Credit arrangement states

Set the initial state of a credit arrangement

Credit arrangements can be set up to transition between the Pending Approval and Approved states.

To set the initial state of a credit arrangement:

On the main menu, go to Administration > General Setup > Internal Controls.

Select the New Credit Arrangement Initial State to be either Pending Approval or Approved.

Select Save Changes.

If you set the configuration above to Pending Approval, then all credit arrangements will be created with this state and will require user approval.

You must have the Approve Credit Arrangements permission enabled in order to approve a credit arrangement.

Pending approval

These are the actions possible on credit arrangements in the Pending Approval state, and their corresponding permissions:

Action	Required Permission
Undo approval	Undo Approval Credit Arrangement
Close (withdraw)	Withdraw Credit Arrangements
Undo withdraw	Undo Withdraw Credit Arrangements
Close (reject)	Reject Credit Arrangements
Undo reject	Undo Reject Credit Arrangements

Action

Required Permission

Undo approval

Undo Approval Credit Arrangement

Close (withdraw)

Withdraw Credit Arrangements

Undo withdraw

Undo Withdraw Credit Arrangements

Close (reject)

Reject Credit Arrangements

Undo reject

Undo Reject Credit Arrangements

Please Note

A credit arrangement must first be approved before you can add accounts to it. You can't add accounts to a credit arrangements that is in the Pending Approval state.

Activities will be captured on the account every time a credit arrangement transitions between states.

Rejecting or withdrawing a credit arrangement is only possible from the Pending Approval state.

Approved

A credit arrangment in the Approved state is considered an active credit arragnement. Active credit arrangements can no longer be withdrawn or rejected. It is also not possible to edit the terms of credit arrangements in the Closed (Withdrawn) or Closed (Rejected) states.

Please be Aware

Once accounts have been added to a credit arrangement, the credit arrangment can no longer be deleted.

Set the initial state of a credit arrangement

Pending approval

Approved

What's Next