Forfeiture

Forfeiture handles the cancellation of partly-paid or non-compliant shares where a member has failed to meet a call or breached a holding condition. The screen records the affected holding, the reason, and the units forfeited, then posts their removal and reallocates them to the SACCO's forfeited-shares pool. It enforces the by-law remedy for unpaid calls.

Workflow

Open Shares then Operations then Corporate Actions then Forfeiture.
Select the member holding subject to forfeiture and record the grounds.
Enter the units to forfeit and any amount already paid that is retained.
Submit for the required approval before the action takes effect.
Confirm to post the forfeiture and move the units to the forfeited pool.

Fields reference

Every field on this screen, drawn from the live data model.

Field	Type	Required	Description
Share Account `account_id`	Link → mfi.share.account	Yes	Share Account
Forfeiture Date `forfeiture_date`	Date	Yes	Forfeiture Date
Shares Forfeited `shares_forfeited`	Number	Yes	Shares Forfeited
Company `company_id`	Link → res.company	Yes	Company
Has Message `has_message`	Yes/No	—	Has Message
Reference `name`	Text	—	Reference
Member `member_id`	Link → mfi.member	—	Member
Currency `currency_id`	Link → res.currency	—	Currency
Reason `reason`	Long text	—	Reason
Amount Forfeited `amount_forfeited`	Money	—	Amount Forfeited
State `state`	Choice: Draft, Flagged, Done	—	State
Transaction `transaction_id`	Link → mfi.share.transaction	—	Transaction

Actions & buttons

Buttons available on this screen and what they do:

Execute Forfeiture

Status lifecycle

Records on this screen move through these statuses:

Draft → Flagged → Done

Notes & rules

Forfeiture is typically triggered by an unmet call or a breached eligibility condition.
Amounts paid before forfeiture are treated per the by-laws, often retained.
Forfeited units may later be reissued through a subsequent allotment.
The action is logged with reason and approver for audit and dispute handling.

Technical model: mfi.share.forfeiture · Record: MFI Share Forfeiture