Through the Fees page, you can define the Fees Types that will be used throughout the system;

 

 

To define a fee type, you need to perform the following steps:

 

§  The ID will be automatically generated by the system once the fee type entry has been saved;

§  Select the Fee Type. These fee types are predefined in the system;

§  Enter the Limit Amount in USD in the Limit Amount (USD) field (a specific limit of the fee amount: the auto-calculated fee amount of the inserted type shouldn’t exceed this limit which is applied only on USD currency);

§  Enter the Name of the fee type. In the Name 2 field, you can enter in the name of the fee type in the alternate language of the system, if so desired;

§  Select the Fee Category; (Company Fee, Government Fee);
Note: this selection will affect the calculation of the Production/ Claim;

§  Select the method in which the fee will be paid in the Apply On field. You can select either ‘Periodically’ or ‘On the first instalment’;

§  Select the Endorsement Type that this Fee will be applied to;

§  Select how this fee should be calculated by selecting the Calculate On from the predefined list;

§  Select the Claim Transaction from the predefined list;

§  Check-in one or more of the checkboxes that you want the fees to be applied on (Policy, Endorsement, Claim, Coinsurance, Reinsurance, Proportional Reinsurance, or Non-Proportional Reinsurance);

§  Once you have finished entering the necessary data, click.

 

In the Fee Tiers page, you will be able to link these fee types with the business types and define the tiers of the fees.