Once the loan order has been validated by the lender, the borrower can consolidate manually the corresponding principal amount in Fairways Debt. This consolidation can either be performed for the total amount of the loan order or only a part of this amount.
Important: Consolidations can only be entered manually if no immediate consolidation was enabled during the creation of the loan order.
Prerequisites
- Contact your Finance Active consultant to:
- Enable the Purchase Order transaction type
- Associate your user with the relevant role to be able to create loan orders
Navigate to the Debt & Derivatives Application
- Log in to your Fairways Debt account.
- Select a customer account.
- Navigate to Applications
> Debt & Derivatives.
Consolidate a Loan Order
- Open an actual purchase order.
- Navigate to Loan Orders.
- Open a loan order in "Actual" stage.
Note: You can only consolidate loan orders located in the actual portfolio.
- Navigate to Consolidations.
- Click Consolidate.
- Complete the form with all relevant details.
Notes:
- Fields marked with an asterisk * are mandatory.
- Some fields are pre-filled using the loan order details.
| Field | Description |
|---|---|
| Consolidation amount |
Consolidation amount of the loan order. This amount is expressed in the reference currency defined at the purchase order level. Note: The consolidation amount cannot be greater than the amount of the loan order. |
| Consolidation Date |
Date of the consolidation. Note: The consolidation date must be equal to or later than the start date of the loan order. |
- Click Apply.
The consolidation displays in the list.
The consolidation also impacts the key indicators of the related purchase order.
Note: If the notification "Loan Order Consolidation" is set in your user settings, you will be notified each time you consolidate a loan order.