5.1 Initiate Finance Amendment

This topic describes the systematic instruction to initiate finance amendment to modify the outstanding finances/loans for corporate customers.

The user can manually initiate an amendment transaction in the Finance Amendment screen. You can search and select the finances to amend, and initiate the amendment process. Multiple finances can be selected for amendment. For each finance reference number you select, an amendment transaction is created under Free Tasks.

Specify User ID and Password, and login to Home screen.

1. On Home screen, click Supply Chain Finance. Under Supply Chain Finance, click Finance Amendment.
   The Finance Amendment screen displays.

   Figure 5-1 Finance Amendment - Finance Search/Selection

   
   

   
   Description of "Figure 5-1 Finance Amendment - Finance Search/Selection"

   
   
2. Specify the fields on Finance Search/Selection section to search for the finances against which amendment needs to be initiated.

   Note:

   The fields marked as Required are mandatory.

   For more information on fields, refer to the field description table.

   Table 5-1 Finance Search/Selection - Field Description

   Field Name	Description
   Branch	Select the account branch.
   Finance Reference No	Specify the reference number to search for the finance.
   Finance Status	Select the current status of the finance. The available options are: Disbursed Partial Settled
   Product	Select the product for which the finance is processed.
   Program	Click the search icon to select the program for which the finance is processed.
   Supplier	Click the search icon to select the supplier party of the finance.
   Buyer	Click the search icon to select the buyer party of the finance.
   Borrower	Click the search icon to select the borrower.
   Date Reference Basis	Select the value to specify the reference for date criteria. The available options are: Finance Date Finance Maturity Date Processing Date
   Date Range	Click the calendar icons and select the required starting and ending ranges for the date to search for the finance. This field is enabled only if any value is selected in the Date Reference Basis field.
   Delinquency Status	Select the current delinquency status of the finance. The available options are: Normal Doubtful Past Due Obligation Watch Status Non-Accrual Basis Pending Closure Commitments Loss Write Off
   Currency	Select the currency of the finance to search for.
   Finance Amount From	Specify the start of the amount-range within which the finance needs to be searched.
   Finance Amount To	Specify the end of the amount-range within which the finance needs to be searched.

3. Click Search after you specify the required details in the Finance Search/Selection section.
   The List of Finances section displays with the list of finances in the grid.

   Figure 5-2 List of Finances

   
   

   
   Description of "Figure 5-2 List of Finances"

   
   

   Table 5-2 List of Finances - Field Description

   Field Name	Description
   Bulk Amendment	Switch the toggle ON to initiate amendment for multiple finances together.
   Finance Reference No	Displays the reference number of the finance.
   Program	Displays the name of the program that is linked to the receivables that have been financed.
   Supplier	Displays the name of the supplier for the finance.
   Buyer	Displays the name of the buyer for the finance.
   Finance Start Date	Displays the start date of the finance.
   Tenor	Displays the tenor of the finance.
   Finance Maturity Date	Displays the maturity date of the finance.
   Grace Days	Displays the number of days past the finance due date, within which the finance can be settled without penalty.
   Past Due Date	Displays the new due date post the initial finance maturity date.
   Finance Amount	Displays the amount that has been financed.
   O/S Amount	Displays the total outstanding amount of the finance.
   View Amendments	Click the hyperlink to view the modified details of the finance amendment transaction. This field column appears only if any finance(s) is modified for amendment.
   Amendment section	This field displays the following fields to modify the finance details to inititae amendment.
   Maturity Date	Enter the new maturity date of the finance. This date has to be greater than the current business date.
   Grace Days	Displays the number of days past the finance due date, within which the finance can be settled without penalty. This field is displayed only if a single finance is selected.
   Past Due Date	Displays the new due date post the initial finance maturity date. This field is displayed only if a single finance is selected.
   Total Finances	Displays the total number of the finance(s) amended.
   Total Finance Amount	Displays the total finance amount of the finance(s) amended.

4. Click the checkbox to select the required finance(s) for which amendment needs to be initiated. Switch the Bulk Amendment toggle ON to select multiple finances.
   • Click the hyperlink in the Finance Reference Number column to view more details on the finance. The Finance Details pop-up screen displays.

     Figure 5-3 Finance Details

     
     

     
     Description of "Figure 5-3 Finance Details"

     
     
5. Modify the Maturity Date for the selected finance(s).
6. Click Apply to modify the finances.
   • Click Undo to revert the changes.
   • Click View Amendment Details hyperlink next to the finance(s) to review the previous and new values of the finances that are modified.
   The View Amendments Details screen displays.

   Figure 5-4 View Amendment Details

   
   

   
   Description of "Figure 5-4 View Amendment Details"

   
   
7. Click Submit to initiate amendment against the selected finances.
   • Click Cancel to cancel the amendment initiation process.
   An amendment task is created in the system based on the associated program/product parameters.