penalty charges information

You can identify the policy by which the penalty charges will be calculated: Flat rate or Percentage of Rental Price. You can define different ranges of parameter values to calculate penalty charges on period or cumulative basis. The penalty charges will be calculated for every parameter range defined.

Refer to “Lease Charges and Rental Charges Calculation” section for an illustration.