6 Legal Opinion

This topic provides detailed information about the Legal Opinion stage in the Collateral Evaluation Process.

In this stage, the Legal Officer in bank must review the collateral and its documents to check if the collateral can secure bank’s exposure. In general, legal department in the bank considers the following possible aspects

• How helpful the local jurisdiction is in facilitating quick disposal and recovery of money (legal processes related to collateral sale)
• Whether the collateral submission has been duly authorized by customer’s board (board resolution to authorize company management to provide collateral)
• In case of existing first charge, will there be any issue in claiming

The following data segments are available for the legal user in this stage to review the collateral and provide Legal Opinion.

• Collateral Summary
• Legal Opinion
• Comments

• Collateral Summary
  This topic provides systematic instructions about the Collateral Summary data segment in the Legal Opinion stage.
• Legal Opinion
  This topic provides systematic instructions to capture legal opinion for the collateral.
• Comments
  This topic provides systematic instructions about the Comments data segment in the Legal Opinion stage.