Premium System Settings

Overview of the System Settings

Within Tinubu Surety Solution for Carriers (TSC), administrator users can access system settings to modify how certain functions are handled. These settings allow each client to customize certain areas of TSC to best fit their business practices.
There are many settings within TSC that are pre-configured whenever a new site is delivered. These should not be changed. This article is to point out and explains the settings which are available for clients to modify to meet their needs.
After any changes are made to settings within TSC, be sure to save the changes with the ‘Save’ button and clear the application cache with the ‘Clear Cache’ button at the top of the Settings page for the changes to take effect.

The Premium settings are for adjustments to how certain premium features in TSC are calculated.
Select Setup/Settings and click on the triangle to view the Premium menu.

The AddDaysToExpiration setting allows the system to add one day to yearly bond terms to calculate the expiration date to be equal to the effective date of the bond plus the number of years the bond term is for.
- For example, a one-year bond effective on 1/1/2020 will expire on 1/1/2021. If not using this setting the same bond would expire on 12/31/2020. To enable this setting, enter 1 into the Value column of the setting. To disable this setting, enter 0 into the Value column of the setting.
Only 0 or 1 can be entered as values for this setting.

The CompletionTimeOffsetMonths setting sets the number of months before a completion time surcharge begins to be applied if the bond configuration has the Completion Time Surcharge enabled.
- This is set on a bond configuration. Please refer to the Configuring the Premium Calculation for a Bond guide for more information.

The CompletionTimeSurchargeRate setting sets the rate for the Completion Time Surcharge. The Completion Time Surcharge is set on a bond configuration.

The LowestCreditScore setting adjusts credit score rules and premium rate definitions using credit score ranges. When used, the lowest credit score from people on a bond application will be used to determine the rule decision and/or the credit score range item to be used for a premium rate definition.
- Enter True or False into the Value column for the setting.

The RetainageRate setting designates the value of the retainage premium per unit of penalty for contract bonds.

The RoundMaintenanceAndCompletionTime setting designates if Maintenance charges and Completion Time Surcharges will be rounded.
- The rounding type will be determined by the RoundMaintenanceAndCompletionTimeType.

The RoundMaintenanceAndCompletionTimeType controls the rounding type for the Maintenance charge and the Completion time Surcharges based on the entered value.
Accepted Values: M, C, A, I. M - Round maintenance only. C - Round completion time only. A - Add both fees and round together. I - Round each fee individually

The RoundMunicipalTaxes setting designates if municipal taxes for a bond are rounded before being combined into the total premium.
- Enter True or False into the Value column for the setting.

The RoundPremiumAtEachTierCommercial setting designates if the premium for a bond is rounded at each tier for a premium rate for commercial bonds.
- Enter True or False into the Value column for the setting.

The RoundPremiumAtEachTierContract setting designates if the premium for a bond is rounded at each tier for a premium rate for contract bonds.
- Enter True or False into the Value column for the setting.

The RoundPrepaidYearsAnnually setting designates if the premium for a bond is rounded for each pre-paid year for an Annual bond when purchasing multiple pre-paid years.
- Enter True or False into the Value column for the setting.

The RoundStateSurcharge designates if the state surcharge for a bond is rounded before being combined into the total premium. Enter True or False into the Value column for the setting.

The SuppressModifiersForFees setting disallows the modification of Maintenance, Completion Time Surcharge, or Retainage fees by rate modifiers including rule modifiers, account rate factors, or account rate modifiers.
- Enter a pipe (|) delimited list of the fields to have the modifiers suppressed for (Maintenance|Retainage|Completion).

The TaxCompletionAndMaintenance setting includes the base premium, maintenance premium, and completion time surcharge as part of the calculation for the state surcharge and tax calculation fields.

The UseBankerRounding setting enables banker rounding for premium calculations. Enter True or False into the Value column for the setting.

The UseRiderProRating setting enables Pro Rating when issuing a Rider.
- Enter True or False in the Value column for the setting.
- An additional message has been added to alert performing the Cancel Bond, Reinstate, and Reinstate After Cancel bond actions to ensure the user is entering the proper effective date of action for the pro-rating calculation.