Recurring Payments
Recurring payments in FSCharter are automatic, repeating charges tied to multi-period commitments. They are used for things like slot or stand agreements and for loans. Instead of paying a lump sum up front, the cost is spread into regular payments each cycle. These payments are based on your company clock, meaning an active company flying a lot will see recurring charges more frequently, while a quieter company will advance through billing cycles more slowly.
Upfront vs. End-of-Cycle
FSCharter supports two timing modes for these recurring bills:
Upfront Billing (Agreements): Payments for ongoing agreements (like airport slot or stand leases) are charged at the start of each cycle. When you sign a new agreement, FSCharter immediately takes the first payment, and then takes payment again at the beginning of each new billing period.
End-of-Cycle Billing (Loans): Payments for loans are charged at the end of each cycle. For a loan, FSCharter pre-calculates a fixed installment (an "EMI" amount) that covers part interest and part principal. After each billing period ends, that fixed amount is charged automatically. This continues each cycle until the loan's term is complete.
You can think of it as choosing whether each payment is collected at the beginning or end of each period. In practice, agreements always use the upfront model (first payment immediately, then at each new period), while loans use the end-of-cycle model (pay after each cycle finishes).
Minimum Terms and Cancellation
Some recurring plans have a minimum term. Each agreement variant in FSCharter can specify a minimum number of billing cycles before it can be cancelled. For example, a lease might require a 4-week minimum commitment; if you try to cancel earlier, the system will prevent it until the required cycles have passed. Likewise, each loan product defines minimum and maximum term lengths (in cycles).
If you cancel an agreement after its minimum term, the recurring payment schedule simply stops. (Note that cancelling an agreement does not trigger any refunds for past payments.) For loans, once the final cycle payment is made and the balance is paid off, the loan closes and no further recurring payments occur.