Suspend disbursal for LOC and FIT loans

You can define periods during which no disbursal must be made for a line of credit contract or a loan that is funded in tranches. This puts a temporary freeze on the borrower's credit limit. The borrower would not be able to draw any further amount even though there may be an available credit line, till the temporary freeze is lifted. During the freeze period other processing remains the same; bills get generated, payment is expected and applied when received, fees get applied as usual. You can life the freeze at any point of time.

For more information on applying a block code to a contract, refer to section Applying a Contingency Code in the CL Loan User Guide.

If you are upgrading from an earlier version of CL Loan, you must add the value "Suspend Disbursal (Z)" to the Block Code picklist field of the Loan Block Code object. For steps to do this, refer to section Modify the Drop Down List.

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