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Disburse loan contract

Use case

Here, we will review how to make a manual loan contract disbursement.

Use case data

API parameters with values

An existing loan contract with the ID-1664282474 headerID.

...contracts/ID-1664282474/initialise-disbursement

The loan payout 5000 GBP

will be sent to the account that belongs to the borrower Trevor Harry Tuum.

Sample API call

To make a manual loan disbursement, make the following API call.

Sample request

Below is an example request body of the API call for making a manual disbursement.

{
  "paymentInstruction": {
    "beneficiaryName": "Trevor Harry Tuum",
    "beneficiaryIban": "XX54XXXX99999000000000000001257",
    "money": {
      "amount": "5000",
      "currencyCode": "GBP"
    }
  }
}

curl -L 'https://loan-api.sandbox.tuumplatform.com/api/v1/contracts/ID-1664282474/initialise-disbursement' \
-H 'x-channel-code: SYSTEM' \
-H 'x-auth-token: eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJleHBpcnlEVGltZSI6IjIwMjMtMDctMDVUMjA6MDM6MTYiLCJyb2xlcyI6WyJBRE1JTiJdLCJuYW1lIjoiSm9obiBPZmZpY2VyIiwiZW1wbG95ZWVJZCI6IjEiLCJ0ZW5hbnRDb2RlIjoiTUIiLCJleHAiOjE2ODg1ODczOTZ9.8vhYc2X-4bIUTY7AQQHEN4lR55EhHqzLjiakhWJ1je8' \
-H 'Content-Type: application/json' \
-d '{
  "paymentInstruction": {
    "beneficiaryName": "Trevor Harry Tuum",
    "beneficiaryIban": "XX54XXXX99999000000000000001257",
    "money": {
      "amount": "5000",
      "currencyCode": "GBP"
    }
  }
}'

Sample response

Below you find an example response body to the API call above.

Response

{
    "errors": null,
    "validationErrors": null,
    "data": {
        "paymentInstructionId": "ID-1664282486",
        "personId": null,
        "beneficiaryName": "Trevor Harry Tuum",
        "beneficiaryIban": "XX54XXXX99999000000000000001257",
        "beneficiaryAccountNumber": null,
        "beneficiaryAccountNumberCountryCode": "XX",
        "beneficiaryBankCode": null,
        "beneficiaryAccountId": null,
        "counterpartyBic": null,
        "money": {
            "amount": 5000.00,
            "currencyCode": "GBP"
        },
        "details": null,
        "referenceNumber": null,
        "processed": false,
        "source": {
            "sourceName": "LOAN.CONTRACT_VERSION",
            "sourceRef": "ID-1664282484",
            "sourceLink": null
        },
        "contractSource": {
            "sourceName": "LOAN.CONTRACT_HEADER",
            "sourceRef": "ID-1664282474",
            "sourceLink": null,
            "contractNumber": "BL1000"
        },
        "contractVersionNumber": "1",
        "statusCode": "SENT",
        "errorCode": null,
        "paymentChannelCode": "TRUSTLY",
        "onDemand": true,
        "scheduleRegenerationRule": null,
        "actionHistories": [
            {
                "actionHistoryId": null,
                "employeeId": "1",
                "sourceField": "STATUS_CODE",
                "oldValue": "INSERTED",
                "newValue": "SENT",
                "actionTypeCode": "DISBURSEMENT",
                "comment": "DISBURSEMENT",
                "reasonCode": null,
                "insertedDTime": "2023-07-05T19:05:56",
                "insertedBy": "John Officer",
                "source": {
                    "sourceName": "LOAN.PAYMENT_INSTRUCTION",
                    "sourceRef": "ID-1664282486",
                    "sourceLink": null
                }
            }
        ]
    }
}

Result

The payment instructions ID-1664282486 were created. The loan will be disbursed to the borrower's bank account.