On Pmt Date

Key On Pmt Date in Contingent Claim refers to an optional date that becomes relevant only if the trigger function Trigger Fn evaluates to TRUE during a particular simulation run.
In that latter case, the amount returned by the payoff function defined through the key On Pmt Fn is paid by default at the same time when that function is valuated.
It is possible though to postpone the payment to a latter time by one of two alternative ways:
1)By adding the time interval to the payoff function's valuation time through the key On Pmt Delay.
2)By specifying the payment time directly through the entry here.
Note that not both of these two specifications above may be used simultaneously.
If none of them is used, the payment is made at the payoff valuation time, as mentioned above.