Close collateral agreement

To discard a collateral agreement you need to open it. You can open the collateral agreement via the Collaterals or Loans menu:

Collaterals menu

1. Collateral > Search agreements.

2. Find the collateral agreement in question.

3. Click the Agreement ID to open the collateral agreement.

4. Click the Close agreement button.

5. Select the Closing date and Closing reason. If required, you can add a comment > Close.

Loans menu

1. Find a loan contract in question.

2. From the content menu, choose Collateral.

3. Click the Collateral agreement ID.

4. Click the Close agreement button.

5. Select the Closing date and Closing reason. If required, you can add a comment > Close.

Person menu

1. Find a person who is related to an agreement as a suretyship or collateral asset owner.

2. Access the person details.

3. From the content menu choose Collaterals.

4. Click the Agreement number.

5. Click the Close agreement button.

6. Select the Closing date and Closing reason. If required, you can add a comment > Close.

Asset details

1. Find asset that is used as a collateral.

2. Access asset details page.

3. Scroll to the Collateral agreements section.

4. Click the Agreement number to access the collateral agreement information.

5. Click the Close agreement button.

6. Select the Closing date and Closing reason. If required, you can add a comment > Close.

Note that the Closing reason parameter is a custom lookup code. You can manage its values by going to Administration > Settings > Lookups > COLLATERAL > Collateral agreement. Choose lookup type CLOSE_REASON.

You can close the collateral agreement in the signed status only.