In lending agreements, collateral is a borrower's pledge of specific property to a lender, + to secure repayment of a loan. The collateral serves as protection for a lender against a + borrower's default - that is, any borrower failing to pay the principal and interest under + the terms of a loan obligation. If a borrower does default on a loan (due to insolvency + or other event), that borrower forfeits (gives up) the property pledged as collateral + - and the lender then becomes the owner of the collateral +
+Field Descriptions |
+
| type | +
| Identifies the type of a collateral + Ex: Gold, property etc (permitted types can be configured using + Code Values for + the Code LoanCollateral) + Refer Retrieve + Collateral Details Template for complete + details + |
+
| value | +
| The market value of a Collateral. + | +
| description | +
| Description for the collateral + | +
| currency | +
| Details of the currency used + to estimate the value of a Collateral. + The currency defaults to the currency of the + Loan for which this Collateral serves as a + guarantee + | +
Example Requests:
+
+GET https://DomainName/api/v1/loans/{loanId}/collaterals
+
+
+[
+ {
+ "id": 12,
+ "type": {
+ "id": 8,
+ "name": "Gold"
+ },
+ "value": 50000,
+ "description": "24 Carat Gold chain weighing 12 grams",
+ "currency": {
+ "code": "USD",
+ "name": "US Dollar",
+ "decimalPlaces": 2,
+ "displaySymbol": "$",
+ "nameCode": "currency.USD",
+ "displayLabel": "US Dollar ($)"
+ }
+ }
+]
+
+ This is a convenience resource. It can be useful when + building maintenance user interface screens for client + applications. The template data returned consists of any or all + of: +
Example Request:
+
+GET https://DomainName/api/v1/loans/{loanId}/collaterals/template
+
+
+{
+ "allowedCollateralTypes": [
+ {
+ "id": 9,
+ "name": "Silver",
+ "position": 0
+ },
+ {
+ "id": 8,
+ "name": "Gold",
+ "position": 0
+ },
+ {
+ "id": 10,
+ "name": "Property",
+ "position": 0
+ }
+ ]
+}
+
+ Example Requests:
+
+GET https://DomainName/api/v1/loans/{loanId}/collaterals/{guarantorId}
+
+
+{
+ "id": 12,
+ "type": {
+ "id": 8,
+ "name": "Gold"
+ },
+ "value": 50000,
+ "description": "24 Carat Gold chain weighing 12 grams",
+ "currency": {
+ "code": "USD",
+ "name": "US Dollar",
+ "decimalPlaces": 2,
+ "displaySymbol": "$",
+ "nameCode": "currency.USD",
+ "displayLabel": "US Dollar ($)"
+ }
+}
+
+ Note: Currently, Collaterals may be added only before a Loan
+ is approved
+
Mandatory Fields
+ for "internal" collaterals |
+
| collateralTypeId | +
+POST https://DomainName/api/v1//loans/{loanId}/collaterals
+
+
+POST /loans/1/collaterals
+Content-Type: application/json
+Request Body:
+{
+ collateralTypeId:9,
+}
+
+
+{
+ "loanId": 1,
+ "resourceId": 12
+}
+
+
+POST /loans/1/collaterals
+Content-Type: application/json
+Request Body:
+{
+ "collateralTypeId":"8",
+ "value": "50000",
+ "dateFormat":"dd MMMM yyyy",
+ "locale": "en",
+ "description": "24 Carat Gold chain weighing 12 grams"
+}
+
+
+{
+ "loanId": 1,
+ "resourceId": 13
+}
+
+
+PUT https://DomainName/api/v1/loans/{loanId}/collaterals/{collateralId}
+
+
+PUT loans/1/collaterals/12
+Content-Type: application/json
+Request Body:
+{
+"description": "22 Carat Gold chain weighing 12 grams"
+}
+
+
+{
+ "loanId": 1,
+ "resourceId": 12,
+ "changes": {
+ "description": "22 Carat Gold chain weighing 12 grams"
+ }
+}
+
+ + Note: A collateral can only be removed from Loans that are not yet approved. +
+
+DELETE https://DomainName/api/v1/loans/{loanId}/collaterals/{collateralId}
+
+
+DELETE loans/1/collaterals/13
+Content-Type: application/json
+No Request Body:
+
+
+{
+ "loanId": 1,
+ "resourceId": 13
+}
+
+