Managing Credit Facility Utilisation Details

A credit facility utilization is a contract opened for banking products attached to the facility.

You can find the details of the credit facility such as facility utilisations, fee values, accruals and repayment notifications in a credit facility record's Facility Utilisations tab. There is no information here to display for records in Draft status. You can add utilisations only after the record reaches Approved status.

Here are the actions that you can perform on utilisations already added to a credit facility record:

You can view, insert or export contracts based on the banking products added to this credit facility in the Facility Utilisations section within a credit facility record's Facility Utilisations tab. These contracts are known as utilisations.

To add a utilisation, perform the steps described on the Adding Utilisations to Credit Facilities page.

The already added utilisations are displayed in a list with the following fields:

  • Customer - The name of the customer who is the owner of this utilisation.

  • Banking Product - The banking product which is the object of this credit facility utilisation.

  • Contract - The number of the contract holding this credit facility utilisation, either selected when adding the utilisation, or automatically created by Loan Management.

  • Utilisation in Facility Currency - The amount specified in the credit facility utilisation, expressed in the credit facility's currency.

  • Status - The status of the credit facility utilisation record. The possible values are:

    • Draft - The utilisation was created, but it needs further approval.
    • Approved - The utilisation was approved and its amount was disbursed in the customer's designated current account.
    • Closed - The utilisation reached its final unalterable status either by being rejected during the utilization approval process, or manually by changing the record's status.

To update a utilisation in Draft status:

  1. Double-click to open the Credit Utilisation page.

  2. Update the editable fields of the utilisation according to your needs.

  3. Click the Save and Close button.

IMPORTANT!  
Approve credit facility utilisations to instruct Loan Management to disburse the amount of the contract in the customer's account.

You can see, update or export the repayment notifications automatically issued by Loan Management for this credit facility in the Repayment Notifications section.

Each repayment notification lists the following information: number, issuance date, the customer participant to the credit facility for whom the repayment notification was issued, the amount, the currency, and the due date of the notification, as well as the amount that remains to be paid by the customer for this repayment notification.

To update a repayment notification:

  1. Double-click a record to open the Edit Repayment Notification page.

  2. View the details of the repayment notification.

  3. If needed, insert corrections by clicking the Insert button next to the Corrections section.

  4. On the newly displayed Add Contract Correction Entry page, view in the following details: repayment notification number, contract, currency, the name of the customer, the date when the correction entry is saved, and the sum of values entered for in the correction entry details section.

  5. In the Contract Correction Entry Details section, fill in the following details:

    • Repayment Notification Detail - Select the repayment notification detail to be corrected.

    • Operation Item - Select the operation item.

    • Correction Value - Enter the desired value.

  6. The correction entries must be approved in order to be processed. Change the record's status to Approved.

  7. Click the Save and Reload button after performing the desired updates.

The repayment notification is automatically marked as paid (the IsPaid checkbox in the Repayment Notification details section is selected) after the payment is processed, either by a Loan Management process or by adding a manual correction.