Instalments against a customer
Each instalment is a receipt against the scheme and the customer, at the rate on the day it was paid where the scheme works that way — not recomputed later at whatever the rate became.
Feature
A scheme is a promise over eleven or twelve months. It has to survive a missed instalment, a rate change and a change of mind.
Each instalment is a receipt against the scheme and the customer, at the rate on the day it was paid where the scheme works that way — not recomputed later at whatever the rate became.
What the customer is entitled to at maturity follows from the scheme’s own terms and the instalments actually received, and redeems against a sale.
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