3.3 Seniority of Charge

This topic provides systematic instructions about the Senioity of Charge data segment in Evaluation Enrichment stage.

This data segment allows user to add details about the bank's seniority of charge on the collateral. If your bank's Seniority of Charge is Second or Third, then the existing Charge details of the collateral mut be captured.

Figure 3-4 Enrichment - Seniority of Charge


Description of Figure 3-4 follows
Description of "Figure 3-4 Enrichment - Seniority of Charge"

To add existing charge details:

  1. Click the add icon.
    The Enrichment - Seniority Details screen is displayed.

    Figure 3-5 Enrichment - Seniority Details


    Description of Figure 3-5 follows
    Description of "Figure 3-5 Enrichment - Seniority Details"

  2. Specify the senioity details by referring the below table.

    Table 3-3 Enrichment - Seniority Details - Entity Details - Field Description

    Field Description

    Entity Name

    Capture the name of the entity which has an existing charge on the collateral.

    Percentage Owned

    Capture the existing entity's percentage of Charge on the collateral.

    Note: The total percentage owned by the existing charge holders cannot be 100.

    Point of Contact

    Capture the Point of Contact of the charge holding entity.

    Seniority

    Specify the existing entity's Seniority of charge on the collateral.

    Figure 3-6 Enrichment - Seniority Details - Branch Details


    Description of Figure 3-6 follows
    Description of "Figure 3-6 Enrichment - Seniority Details - Branch Details"

    Table 3-4 Enrichment - Seniority Details - Branch Details - Field Description

    Field Description

    Branch Name

    Specify the Branch Name of the entity which has an existing charge on the collateral.

    House/Building

    Specify the name of the building where the entity branch is located.

    Street

    Specify the Street in which the entity branch building is located.

    Locality

    Specify the Locality of the entity branch.

    Landmark Specify the Landmark for the entity branch.
    Area Specify the Area of the entity branch.
    City Specify the City in which the entity branch is located.
    State Specify the State in which the entity branch is located.
    Zip-Code Specify the Zip-Code of the city.
    Country Specify the Country in which the entity branch is located.
    Email Address Specify the branch Email Address.
    Phone Number Specify the branch Phone Number.
  3. Click Add.
    The details are added and displayed in the Enrichment - Seniority of Charge screen.
  4. To Edit, View, or Delete the added seniority details, click the action icon in the corresponding record and select the required option.
  5. Click Next, after adding the seniority details.
    Any of the following screen is displayed based on the collateral type selected in the Quick Initiation screen.
    • Property
    • Vehicle
    • Ship
    • Aircraft
    • Machine
    • Bonds
    • Funds
    • Stocks
    • Deposits
    • Guarantee
    • Insurance
    • Precious Metals