3.16 Authorize a Contract

This topic describes the contract authorization.

You have to save a contract after entering all the required details in the system. Click Save icon on the Toolbar or choose 'Save' from the Actions menu to save an account. The system updates this as an unauthorized contract. To authorize an account, click Authorize on the Application toolbar.

Note:

You cannot authorize a contract from the Money Market Contract Input screen in the following cases:The contract has multilevel of authorization pending; the same is done using the Multilevel Authorization Detailed screen. The level of authorization is greater than or equal to 'N. 'The 'Nth' or the final level of the user's authorization limit is less than the difference between amount financed and some of the limits of all the users involved in authorizing a transaction; this case holds good when the 'Cumulative' field is checked in the Product Transaction Limits Maintenance screen. The transaction amount is greater than the authorizer's authorization limit if the 'Cumulative' field is unchecked in the Product Transaction Limits Maintenance screen.

• Multilevel Authorization of a Contract