9.5.1.3 Remarketing Status List
Following are the status available for collateral remarketing. Based on each status, there can be interaction between OFSLL and third party auctioning system. Ensure that the Current and Next status are defined in cycle setup definition (COL_REMA_DISP_STATUS) in Setup > Collection Cycles screen.
Note that the status indicated as (manual) in the below table are to be updated manually in OFSLL Remarketing screen.
Table 9-4 Remarketing Status List
| Status | Description |
|---|---|
| NEW (Manual) | New remarketing request created in OFSLL. |
| SEND TO AUCTION (Manual) | Remarketing request sent from OFSLL to third party auctioning system. |
| AUCTION ACCEPTED | Response from third party auctioning system indicating that the remarketing request is accepted. |
| AUCTION REJECTED | Response from third party auctioning system indicating that the remarketing request is rejected. |
| UPDATE TO AUCTION (Manual) | Changes to remarketing request sent from OFSLL to update in third party auctioning system. |
| UPDATE ACCEPTED | Response from third party auctioning system indicating that the changes to remarketing request are accepted. |
| UPDATE REJECTED | Response from third party auctioning system indicating that the changes to remarketing request are rejected. |
| RECEIVED UPDATE | Response from third party auctioning system on updates to the remarketing request. |
| HOLD (Manual) | Hold remarketing request sent from OFSLL to third party auctioning system (Ex: payment/updates from customer). |
| HOLD ACCEPTED | Response from third party auctioning system indicating that Hold remarketing request is accepted. |
| HOLD REJECTED | Response from third party auctioning system indicating that Hold remarketing request is rejected. |
| VOID (Manual) | Void (decline) remarketing request sent from OFSLL to third party auctioning system. |
| VOID ACCEPTED | Response from third party auctioning system indicating that Void remarketing request is accepted. |
| VOID REJECTED | Response from third party auctioning system indicating that Void remarketing request is rejected. |
| REDEEM (Manual) | Redeem (pull back) remarketing request sent from OFSLL to third party auctioning system. |
| REDEEM ACCEPTED | Response from third party auctioning system indicating that Redeem remarketing request is accepted. |
| REDEEM REJECTED | Response from third party auctioning system indicating that Redeem remarketing request is rejected. |
| INVOICING | Implicit status updated in OFSLL on receiving Invoice from third party auctioning system. |
| INVOICE REJECTED | Implicit status updated in OFSLL if the Invoice received from third party auctioning system is rejected. |
| COMPLETED | Implicit status updated in OFSLL to indicate as remarketing complete. |