Refund for a lost loan (lost item) - configuration

Question

What happens when an item is on loan, and the loan is declared “Lost"?

Answer

An item on loan can be declared Lost. The change to loan status is done from the User's Loan list, or further to configuration of “Overdue and Lost Loan Profiles”.

Fine and Fees can be applied:

1. Lost Item Fine: The amount to pay if the item is lost.

2. Lost Item Replacement Fee: This policy defines a replacement fee to apply when an item is lost. 

3. Lost Item Replacement Fee Refund Ratio: The percentage of the above replacement fee that can be returned (waived) if the item is returned. 

More on the above is explained in the Online regarding "Adding Fulfillment Policies", link below.

4. Overdue charges are being applied either when the loan is declared "Lost" or upon return of item. See link to Online Help below regarding: "overdue_at_lost_loan".

Additional Information

Click to find out more on "Configuring Overdue and Lost Loan Profiles".

Click here for explanations for Advanced Policy Configuration: "Adding Fulfillment Policies".

Overdue fines calculation depends on: "overdue_at_lost_loan", see Online Help for "Configuring Other Settings (Fulfillment)". 

• Article last edited: 06-AUG-2018.