The Recurring Escalations feature enables you to create Rate Increase Schedules that may be linked to a recurring line, which works in conjunction with the Company Rate Change program.
Recurring Escalation Rate Schedules are first created in the RMR Escalations setup table. For each RMR Escalation Code created, you setup a default Rate Increase Schedule. Each default schedule contains one or more lines that indicate the renewal number, the percentage to be used for the rate increase, and a description. You may create as many RMR Escalation codes as needed.
The RMR Escalation feature is basically used to set up a schedule that includes future rate increase dates and increase percentages on an individual recurring line that will be used by the Company Rate Change program to determine when and what rate to increase a recurring line.
When using the Company Rate Change program with the Recurring Renewal Dates method (only), if a recurring line is setup with an Escalation Schedule, the program will determine which rate to use based upon the escalation schedule of the recurring line.
