4 Covenant Review
In this stage, the credit or monitoring team must derive the covenant formula
with the available Document/MIS/Financial Information and check if the borrower has
either met or breached the covenant. The system also derives the formula for Financial
Covenants and displays the compliance status automatically for all the covenants for
which monitoring information is available in Balance Sheet, Profit and Loss, or Cash
Flow Statement.
To Acquire & Edit the Covenant Review task, navigate
to Tasks > Free Tasks from the left menu and select the required
task.
The Covenant Review screen is displayed.
Figure 4-1 Covenant Review - Covenant Tracking
In the Covenant Review screen, the following actions can be performed for each covenant individually:
- Update Covenant details
- View Covenant details
- Upload / download Documents
- View Covenant History