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Contract activation in OC Loans App

Before creating Active Contract you need to create Calculation via Role Centrum Loans>Actions>New>Create New Loan. For more information use link How to create calculation. Then the process of transferring status from Calculation to Active Contract is simple:

Financing Card/Change Status

  • We are allowed to change status sequence following:

    • Calculation → Send Offer (changes status to Offer), Archive Contract (changes status to Archived)

    • Offer → Send to Approval (changes status to Waiting for Approval), Archive Contract (changes status to Archived)

    • Waiting for Approval → Approve Contract (changes status to Approved),  Archive Contract (changes status to Archived)

    • Approved → Sign Contract (changes status to Signed), Archive Contract (changes status to Archived)

    • Signed → Activate Contract (changes status to Active), Archive Contract (changes status to Archived)

    • Active → Suspend Contract (changes status to Suspend), Early Termination of Contract (changes status to Closing)

    • Suspend → Activate Contract (changes status to Active), Early Termination of Contract (change status to Closing)

    • Closing → Settling of Contract (changes status to Settling), Archive Contract (changes status to Archived)

    • Settling → Archive Contract (changes status to Archived)

    • Archived → we are not allowed to changed status of archived contract 

  • We are allowed to perform also reverse status changes

    • Closing → Activate Contract (changes status to Active)

    • Suspend → Activate Contract (changes status to Active)

    • Settling → Early Termination of Contract (changes status to Closing)

  • Basic contract statuses are displayed on Dashboard

  • Clicking on particular tile shows filtered contracts with this status, e.g. under tile Active can be found all active contracts.

  • Once you activate your contracts, you can post installments in Payments Calendar in two ways:

    • Manually

      • for separately posting use menu Home/Payment Calendar and click to the button Post.

      • Invoice is created and Payment Balance increases.

      • You can also cancel posted invoice.

    • Mass posting of installments

      • To post installments filtered by selected parameters use Processing>Financing Payment Posting>Post.

HowTo_Create_Contract5.png

Follow up:

How to create calculation in general

How to work with contract changes

How to create reminder in general