This chapter describes the process of contract guarantee creation. The list of contract guarantees can be found on Financing Card under tab Home/Guarantees.
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Click on this button to open the Contract Guarantees List.
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Guarantee can be created using button New.
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Empty Contract Guarantee Card is opened to add new entry.
Contract Guarantee Card
General
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No.
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system automatically fills number if defined in No. Series
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Financing Contract No.
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Is populated automatically with the actual contract number
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Guarantor No.
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Guarantor can be selected from List of Contacts
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Subject Name
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Contact Name
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Guarantee Type
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Values defined in table Guarantee Types are displayed
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List can be modified in OneCore Setup
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Guarantee Type Description
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Date range of validity
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Status
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Preparation, Active, Closed
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Status must be changed manually from Preparation to Active or Closed
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Currency
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To be filled in case local currency is not used
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Nominal Value
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Can be manually inserted by user, it is adjusted value of an asset without taking into account deductions and premiums
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Nominal Value Date
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Workdate
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Current Value
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Can be manually inserted by user, it is the price at which the asset could be sold or settled as of the current date
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Current Value Date
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Workdate
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LTV %
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Calculated as Nominal Value/Principal Amount, can be modified
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Last Modify Date
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Workdate
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Total Actual Market Value
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Calculated field, total of Actual Market Values inserted on Contract Guarantee Object Cards
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Contract Guarantee Object Card
General
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Guarantee No.
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Is filled automatically
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Guarantee Object no.
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Automatic numbering, increasing by 1 with each new object within the guarantees on particular contract
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Object Name
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Text field
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Description
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Text field
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Object Address Code
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Alternative address code of particular contact
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Actual Market Value
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Numerical field allowing to insert the actual value of the object
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Property
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Expert Evidence Currency
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Possible to choose currency
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Expert Evidence Value
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Numerical field
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Expert Evidence Date
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Current date time
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Guarantee Co-Guarantor card
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Co-Guarantor
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The list of available contacts
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Subject Name
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Filled automatically based on selected contact
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Description
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Text field
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General information how to use this function:
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Guarantees is is possible to insert, edit or delete in any contract state.
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The contract guarantee can be removed using the Remove from the list of contract guarantees or directly from the card of the contract guarantee.
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Deletion can only be done in Guarantee Status = Preparation.
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Confirm by choice Yes the record is deleted, including the Guarantee Object and Co-Guarantor cards that were created under the contract guarantee.
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It is not possible to remove the guarantee in Guarantee Status = Active, in this case, the system will display an error message: “Status must be equal to ‘Preparation’ in Contract Guarantee No. xxx. Current value is 'Active'.