Contract Pricing
What is a Rate Factor?
The Rate Factor field in ASPIRE is an internally calculated field, and cannot be manually manipulated. Instead of giving sales reps or partners yield rates, many times finance companies will give their partners rate cards. These are updated on a ...
Sales Type Leases
Please refer to the document for more information regarding Sales Type Leases The document will discuss: What is a Sales Type Lease? What kind of client would use a Sales Type Lease product? What Lease Accounting Standards impact Sales Type Leases? ...
How to build Payments "In Advance" vs Payments "In Arears"
In ASPIRE, the user is able to build a payment stream with payments "in advance" of the billing period or the user can build a payment stream with the payments "in arears" of the billing period. Please see the attachment for detailed information how ...
Payments in Advance versus Payments in Arrears
When building the payment schedule in ASPIRE it is important to understand the period that the payment is to cover. This will help when wanting to display the payment period on invoices. Payments in Advance (most common) When building this payment ...
ASPIRE APR Calculation User Guide
The functionality available in ASPIRE regarding the calculation of an APR and generating disclosure notification documents is available in the attached user guide. Attachment Contents Overview Configuration Options Application of the US APR in ASPIRE ...
ASPIRE APR Functionality FAQ
ASPIRE APR Functionality FAQ What are the APR Regulations? Beginning December 9, 2022, under the California Code of Regulations Title 10, Chapter 3, commercial lenders are required to provide an APR, along with other values on a regulated disclosure ...
ASPIRE Subscription Billing Capabilities
Please see the attachment for more details. Attached is a short presentation created around ASPIRE subscription-based billing capabilities. Note that in this instance, examples of ASPIRE subscription-based billing include: - Maintenance pass-through ...
Setup a Finance Product Video
See linked video for details. The linked 3 minute video reviews the process for setting up Finance Products in ASPIRE. Click here.
Support For Transition to SOFR
The transition away from the use of LIBOR as a benchmark for variable rate transactions is well underway and LTi Technology Solutions is pleased to confirm support for the transition to SOFR with all versions of our flagship product, ASPIRE v5. By ...
Contract Items
Contract Items in ASPIRE Contract Items in ASPIRE can be either amortized or recognized upfront. Certain contract items can also be financed depending on the contract finance product type. Click here for a 13:30 video walking through the Contract ...
Variable Rate - Benchmark and Plus Factor
ASPIRE’s variable rate functionality consists of two rate components that combine at any point in time to make the customer-facing rate on a floating rate lease or loan. The two rate components are: - Benchmark Rate – The floating/variable rate ...
Soft Costs
See the attached document for details. This document is to provide a deeper understanding of Soft Costs: • What are Soft Costs • The Economic Impacts of using a Soft Cost • Display Options for Soft Costs • Benefits/Disadvantages of using Soft Costs • ...
$0 Payments in an ASPIRE Payment Stream
$0 (Zero Dollars) payments are often mishandled in ASPIRE. In the past, users have been entering $0 payments on the payment stream to fill any gaps for deferred payments on a contract. This works well until a credit memo needs to be generated on ...