A.1.16 Active Military Duty (For Lease)
The Servicemembers Civil Relief Act of 2003 (SCRA), formerly known as the Soldiers and Sailors Civil Relief Act of 1940 (SSCRA), is a federal law that gives military members some important rights as they enter active duty military service. The law also provides protection against certain legal actions during the term of active duty military service. The SCRA function is currently available in the system for Lease.
- DO NOT CHARGE OFF
- DO NOT TERMINATE
- DO NOT REPOSSESS
Table A-32 To indicate that a borrower is on active military duty
| Transaction | Parameters |
|---|---|
| BORROWER ON MILITARY DUTY(FOR LEASE) | Txn Date |
| Borrowers Relation With Account | |
| Active Duty Order Reference |
After you post this transaction, the Military Duty box (Account Details screen Activities section) and Active Military Duty box (Customer Details screen Military Service section) are selected. Oracle Financial Services Lending and Leasing changes the condition of the account to ON ACTIVE MILITARY. Details of the transaction appear in the Military Services section on Customer Details screen.
Figure A-19 Active Military Duty (For Lease)
OFF-Military Duty (For Lease)
If the borrower is off-military duty, the transaction ‘BORROWER OFF MILITARY DUTY’ is posted to restore the interest and instalment amount for the remaining term.
Table A-33 To indicate that a borrower is no longer on active military duty
| Transaction | Parameters |
|---|---|
| BORROWER OFF MILITARY DUTY(FOR LEASE) | TXN DATE |
| BORROWERS RELATION WITH ACCOUNT |
After you post this transaction, the Military Duty check box (in Account Details screen Activities section) and Active Military Duty check box (in Customer Details screen Military Service section) are de-selected. Also the release date (i.e date when released from military duty) is updated in Customer Details screen. Oracle Financial Services Lending and Leasing changes the condition of the account to OFF ACTIVE DUTY.
Parent topic: Monetary Transactions