3 Collateral Liquidation Initiation

This topic describes the information about the Collateral Liquidation Initiation stage in Collateral Liquidation process.

Collateral Liquidation process can be triggered from both the mid-office and back-office systems based on the performance of the account to which the collateral is linked. In case of back-office system, the system lists the task in the free task queue once the collateral liquidation task is initiated. The user must acquire and edit the task from the Free Tasks menu.

To initiate Liquidation Process in OBCFPM:

1. From Home menu, click Collaterals. Under Collaterals, click Liquidation.
   The Liquidation Initiation screen displays..

   Figure 3-1 Liquidation Initiation

   
   

   
   Description of "Figure 3-1 Liquidation Initiation"

   
   
2. Fetch the required collateral.
   User can specify collateral details in the below fields to fetch the collateral record.

   • Selected Customer
   • Collateral ID
   • Collateral Type
   • Collateral Category
3. Select the required collateral and click Initiate Liquidation.
   The Collateral Liquidation Initiation - Collateral Details screen is displayed.
4. From Tasks, click Free Tasks.
   The Free Tasks screen displays.

   Figure 3-2 Free Task

   
   

   
   Description of "Figure 3-2 Free Task"

   
   

• Collateral Details
  This topic provides the systematic instructions about the Collateral Details data segment in Collateral Liquidation Initiation stage.
• Property
  This topic provides information about the property data segment in Collateral Liquidation Initiation stage.
• Seniority
  This topic provides information about the Seniority data segment in Collateral Liquidation Initiation stage. The Seniority data segment displays the collateral's seniority of charge details. If the bank's charge on collateral is second or third charge, all the pervious charge details is also displayed.
• Linked Transaction
  This topic provides information about the Linked Transaction data segment in Collateral Liquidation Initiation stage.
• Liquidation Details
  This topic provides systematic instructions about the Liquidation Details data segment in Collateral Liquidation Initiation stage. The Liquidation Details data segment allows user to capture all the attributes pertaining to the Collateral Liquidation
• Comments
  This topic provides systematic instructions about the Comments data segment in Collateral Liquidation Initiation stage.Comments data segment allows user to capture overall comments for the Collateral Liquidation Initiation stage. Capturing comments helps the user of next stage to better understand the application.