Regulation selection criteria is a way to become more aggressive with your lending practices. Create a temporary promotion based on customer or items. Guide employees to select the proper regulation for the loan. Limit what regulations can be selected when creating a loan. Multiple criteria can be used in combination to further narrow down what regulation can be used.
Where to find it:
The Regulation Selection Criteria can be found in the Regulatory tab of System Configuration. For each regulatory set, there is a new tab to the right of Fees called Criteria.
Criteria Defined:
Amount greater than or equal to:
Loan principal setting will allow setting the lowest loan principal allowed for the regulation. Can be used with the less than or equal to option to additionally set the highest loan principal allowed for the regulation.
Amount less than or equal to:
Loan principal setting will allow setting the highest loan principal allowed for the regulation. Can be used with the greater than or equal to option to additionally set the lowest loan principal allowed for the regulation.
MLA Restriction:
Set a regulation to only allow MLA qualified or only NON-MLA qualified.
Category Include:
Set what category is permitted to use this regulation. Multiple categories can be selected therefore you do not have to just pick one broad category such as jewelry.
Category Exclude:
Set what category is not permitted to use this regulation. Multiple categories can be selected therefore you do not have to just pick one broad category such as jewelry.
Limit Quantity:
Limit the number of loans per customer can use the regulation. Limit does not apply to buys, trade-in, or consignment. (Need to test if this is just active loans.)
Renewal Quantity:
Limit the number of times a loan under this regulation can be renewed before another regulation must be selected.
New Customer Only:
Regulation can only be used the day the customer is added. Limit does not apply to buys, trade-in, or consignment.
Expiration Date:
Set when the regulation can no longer be used.
FAQ:
How will I know if a regulation is not available?
The regulation that is not available will be grayed out. The text of the regulation will still be readable. In the below example the "Default Regulation" is not available for Jewelry.
Does the quantity limit only active loans?
The quantity limit is for total loans per customer for the regulation. If you set the limit to one and the customer has one, and then that one is now redeemed. The one quantity has been used and does not refill.
What happens if the criteria I write accidentally exclude a customer or item and therefore no regulations are available?
You will receive the below message and will need to follow the instructions and edit the criteria to allow the loan to be written.
