If operators pay their obligation after the Nov. 30 deadline, the outstanding amount on Nov. 30 is calculated a penalty at 0.38% compounded daily until the obligation is paid. The total amount of the penalty cannot be calculated until the obligation is paid, until then it's accruing.
Acceptance Criteria:
As an operator, given that I have paid my obligation after the Nov. 30 due date, when I log on to the [year] compliance summary page, then I can see I have an automatic overdue penalty that was calculated at 0.38% compounded interest daily.
Penalty calculation rules:
[ ] The obligation must be paid before the total amount of the penalty is known
[ ] The penalty is calculated at 0.38% daily compounded interest
[ ] It must be paid within 30 days or FAA interest begins to accrue
Description:
If operators pay their obligation after the Nov. 30 deadline, the outstanding amount on Nov. 30 is calculated a penalty at 0.38% compounded daily until the obligation is paid. The total amount of the penalty cannot be calculated until the obligation is paid, until then it's accruing.
Acceptance Criteria:
As an operator, given that I have paid my obligation after the Nov. 30 due date, when I log on to the [year] compliance summary page, then I can see I have an automatic overdue penalty that was calculated at 0.38% compounded interest daily.
Penalty calculation rules:
Penalty display:
Development Checklist:
Definition of Ready (Note: If any of these points are not applicable, mark N/A)
Definition of Done (Note: If any of these points are not applicable, mark N/A)
Blocked By/Blocking
Notes:
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