Manikandan Narayanan
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Articles
Recent activity by Manikandan Narayanan-
Past Due Loan
'Past due' refers to a payment that has not been made by its cutoff time at the end of its due date. A borrower who is past due will usually face some penalties and can be subject to late fees. Fai...
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Repaying a Loan
The trading loan is any financing that is provided for the purpose of conducting domestic and/or international trade between a buyer and a seller. Banks and financial institutions can be the provid...
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Amending Loan Contract
'Amending' is to make any kind of changes to the Loan contract. These changes may include increase in the Loan amount, amend the validity of the loan or to amend any loan details. The user can se...
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Creating a Loan
A 'loan' that has been granted for a certain period where the capital remains outstanding over the whole period and is intended to be paid back in full. A 'Clean Loan' can be created anytime, reg...
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Pre-Opening a Loan
An amount that is in the form of debt given out by a financial organization to another firm or an individual in exchange for the future repayment of the same amount along with interest over a perio...
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Transferring the Advanced Party
The 'Transfer Advanced party' is used to exchange the advanced party of the contract. A message will be created for the new party as well as for the old party. The message advises the transfer ...
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Repayment / Recourse under Advances
The advances are made ‘with recourse’, so that if reimbursement is not received when due from the issuing bank, repayment of the advance can be demanded from the beneficiary. If the credit was conf...
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Amending Advance contract
'Amending' is to make any kind of changes to the Advance contract. These changes may include increase in the advance amount or validity changes or transfer of risk or other changes to the terms and...
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Advancing a Document Set
'Advances' are the source of financing provided by the banks to the companies, to meet their short-term requirements. Advances are a credit facility by nature. An advance can be granted directly ...
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What is a SWIFT/BIC code?
'SWIFT' stands for the Society for Worldwide Interbank Financial Telecommunication. BIC is the International ISO standard ISO 9362. This standard specifies the elements and structure of a universal...