Client Information and Project Information - Repayments
In this section, you will find information on repayments. If you click on the 'Repayments' item on the left menu bar or on a numbered link for all or a specific project, you get the following information pertaining to the repayments of your project(s). Repayments include the following types of installments:
Principal - This amount could be a contribution, overpayment of a claim or an advance.
Other Charge - This amount could be an NSF charge or other administration fees.
Interest - The interest amount is charged on all amounts in arrears (principal, other charges and interest).
Repayment Summary at the Client Level
If you click on the 'Repayments' item on the left menu bar or on a numbered link, you get the following details:
Project Number – This is the number assigned by ACOA to a submitted application and used as reference in any correspondence with ACOA.
Project Description – This represents a brief description of the project.
Due Next Month – Amount owing to ACOA the 1st of the following month.
Overdue – All instalments billed that are currently overdue.
Paid to Date – Amount paid to-date to ACOA.
Schedule – All repayments scheduled for this project (principal, charges and interest).
Repayment Summary at the Project Level
If you click on the 'Repayments' item on the left menu bar or on a numbered link, you get the following details:
Due Date - The date that the instalment is due. The schedule of instalments can be found in the Letter of Offer and any subsequent contract amendments where the schedule has been amended.
Paid Date - The date that the instalment is paid. All instalments should be billed the first of each month.
Principal - If the instalment type is principal, it will be displayed in this column. If there was an overpayment (claim or advance), the total principal for a given project will be higher than the authorized assistance.
Interest/Charges - Interest is the interest charged on all amounts (principal, other charges and interest) in arrears. Other charges could be an NSF charge or other administration fees. If the instalment was not received on the due date or it was a partial payment, interest is accrued and billed on the amount outstanding. If there were insufficient funds in the bank account, the Agency will charge an NSF fee.
Repaid - The part of the instalment amount repaid.
Outstanding - The instalment amount expected at ACOA.
Status - Represents the current status of the repayment instalment for a project. The statuses are as follows:
- Not Yet Due – Future repayment instalment to be billed
- Pending Amendment – Repayment instalment is not billed and is on hold pending an in-progress amendment to an agreement
- Overdue 1-30 – Billed instalment is between 1 and 30 days overdue
- Overdue 31-60 – Billed instalment is between 31 and 60 days overdue
- Overdue 61-90 – Billed instalment is between 61 and 90 days overdue
- Overdue 91-120 – Billed instalment is between 91 and 120 days overdue
- Overdue 120+ - Billed instalment is overdue 120 days and beyond
- Paid - Billed installment has been paid by you, the client.
The system displays the total amounts at the bottom
of the schedule.