Hypothecation Details
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This page allows you to specify the hypothecation details of a vehicle. You can specify the hypothecator details with whom the vehicle is hypothecated. You can specify the loan amount taken on the vehicle, the down payment paid to the hypothecator. You can also record the EMI and the frequency of payment of amount. You can also specify the starting and ending date of the loan. You can transfer the loan to another hypothecator.
Select the “Hypothecation Details” hyperlink from the bottom of the page.
The “Hypothecation Details” page appears.
Note: 
Clicking this icon available near certain fields takes you to the help page of the respective field.
The system displays the following in the header.
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Vehicle No. |
A unique number identifying the vehicle for which the hypothecation details has to be specified. |
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Vehicle Type |
The type to which the vehicle belongs. |
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Status |
The status of the vehicle. |
Enter the following field details in the “Hypothecation Details” group box:
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Revision No |
Use the drop-down list box to view the revision history of the vehicle hypothecation details. |
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Hypothecation With |
Use the drop-down list box to select the bank with whom the vehicle is hypothecated. The combo is loaded with all the values defined in the “Maintain Codes” activity. The system displays the code set as default in the “Maintain Codes” activity. |
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Remarks |
Any remarks pertaining to the vehicle hypothecation. |
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Loan Amount |
The loan amount taken for the vehicle. Mandatory. |
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Down Payment |
The down payment amount paid to the hypothecator. |
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Currency |
Use the drop-down list box to select the currency. The combo is loaded with all the currencies mapped for the login company. The system displays the base currency set as default. |
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Loan From Date |
The date from which the loan (hypothecation) is applicable. This date should be less than the system date. |
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Loan To Date |
The date until which the loan (hypothecation) is applicable. This date should not be greater than or equal to the Loan From Date. |
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EMI Amount |
The equated monthly installment (EMI) amount for the vehicle. |
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EMI Frequency |
The frequency of payment of amount. Eg. Monthly. |
Click the “Save” pushbutton.
The system saves the hypothecation details.
Click the “Transfer Loan” pushbutton.
The system transfers the loan to the specified hypothecator and increments the Revision No. by 1.
Note: You cannot transfer a loan with the same Hypothecator.
Example 1: (Allowed)
Revision No – 0, Hypothecated with - Axis Bank
Revision No – 1, Hypothecated with - HDFC
Revision No – 2, Hypothecated with - Axis Bank
Example 2: (Not Allowed)
Revision No – 1, Hypothecated with - Axis Bank
Revision No – 2, Hypothecated with - HDFC
Revision No – 3, Hypothecated with – HDFC
