> For the complete documentation index, see [llms.txt](https://docs.xyb.co/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.xyb.co/credit/use-case-tutorials/nordic-revolving-credit-line-overview/how-to-create-the-nordic-revolving-credit-product.md). # How to Create the Nordic Revolving Credit Product Learn how to configure the **Nordic Revolving Credit Line** product in the XYB platform. This credit line product combines flexible drawdowns with structured repayment, ideal for regulated markets such as **Denmark** and other Nordic countries. Once configured, this product becomes usable by operations teams to launch customer-specific credit contracts, automate invoicing, and manage repayments. *** **1: Navigate to Product Configuration** From the Console UI: * Go to **Product configuration > Products** * Click **+ New Product** * Click **+ New Draft** * Add the **Credit Contract Service** *** **2: Configure General Specifications** Set the foundational rules for the product. These settings apply across all contracts using this product template. | **Field** | **Description** | | ----------------------------------- | ---------------------------------------------------------------- | | **Currency** | Select the operating currency (e.g., `DKK`) | | **Country** | Legal jurisdiction (e.g., `Estonia`) | | **Group** | Set as `CREDIT_LINE` | | **Type** | Choose `NORDIC_REVOLVING_CREDIT` | | **Subcontract amortisation period** | Duration (in months) for repayment of each drawdown (e.g., `60`) | | **Minimum monthly payment amount** | Minimum required payment (e.g., `250`) | | **Minimum withdrawal amount** | Minimum allowed drawdown (e.g., `1,500`) | | **Max effective interest rate** | Regulatory cap for APR (e.g., `25`) | | **Payment term days** | Days before invoice due (e.g., `7`) | | **Invoice payment term date** | Payment deadline from invoice issuance (e.g., `7`) | | **Interest invoice amount min/max** | Thresholds for invoicing interest (e.g., `0` to `0`) | **3: Configure Credit Line Fees** You can configure payout fees using **tiered fee pricing** based on the disbursed amount. Each **tier** defines: * **Balance From / To**: Amount range * **Fee Amount**: Fixed amount charged * **Fee Type**: Choose `ON_CONTRACT_PAYOUT` * **Calculation Method**: Choose `FIXED_AMOUNT` * **Fee List Type**: `TIERED` **Example Tiers:** | **Tier** | **Balance From** | **Balance To** | **Fee Amount (DKK)** | | -------- | ---------------- | -------------- | -------------------- | | 1 | 1,500 | 3,000 | 49 | | 2 | 3,000.01 | 5,000 | 49 | You can add as many tiers as needed and optionally configure: * **Fee default/min/max value** * **“Add to Principal”** toggle – whether to capitalize the fee into the contract **4: Define Interest Terms** The product can support multiple interest types such as: | **Interest Type** | **Value** | **Min/Max** | **Variable Rate** | **Day Count** | **Booking Period** | | ----------------- | --------- | ----------- | ----------------- | ------------- | ------------------ | | **Standard** | 15.6 | 10 / 20.9 | DKK\_FIXED | ACT\_360 | DAILY | | **Penalty** | 25 | 25 / 25 | DKK\_FIXED | ACT\_360 | DAILY | | **Commitment** | 0 | 0 / 0 | DKK\_FIXED | ACT\_360 | DAILY | **Other options:** * **Penalty affected balances**: e.g., `FEE_DEBT`, `PRINCIPAL_DEBT` * **Interest payment frequency**: `DAILY`, `MONTHLY`, etc. > You must configure the related **interest rate types** globally before they can be used here. *** **5: Set Product Attributes** Attributes define flexible parameters passed into the credit contract. You can define ranges and defaults for: * **APR Max Percentage**: e.g., `30%` * **Agreement Length (months)**: Default: `60`, Min: `12`, Max: `600` * **Amount**: * Default: `25,000` * Min: `5,000` * Max: `30,000` * Step: `1` These settings help constrain what can be entered when issuing customer contracts. *** **6: Link Contract Templates** From the **Templates** section: * Select contract lifecycle templates that will govern **contract creation**, **repayment logic**, and **closure.** This enables product-level automation through predefined contract event flows. *** **7: Review and Save** Once your configuration is complete: * Review all sections for completeness and accuracy * Click **Save** * The Nordic Revolving Credit product is now ready to be used in contract issuance *** #### Example Use Case A customer in Denmark draws down 3,500 DKK. Based on tiered fees, they are charged 49 DKK, interest is calculated daily, and their sub-contract is automatically amortized over 60 months with a minimum monthly payment of 250 DKK. *** --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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