Create installment rules

We can create installment rules to offer customers different installment payment options when they purchase items from the store catalog. Use installment rules to specify pricing information, such as minimum installment payment amount, interest rate, and the maximum number of installment payments without interest for categories and products.

Procedure

1. Open the Installments tool.

2. Use one of the following methods to create a installment rule:

   • From the File menu, select New > Installment Rule.

   • From the toolbar, click the arrow on the right side of ; then select Installment Rule.

3. In the Installment Rule Properties section, define the general information properties about the installment rule:

   Property	Description
   Name	Type a name that uniquely identifies the installment rule. For example, Furniture. This name is displayed in the Installments tool to identify the installment rule.
   Description	Enter a brief description for the installment rule. For example, 2-6 interest-free installments for furniture with a minimum payment of $25.00.
   Priority	Select the priority for the installment rule. When a single product qualifies for multiple installment rules, the installment rule with the highest priority is applied.
   Start date	Enter a Start date for the installment rule. If you do not specify a start date, the start date is set to the current server date at 12:00 AM when you save the installment rule. Optionally, we can specify a time of day for the Start date. For example, we can specify that the installment rule starts February 1, 2010 at 7:00 AM This field uses the time zone set in the Management Center preferences. The Start date defines when the installment rule becomes available on the storefront.
   End date	Enter an End date for the installment rule. If you do not specify an end date, the installment rule is in effect until you deactivate it. Optionally, we can specify a time of day for the End date. For example, we can specify that the installment rule ends February 14, 2010 at 10:00 AM This field uses the time zone set in the Management Center preferences. The End date defines when the installment rule is no longer available on the storefront.

4. Expand the Target Categories and Catalog Entries section and specify the categories and catalog entries that the installment rule applies to.

   Option	Description
   Include all catalog entries	Select this check box if we want the new installment rule to apply to all catalog entries.
   Included categories	Specify the categories that we want the new installment rule to apply to: Enter the name of a category and click Find and Add. Click to open the utilities view and search or browse for a category.
   Included catalog entries	Specify the catalog entries that we want the new installment rule to apply to: Enter the name of a catalog entry and click Find and Add. Click to open the utilities view and search or browse for a catalog entry.
   Excluded categories	Specify the categories that you do not want the new installment rule to apply to: Enter the name of a category and click Find and Add. Click to open the utilities view and search or browse for a category.
   Excluded catalog entries	Specify the catalog entries that you do not want the new installment rule to apply to: Enter the name of a catalog entry and click Find and Add. Click to open the utilities view and search or browse for a catalog entry.

5. Expand the Target Manufacturer section and select the Include all manufacturers check box if we want the new installment rule to apply to all manufacturers. Tip: If we want an installment rule to apply to multiple manufacturers, but not all manufacturers, create a separate installment rule for each manufacturer.

6. Expand the Target Payment Methods section and select the Include all payment methods check box if we want the new installment rule to apply to all payment methods.

   Note: To use an installment rule as the featured installment option for a product, the rule must apply to all payment methods. The featured installment option advertises the best available payment option for a product that is based on the number of installment payments and the interest rate. The featured installment option is selected from installment rules that apply to all payment methods. Installment rules that apply to specific payment methods are not considered when selecting the featured installment option.

7. Expand the Installment Options section.

   1. Select the currency used by all installment options in the installment rule.

   2. Click

      to add a installment option to the table:

   Option	Description
   Number of Installments	Specify the number of monthly installment payments to offer at the interest rate. For example, to offer the customer the option to pay for the product in three monthly installment payments at the specified interest rate, type 3.
   Interest Rate	Specify the interest rate for the installment rule.
   Minimum Installment Amount	Specify a monetary value for the minimum installment payment. For example, 100.00. This installment option displays only when the price of the selected product meets the minimum installment amount for the number of installments. For example, the following minimum installment amount option is not displayed when the price of the selected product is $100.00: 3 installments with a $50.00 minimum installment amount. Note: When a shopping cart contains multiple items, the installment options are based on the price of the entire shopping cart. For example, when a shopping cart contains one item with a price of $100 and five items with a price of $10.00 each, the following minimum installment amount is displayed since the price of the entire shopping cart is $150: 3 installments with a $50.00 minimum installment amount.

8. Click Save; then click Close.

What to do next

To make the installment rule available to customers, we must activate it.

Related concepts
Installments tool
Installment rules

Related tasks
Manage installment rules