Charge Off
Borrowers can default on their payments due to economic or other personal crises. Under these circumstances, a bank may deem certain receivable amounts on the loan arrangement to be charged off. A charge off can be for the overdue amounts (partial) or the entire loan amount. Customers are not aware of a charge off and bills are generated as usual. However, the charged off balances are held in a separate account on the banks books (shadow balances).
Charge Off
PUTExecute loan charge-off activity to charge-off account balance only
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Retrieves the charge off balances of an arrangement account
Evidence
Manage subscription for asset finance contracts & assets
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Captures and accepts details based on the the outcome of an inspection, including data such as the inspector, inspection date, status, and any comments about the assets condition.
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Captures and accepts details when a vehicle has been inspected and officially accepted by the organization, documenting the data such as acceptance date, accepting party, and status.
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Captures and accepts details when an asset has been inspected and officially accepted by the organization, documenting the data such as acceptance date, accepting party, and status.
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Captures and accepts new insurance for an asset, specifying details such as the insurer, coverage amount, policy number, and coverage period.
Update Evidence
PUTUpdate the evidences to specify its approval or rejection status.
Fetch Evidences
GETRetrieves evidence information such as evidence id, description, activity, and effective date.
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Retrieves the list of newly acquired evidences which require an acceptance action to advance the status to accepted status.
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Retrieves evidence details for a lease agreement as per the covenants and condition