Key steps |
1. Making a guaranty payment demand
When a reservation has been contracted and validated by the guarantor, as a distributor you can declare a default and activate the guarantee payment demand.
To declare a default, go to the desired reservation, then click on “Consult detail” in the “ Loan servicing” section.
The request is made in 4 distinct stages: default events declaration, guarantee payment demand, guarantee payment and recovery(s).
💡Hints:
- To launch a guarantee payment demand, the default declaration must be sent to the program manager. Without this, this route remains blocked.
- A default declaration will not always lead to a guarantee payment demand, which is why the steps are separate.
1. Default events declaration
Please complete :
- Fault date
- Reason for fault (choose from the list set by the program manager)
- Then validate
Then click on “Send” to inform the program manager of the fault declaration. After sending the information, you automatically unlock the “guarantee payment demand” path.
💡 Tips:
- The reservation must be in validated status to be able to declare a defect. If the reservation has any other status, the route will be blocked.
- Defects are declared by financing object. If the reservation has several objects, remember to declare the defect for each object.
Once the fault declaration has been sent, only the program manager can modify it.
2. Guarantee payment demand
Once the declaration of defect has been sent, you can launch the guarantee payment demand. To do so, enter the following information:
- Event date
- Type of event
- Amount of capital loss
- Amount of interest loss
- The last field, “Indemnity requested”, is filled in automatically according to the program's coverage rate. This field can be edited as required.
Then click on “Send” to inform the manager of the guarantee call and release the guarantee payment and recovery(s).
Once the warranty call has been sent, only the program manager can modify it.
3. Payment of Guarantee
The guarantee payment declaration is the responsibility of the program manager : the payment information will be displayed automatically as soon as the manager has indicated the guarantee payment date in his reporting, and will be traced in the guaranty payment insert :
4. Recovery(s)
Indicate the various recoveries made in the recovery(s) insert.
To declare a new collection, enter :
- Recovery date
- Recovery amount
- The last field, “Recovery amount disburse to guarantor”, is automatically filled in according to the program's coverage rate. This field can be edited as required.
Remember to send the information to the manager for each recovery made, using the “send” button.
Once the collection has been sent, only the program manager can modify it.
2. Declare a contract event
When a booking has been contractualised and validated by the guarantor, as a distributor, you have the option to declare a contract event.
To declare an event, go to the relevant booking, then in the Loan lifecycle section, click on “Manage”. You will then have access to the Contract event(s) section.
In the event entry window, complete the available fields:
The following fields are mandatory:
-
Contract event type
The following fields are optional:
-
New frequency
-
New term
-
New final maturity date
-
New loan registration number
-
New registration number
-
Exclusion date
-
Repayment date
-
Other modified data
Once your entry has been saved, you may edit it, delete it, or send it.
- As long as your declaration has not been sent, the program manager will not have access to it.
- You can enter several contract events for the same financing object.
Once the action has been completed, you will no longer be able to edit the event – only the program manager will.