Collaterals

Collateral is a security for the client's obligations to the organization, which can be used to reduce risks when issuing a loan or credit. Collateral represents property or other assets that the pledgor (client) provides as a guarantee for the fulfillment of obligations.

Main characteristics of collateral:

• Name: Unique name of the collateral.
• Collateral type: Selected from the "Collateral types" directory, which can be customized to meet the organization's needs.
• Appraised value: The value of the collateral determined by an independent appraiser or according to market data.
• Collateral value: The actual value of the collateral that can be used to cover obligations.
• Pledgor: The client providing the collateral (data is taken from the "Clients" directory).
• Collateral properties: Additional characteristics that can be configured for each collateral type.

Important:

• To create a new collateral, you must fill in the required fields, such as name, collateral type, appraised and collateral values.
• Collateral types and their properties are configured through the Admin → Directories → Collateral types menu.

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Note: Collaterals play a key role in ensuring the financial security of the organization, allowing to minimize the risks of non-repayment of funds.