What the agent does
- Read the day-count convention in the loan agreement
- Recompute the interest under the contractual convention
- Identify which side departed from the agreement and draft the correction
What you get back
Interest difference explained to the cent with the convention cited; correction drafted for the side that is off-contract.
Recomputation
| Loan L-2024-03 | Principal 2,000,000 @ 4.5% | Q3: lender 22,750.00 (act/360) | borrower 22,438.36 (act/365) | Agreement §3.2 says act/360 → borrower to accrue +311.64 |
Illustrative output. Figures and names are examples, not customer data.