8 Base Price Approval

This topic provides systematic instructions about the Base Price Approval stage in Collateral Liquidation process.

In this stage, the Credit Approver or the user authorized to edit the Base Price Approval task must view the base price details and base price review comments added in previous stages and make decision to approve or reject the liquidation application.

The data segments available in the Base Price Approval stage are same as that of Base Price Fixation stage. For field level information, refer the Base Price Fixation topic.

To approve or reject the base price fixed for the collateral:

  1. From Home screen, click Tasks. Under Tasks, click Free Tasks.
    The Free Tasks screen is displayed.

    Figure 8-1 Free Tasks


    Description of Figure 8-1 follows
    Description of "Figure 8-1 Free Tasks"

  2. Acquire & Edit the required Base Price Approval task.
    The Base Price Approval - Collateral Details page is displayed.

    Figure 8-2 Base Price Approval_Collateral Details


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    Description of "Figure 8-2 Base Price Approval_Collateral Details"

  3. Click Next and navigate to Base Price Fixation data segment.

    Figure 8-3 Base Price Approval


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    Description of "Figure 8-3 Base Price Approval "

  4. Capture the Approval Comments and click Next. .
    The Base Price Approval - Comments screen is displayed.

    Figure 8-4 Base Price Approval_Comments


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    Description of "Figure 8-4 Base Price Approval_Comments"

  5. Type the comments for the Base Price Approval stage in the Comments text box.
  6. Click Post.
    Comments are posted below the Comments text box.
  7. To submit the Base Price Approval task, click Submit.
    The Checklist window is displayed.

    Figure 8-5 Base Price Approval_Checklist


    Description of Figure 8-5 follows
    Description of "Figure 8-5 Base Price Approval_Checklist"

    Note:

    In the above window, checklist for the stage appears if it is configured in the Business Process Maintenance. You have to manually verify the checklist and enable the corresponding check box.
  8. Select the required Outcome.
    The available options are:
    • Approve
    • Reject
  9. Click Submit.
    If the Outcome is selected as Approve, the application is moved to the next stage.

    If the Outcome is selected as Reject, the application is rejected and the liquidation process is completed.