Generate Financial Components

The eligibility and entitlement engine generates financial components from case decision objectives. To generate these financial components, the eligibility and entitlement engine uses the case decision period and the nominee delivery pattern. If the case decision period includes a portion of the delivery frequency at the beginning of the decision period, a once-off, ramp-up financial component is created for the decision. If the case decision period encompasses one or more deliveries based on the delivery frequency, the eligibility and entitlement engine will create a recurring financial component. The frequency of the recurring financial component is the delivery frequency. If the case decision period includes a portion of the delivery frequency at the end of the decision period, a once-off, ramp-down financial component is created for the decision. Note that the financial component amount is calculated using the appropriate case decision objective tags. For information on financial component creation with multiple objective tags, see Financial Component Creation for Multiple Objective Tags. The eligibility and entitlement engine generates the following financial components from the two case decisions created from the sample data:

Once-off Financial Component with Cover Period: April 1st - April 1st
Amount: $10 (1 * daily rate)

Due Date: March 26th
Once-off Financial Component with Cover Period: April 2nd - April 4th
Amount: $30 (3 * daily rate)

Due Date: April 2nd
Once-off Financial Component with Cover Period: April 5th - April 8th
Amount: $44 (4 * daily rate)

Due Date: April 2nd
Recurring Financial Component with Cover Period: April 9th - 29th
Amount: $77 (weekly rate)

Frequency: Weekly in advance on a Friday

Due Dates: April 9th, April 16th, April 23rd
Once-off Financial Component with Cover Period: April 30th - April 30th
Amount: $11 (1 * daily rate)

Due Date: April 30th

Financial Component Due Date Set in Advance: The financial component due date is determined by both the delivery frequency and cover pattern of the nominee delivery pattern. The nominee delivery pattern frequency for the sample data is weekly on a Friday; the cover pattern is "in advance". Thus, the financial component due date must fall on a Friday and if there is no Friday in the cover period, the due date must fall on the closest Friday in advance of the financial component period. It is worth noting that the due dates for two of the financial components are not within the cover period for these financial components. This is because there is no Friday in the cover periods, thus the financial component due dates are set to the Fridays in advance. It is also worth noting the due date for the recurring financial component is rolled forward to the next due date as the financial component is processed.