FOLIO Ontology

"The disc_credit field is used to track discounts and credits that the law firm may need to submit on the matter/invoice, and is structured in such a way that the segment supports many types of alternate fee arrangements. MIA - Matter/Invoice Adjustment - A flat adjustment (reduction or credit) applied at the matter/invoice level. MIB - Matter/Invoice Bonus - A bonus to be paid to the law firm on the matter/invoice. MICF - Matter/Invoice Contingency Fee - The contingency fee to be paid to the law firm on the matter/invoice.  A contingency fee in this instance is when the law firm is paid based on a percentage of the amount awarded to the client, usually in representing a plaintiff. MICM - Matter/Invoice Credit Memo - A credit memo, as requested by the client on the matter/invoice.  (In this case, it is the client who is processing the credit memo, not the law firm.  The credit memo represents a miscellaneous credit to the firm.) Note that a credit memo, as used here, is not the same thing as a Credit Note as used in INVOICE.credit_note. MIDB - Matter/Invoice Discounted Bill - Client receives a percentage discount assessed at the matter/invoice level.  Should have a maximum of one for fee items and one for expense items. MIDHR  - Matter/Invoice Discounted Hourly Rate - A discounted hourly rate applied at the matter/invoice level. MIFA - Matter/Invoice Funds Applied - Indicates the application of clients' funds or trust money to the total due on a matter/invoice. MIFF - Matter/Invoice is billed at a Flat Fee. MIR - Matter/Invoice Retainer - Used to bill a client for a retainer (an advance payment) to be paid to the law firm on the matter/invoice.  This could occur multiple times over the life of a matter. MISF - Matter/Invoice Shared Fee - Fee is shared with another client and the client only pays a percentage of the bill, applied at the matter/invoice level.  Should have a maximum of one for fee items and one for expense items. Other - Used to represent another type of AFA used by the client. "