4.2 Collateral Details

This topic provides systematic instructions about the Collateral Details data segment in the Perfection Initiation stage.

The system defaults the Collateral and Application details captured as part of Quick Initiation in this data segment and allows you to modify the same. Upon selecting the application category, the documents to be uploaded and the Checklists applicable for the stage are defaulted in Document Upload and Checklists screens based on the application category selected.
  1. From Home screen, click Tasks. Under Tasks, click Free Tasks.
    The Free Tasks screen is displayed.

    Figure 4-1 Free Tasks


    Description of Figure 4-1 follows
    Description of "Figure 4-1 Free Tasks"

  2. Click Acquire & Edit in the required Initiation task.

    The Initiation - Collateral Details screen is displayed.

    Figure 4-2 Initiation - Collateral Details


    Collateral details

  3. Provide the details in the Initiation - Collateral Details screen.

    For more information on field description, refer the below tables.

    Table 4-1 Collateral Details - Customer Details - Field Description

    Field Description

    Customer Id

    Displays the customer ID.

    Customer Name

    Displays the customer name.

    Table 4-2 Collateral Details - Collateral Details - Field Description

    Field Description

    Collateral Type

    Collateral Type selected in the Add Collateral window is defaulted. You cannot modify this.

    Collateral Currency

    Collateral Currency selected in the Quick Initiation screen is defaulted. You can modify the Collateral Currency, if required.

    Owner Estimated Value

    Owner Estimated Value of the collateral specified in the Quick Initiation screen is defaulted. User can change this value, if required.

    Purpose of Collateral

    Purpose of the Collateral selected in the Quick Initiation screen is defaulted. User can select different option from the following list:

    • New Facility
    • Enhancement Of Limit
    • Replacement Of Collateral
    • Augmentation Of Collateral

    Collateral Description

    Collateral Description provided in the Quick Initiation screen is defaulted. User can modify the description, if required.

    Seniority of Charge

    Select the bank’s Seniority of Charge on the collateral. The following options are available in the drop down list.

    • First
    • Second
    • Third
    • Primary

    Available From

    Specify the date from which the collateral is available.

    Available Till

    Specify the date till which the collateral is available.

    Table 4-3 Collateral Details - Ownership Details - Field Description

    Field Description

    Ownership Type

    Select the Ownership Type from the drop down list. The following options are available in the drop down list

    • Single
    • Joint

    Is Shareable Across Customers?

    Enable the toggle, if the collateral is shareable across customers.
  4. After adding or modifying the collateral details, click Next.