Create Term records to represent a repository of stipulations that underwriters can add
to loan and lease applications. A stipulation is a condition that improves the eligibility for a
loan or lease. Typical examples include adding a co-applicant, providing additional proof of
employment or income, or increasing the credit score. When an underwriter at a captive finance or
banking organization creates a proposal for an application form product, they can add multiple
terms to the proposal as stipulations.
Required Editions
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From the App Launcher, find and select Terms.
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Click New.
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Enter a name and a detailed description.
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Select a type. For example, Additional Details.
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Select a subtype, if applicable. For example, Identity Proof
Requirements.
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Select the period for which the term is effective.
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To make the term available for selection, select the Active
checkbox.
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Save your changes.
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Repeat the steps to create other stipulations.
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Create term related objects to associate these terms to your financial products.
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From the App Launcher, find and select Term Related
Objects.
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Click New.
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For Reference Object, select Product, and search for and
select a financial product. For example, Automotive Lease.
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Select the associated term record created in steps 1 to 8.
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Select the period for which the term is effective.
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Select Active.
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Save your changes.
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Repeat the steps to create term related object records for the other
stipulations.
