Liquisim can model all payment types that appear in a typical deal. This includes not only bond cash payments, but PDLs, reserve replenishment, liquidity facility, as well.

Users can select multiple source funds for a payment, e.g. the interest of tranche A should be paid first from interest collections and then - if no more interest cashflow is available - the reserve fund.

Various conditions can be set up: these can capture, for example, the level of the reserve fund, the amounts on the PDLs. Conditions can be used in the waterfall or for the reserve fund or the liquidity facility.

There's also the possibility to set limits on waterfall payments.