Rule Evaluation definition
Rule Evaluation means when Customer submits a Rule to the LoanPro Service’s Rule service for evaluation, which may be in either of two formats. (a) TRUE/FALSE results or (b) Formula Resulting in Numeric Value. When the LoanPro Service performs a Rule Evaluation, it checks the conditions of an Account to see if it qualifies under that Rule; if so, the LoanPro Service will take the action specified by the applicable tool (e.g., send an email, update a setting, etc.). The Rule service is critical and core functionality to LoanPro Service. Rules are evaluated for at least the following areas of the Software: Recurring Charges, Computation Fields, Rules Applied, Flags, Stoplights, Trigger Notifications, and others. A Rule Evaluation is considered to have occurred regardless of the result of the evaluation. Rule Evaluations are designed to run at least once per day and, depending on the tool utilizing the Rule service, Rule Evaluations may be run each time a change is made on an Account, or running the calculator on an Account.