Payment Holiday
You can skip the periodic repayments for your active loans, as agreed in advance by both the lender and borrower. This feature is convenient when customers face economic crises due to individual or abnormal scenarios like COVID. All aspects of payment holidays are controlled by the bank, in agreement with the customer, and can be applied to any outstanding loan(s) of a customer.
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Initiate update payment holiday activity for a small business loan
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Simulate update payment holiday activity for a small business loan
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Retrieves payment holiday details for the given arrangement such as payment type, holiday date, original payment amount and new payment amount
Arrangement Maintenance
Manage tangible asset contract lifecycle actions
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Renegotiation of the terms & conditions of the chattel mortgage agreement
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Renegotiation of the terms & conditions of the lease agreement
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Rengotiation of the terms & conditions of the chattel mortgage agreement
Update Parties
POSTChange the parties involved in the asset finance agreement. The parties, simply are the customers acting as a lessee, guarantor or joint lessee.
Update Settlement
POSTUpdate the settlement instructions of the customer in order to transact with the asset finance agreement.
Update Officers
POSTChange the relationship/account officers who is dealing with the lessee's agreement.
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Update payment holiday for leasees , hire purchase and chattel mortgage asset finance agreements