- Bilateral Loans
- Processing Repayments
- Making Manual Payments
- Viewing the Schedule Break-up Details
- Marking Contracts as Liquidated
7.10.8.10 Marking Contracts as Liquidated
You can select active commitment and loan contracts and change the status to
Liquidated, if the contract satisfies all criteria for
liquidation status. This can be done through the Mark Liquidated
screen.
Specify the User ID and Password, and
login to Homepage.
- On the homepage, type OLDMKLIQ and click next
arrow.The Mark Liquidated screen is displayed.
Note:
The fields which are marked in asterisk red are mandatory fields. - You can specify below details in this screen. For information on fields, refer
to the field description table.
Table 7-5 Mark Liquidated
Field Description Contract Ref No Specify the contract reference number. Alternatively, you can also select it from the option list. The list displays active commitment and loan contracts. Facility Name System displays the facility name once the contract reference number is chosen. You cannot modify this field. Branch System displays the branch once the contract reference number is chosen. You cannot modify this field. Department System displays the department name once the contract reference number is chosen. You cannot modify this field. Principal Outstanding System displays the outstanding principal amount once the contract reference number is chosen. You cannot modify this field. Contract Amount System displays the contract amount once the contract reference number is chosen. You cannot modify this field. Counterparty System displays the counterparty once the contract reference number is chosen. You cannot modify this field. Value Date System displays the value date once the contract reference number is chosen. You cannot modify this field. Mature Date System displays the maturity date once the contract reference number is chosen. You cannot modify this field. Remarks You may add remarks if you wish to, in this field. The following operations can be performed through this screen:Note:
You can only change status from Active to Liquidated; no other status change can be done from this screen.- New - This operation initiates contract status change for a contract. When you click on New button, the Contract Ref No is enabled and you can select the required contract to be liquidated.
- Save - During this operation, system performs the contract lock check
and if the selected contract is locked by any other user, save operation
fails.
- When there is no contract lock, system validates whether the status of the contract can be changed to Liquidated. Once all validations are successful, the following override message is displayed: Contract will be liquidated. Proceed?
- If the override is selected as Yes, the contract status is changed from Active to Liquidated and LIQD event is registered. If the override is selected as No, save operation fails.
- Authorization - During this operation, LIQD event is authorized.
- Delete - During this operation, saved and unauthorized status change of the contract is deleted.
Note:
The branch and department code restrictions and maker and checker functionality is applicable to this screen.Validations
The system performs the following validations during the save operation in Mark Liquidated screen.- Validation for loan contracts;
- Contract should be in Active and authorized status.
- There should be no outstanding amount for any Principal and Interest/Fee component.
- Validation for commitment contracts:
- Contract should be in Active and authorized status.
- There should be no outstanding amount of any Principal and Fee components.
- Commitment cannot be marked as liquidated if any underlying loans are in Active or Uninitiated or Hold status.
- Maturity date of the commitment should be less than or equal to application date.
- Commitment cannot be liquidated if any Straight Through Processing (STP) failure records exist for that commitment in STP browser.
This topic contains the following sub-topics:
