2 Collateral Perfection Overview
This topic provides information about the Collateral Perfection process in OBCFPM.
Collateral Perfection is a process in which the customer approaches the bank and
requests the bank to evaluate the collateral. The Bank does an detailed collateral
perfection and informs the customer about the collateral value. The various activities
performed for Collateral Perfection are:
- Input Application Details
- Upload of related Mandatory and Non Mandatory documents
- Verify Documents and Capture Details
- Internal/External Legal Opinion
- Risk Evaluation
- Internal/External Valuation of the Collateral
- Field Investigation
- Generate Collateral Agreement
- Receive the customer acceptance of the Collateral Agreement
- Collateral Submission
- Collateral Safekeeping
The flowchart illustrating the stages in Collateral Perfection process is provided below
for reference:
Figure 2-1 Collateral Perfection Process Flow Chart
