A.2.38 Collateral Maintenance
You can update and maintain asset/collateral details associated to an Account during Servicing and Collection stage by posting ASSET MAINTENANCE non-monetary transaction in Customer Service > Maintenance > Transaction Batch Information section.
On posting the transaction, the asset details are updated in Customer Service > Collateral > Home/Vehicle/Others tab and Servicing > Collateral Management > Collateral Details screen.
Table A-140 To post Asset Maintenance to an account
| Transaction | Parameters |
|---|---|
| ASSET MAINTENANCE | TXN DATE |
| ASSET NUMBER | |
| ASSET CLASS | |
| ASSET TYPE | |
| ASSET SUB TYPE | |
| REGISTRATION NUMBER | |
| MAKE | |
| MODEL | |
| ESTIMATED LIFE | |
| COUNTRY CODE | |
| ZIP | |
| STATE CODE | |
| ADDRESS NUMBER | |
| ADDRESS1 | |
| ADDRESS2 | |
| REASON CODE | |
| COMMENTS | |
| ASSET EXCHANGE INDICATOR | |
| ASSET SHIPMENT DATE | |
| ASSET BLOCK INDICATOR | |
| ASSET IDENTIFICATION NUMBER |
While posting the transaction, ensure the following:
- The Txn Date and Asset Number are mandatory and need to be specified.
- The transaction date should be current system date by default since system does not allow to post back dated or future dated transaction.
- Specify the registered Asset number. Else, system displays an error indicating Asset #:<Asset nbr> does not exist for this account.
- Specify the Asset Class as per HOME/VEHICLE/OTHER_ASSET_CLASS_CD look-up type.
- The Asset Type and Asset Sub Type should match the Collateral Type of Asset # as defined in Setup > Asset Types > Asset Sub Type screen.
- The Registration number provided for Asset # should be of Collateral Type as HOME.
- The Zip code entered is validated based on Country code defined in Setup > Zip Codes screen.
- In ASSET EXCHANGE INDICATOR, select Yes or No from drop-down list to indicate if the asset is created as exchange to an old asset. This is applicable only for Vehicle and Home collateral.
- In ASSET SHIPMENT DATE, select the date from adjoining calendar.
- In ASSET BLOCK INDICATOR, select Yes or No from drop-down list to indicate if this asset is blocked to a particular account. This is applicable only for Vehicle and Home collateral.
- In ASSET IDENTIFICATION NUMBER, specify the asset identification number.
On successfully posting the transaction, a confirmation message is displayed in the Results section and collateral details are updated to the account.
Parent topic: Nonmonetary Transactions