3.1 Perfection Initiation

This topic provides information on the perfection stage in collateral substitution process.

Once the substitution request is captured, Collateral Perfection must be performed for the new collateral to create bank's charge on the new collateral.

In the Perfection Initiation stage, the basic details of the application along with collateral details must be captured. Upon submitting the initiation task, the application is available for the credit operations user to enrich the collateral perfection.

For more details refer the Collateral Perfection User Guide.