13.2 Modify Collection – Islamic – Settlement Details

This topic provides the systematic instructions to modify the settlement details.

User will be able to see the collection details along with the Base Date and Tenor and will be allowed to change the tenor, which automatically would get reflected in Maturity Date of the transaction.

The user can change whether collaterals are to be used and Advance by Loan is required or not.

To modify a Collection:

1. Navigate to Settlement Details tab of Modify Bill screen.

   Figure 13-4 Modify Collection – Islamic – Settlement Details

   
   

   

   
   

   For more information refer to the field description table below:

   Table 13-3 Modify Collection – Islamic – Settlement Details - Field Description

   Field Name	Description
   Party Name	Displays the name of the applicant.
   Import Collection Reference Number	Displays the Import Collection reference number.
   Product Name	Displays the import Collection product name under which the Collection is created.
   Collection Amount	Displays the amount of the import Collection.
   Settlement Details	This section displays the Settlement Details.
   Base Date	Displays the date that is considered as base date for Collection application.
   Tenor	Displays the tenor of the Collection.
   Pay with Collateral	Select this option whether collaterals are to be used. Click the View Collateral Details link to view the collateral details.
   Settlement Account	Option to select settlement account number. Select the settlement account number. Note: The balance in CASA account should be equal or more than the equivalent amount of claim in claim’s currency, which is being settled, in case of single claim being liquidated.
   Apply for Finances	Select this option to apply for a finances directly from the page. Bank would be informed that the corporate user is looking for a loan.
   Avalisation/Co acceptance Requested	The option allows the user to select if the Collection is to be avalised. The options are: Yes No

2. Select the Pay with Collateral option to settle the Collection using collaterals.
3. Click the View Collateral Details link to view the collateral details.
   The Collateral Details overlay screen appears.
4. Select the Settlement Account option, if he wishes to use it for Collection settlement.
   1. From the Settlement Account list, select the appropriate option.
5. Select the Apply for Finances option, if loans are to be used for bill settlement.
   1. Select the ppropriate option from the Settle Available Balance list.
   2. From the Finance Product list, change the product if required.
6. In the Tenor field, modify the value for tenor, if required.
7. Perform any one of the following actions:
   • Click Next to save the entered details and proceed to the next level.
   • Click View Collection Details link at top right corner of the screen to view the Collection details.

     The View Import Collection Under LC – Islamic screen appears.

   • Click Cancel to cancel the transaction, The Dashboard appears.
   • Click Back to navigate back to previous screen.