Consolidated Payoff Quote

A.2.45 Consolidated Payoff Quote

You can generate a consolidated payoff quote for any combination of Master and its associated accounts which includes the consolidated amount owed on all selected accounts. A payoff quote can either be generated for current or future date, but not on a back date.

However, you can also generate a payoff quote for individual account. For information on how to generate a payoff quote on individual account, refer to Payoff Quotes section.

Consolidated Payoff Quote can be generated anytime by posting CONSOLIDATED PAYOFF QUOTE (PAYOFF_CONSOLIDATE) non-monetary transaction in Servicing > Customer Credit Limit > Transactions tab.

Table A-135 To generate Consolidated Payoff Quote

Transaction	Parameters
CONSOLIDATED PAYOFF QUOTE	TXN DATE Select the transaction date from adjoining calendar.
PAYOFF QUOTE VALID UPTO DATE Select the date till when the payoff quote is valid from adjoining calendar. System calculates Accrued Interest on account till the date specified.
PAYOFF QUOTE LTR PRINT Select either YES or NO from drop-down list. If selected as YES, then a Payoff Quote Letter with specific format is generated. The value of parameters in the letter are fetched from variables defined in the configuration.
COMMENTS Specify additional information (if any).
ACCOUNT NUMBER Specify the required accounts separated by comma. This can have a combination of both Master and its Associated accounts.
LEASE BUYOUT INDICATOR This parameter is applicable for Lease Account only. Select either YES or NO from drop-down list to indicate if the lease contract is available for buyout option.

Transaction

Parameters

CONSOLIDATED PAYOFF QUOTE

TXN DATE

Select the transaction date from adjoining calendar.

PAYOFF QUOTE VALID UPTO DATE

Select the date till when the payoff quote is valid from adjoining calendar. System calculates Accrued Interest on account till the date specified.

PAYOFF QUOTE LTR PRINT

Select either YES or NO from drop-down list. If selected as YES, then a Payoff Quote Letter with specific format is generated. The value of parameters in the letter are fetched from variables defined in the configuration.

COMMENTS

Specify additional information (if any).

ACCOUNT NUMBER

Specify the required accounts separated by comma. This can have a combination of both Master and its Associated accounts.

LEASE BUYOUT INDICATOR

This parameter is applicable for Lease Account only. Select either YES or NO from drop-down list to indicate if the lease contract is available for buyout option.

On successfully posting the transaction, a confirmation message is displayed in the Results section indicating the date on which the transaction is posted along with below details:

The TOTAL PAYOFF QUOTE IN section indicates currency-wise consolidation payoff quote i.e. if multiple accounts are selected for consolidation with different currencies, then consolidation is listed for accounts with same currency and subsequently for other/individual currencies.
Subsequently, individual payoff quote is generated and displayed for each of the Associated account selected along with Master account payoff quote (if selected).

Parent topic: Nonmonetary Transactions