3 Closure Initiation

This topic describes information about the Closure Initiation stage in Facility Closure.

In this stage, the user can close the liability / facilities provided to the customer as well as the collaterals provided as a security for the facility.

  1. On Home screen, select Credit Facilities. Under Credit Facilities, select Corporate. Under Corporate, select Facility Closure.
    The Facility Closure Initiation window is displayed.

    Figure 3-1 Facility Closure


    Description of Figure 3-1 follows
    Description of "Figure 3-1 Facility Closure"

    For information on fields in the Facility Closure screen, refer the below table.

    Table 3-1 Facility closure

    Fields Description
    Application Priority. Choose the facility closure Application Priority. The options available are: Low, Medium, and High.
    Application Branch Select the Application Branch. Bank branches maintained in the system are displayed in the LOV.
    Party Id Click the search icon in Party Id field and select the required customer. The system displays basic information of the customer along with the WIP applications created for the customer, and enables the Initiate Facility Closure button.
    Closure Type Select the Closure Type. The options available are Liability and Facility.
    Liability If the Liability option is selected, all the liabilities available for the selected customer are displayed.
    Facility If the Facility option is selected, all the facilities created for the selected customer are displayed in the Select Facilities drop down list.
    Initiate Facility Closure Select the required liability / facility and click Initiate Facility Closure The Company Name-Closure page is displayed..
  2. On Home screen, select Credit Facilities. Under Credit Facilities, select My Portfolio.
  3. Expand the required customer.
  4. Click Initiate Closure.
    The Company Name - Closure page is displayed.

    Figure 3-3 ACME Corporation- Closure

    ACME Corporation- Closure Details such as Closure Type

    For information on fields in the ACME Corporation- Closure screen, refer the below table.

    Table 3-2 ACME Corporation- Closure

    Fields Description
    Closure Type Select the Closure Type. The options available are Liability and Facility.
    Facility To close the facility, click the Facility option.
    Liability To close the liability, select Liability option.
    Upon selecting the Liability option, all the liabilities associated with the customer are displayed as shown below:

    Figure 3-4 ACME Corporation- Closure

    ACME Corporation- Closure Details such as Closure Type and Select Facilities.

    For information on fields in the ACME Corporation- Closure screen, refer the below table.

    Table 3-3 ACME Corporation- Closure

    Fields Description
    Submit Select the liability and click Submit. The Liability Closure screen is displayed.
    Facility To close the facility, click the Facility option.
    Upon selecting the Facility option, all the facilities associated with the customer are displayed as shown below:

    Figure 3-5 ACME Corporation- Closure

    ACME Corporation- Closure Details such as Closure Type and Select Facilities.

    For information on fields in the ACME Corporation- Closure screen, refer the below table.

    Table 3-4 ACME Corporation- Closure

    Fields Description
    Select Facilities Select the required facility from the Select Facilities drop down list.
    Submit Click Submit.The Facility Closure page is displayed.