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Glossary of Terms - COB 20101116 V2.0.xlsx - NCR

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Glossary of Terms - COB 20101116 V2.0.xlsx - NCR Powered By Docstoc
					GLOSSARY OF TERMS - COB
Note - One COB is produced per credit agreement
Field name

Reference number
Date
Credit Provider Name
Credit Provider Logo
NCR CP Registration Number

Customer Details
Customer Name
ID Number

Juristic person registration number

Debt Counsellor Details
Name
NCR Number

Telephone number

Fax number
Email

Part A Existing Account Details - Mortgage Home Loan / Vehicle and Asset Finance / Other/ Credit linked Insuran

Account Number

Account Description (as per Credit Provider)




Linked Insurance policy description


NCA Account Type Code         (Refer to Table 1)

Debt Restructuring Account Type code     (Refer to Table 2)


Goods Description (only for Vehicle and Asset Finance)

Inception date of loan/facility
Expiry Date of loan/ facility
Original Repayment term
Date of Default
Outstanding Balance (as at date of default)

Credit Limit (for Credit Card / Current Account)
Outstanding Balance (Incl. Balloon Payment & arrears BUT Excl. Future Interest. )

Gross Monthly Instalment (Incl. Capital, Interest, Fees & Insurance)



Monthly Fees ( Excl. Insurance)

Insurance and / or Assurance Premiums (Only)

Interest Rate


Method of Payment (Debt Order /EFT/Cash)


Included / Excluded from Debt Review

Reason Code if Excl.

Part B Payment Instructions


Bank Name
Bank Account number
Bank branch code

Account name


Reference number (payment identification)

Credit provider details
Credit Provider Name
For Attention

Tel No

Email address

Fax number
Page 1 of NN


Table 1 - NCA Account Type & Description
NCR Account Type Description

Micro lender

Bank - Credit Card

Bank Bond (Mortgage /Home loan)

Bank- Overdraft

Bank-Vehicle

Bank- Loan

Retailer- Furniture

Retailer-Clothing

Retailer-Other

Legal Firm/ Collections

Other


Table 2 - Debt Restructuring Account Type Code & Description
Type of Debt

Secured - Mortgage
Secured – pvt vehicle
Secured – commercial vehicle
Unsecured – Term loan

Unsecured - Facility

Credit Life Insurance


Credit Insurance


Pension-backed lending
           Definition
           This is the reference number of the COB created by the CP, it is a
           unique reference number.
           This is the date when the CP generated the COB
           This is the full name of the Credit Provider who is completing the COB
           This is the logo of the Credit Provider who is completing the COB
           This is the registration number of the Credit provider at the NCR


           This is the full name of the Customer
           This is the identity number of the customer
           This is the company registration number or the trust registration
           number, or cc number


           This is the full name of the Debt Counsellor
           This is the registration number of the DC at the NCR
           This is the telephone number of the DC, preceded by the area code of
           the telephone number
           This is the fax number of the DC, preceded by the area code of the
           telephone number
           This is the email address of the DC

Asset Finance / Other/ Credit linked Insurance
           This is the account number for the credit agreement at the Credit
           Provider
           This is the account description, as per the credit provider's product
           description held on their systems, e.g. Revolving Mortgage Account
           Credit insurance as defined in terms of the Act. These are insurances
           that must be included in the payment plan. This is the description of
           the policy that forms part of the credit agreement, e.g. in the case of
           mortgage, fire and life insurance, credit life insurance and vehicle &
           asset finance linked assurance is normally held.
           As defined in terms of S(106) of the Act. This is the Account Type code
           as specified per the NCA. Please refer to Table 1 below for a full
           description
           This is the Account Type code as specified per the Debt Restructuring
           Rules engine, Please refer to Table 2 below for a full description

           This if the goods description of the asset - for vehicle asset and finance
           only - it specifies the make, model and description of the asset.
           This is the date that the term loan was disbursed / paid out. For
           facilities this is the date that the facility was granted.
           This is the expected date that the term loan will end.
This is the repayment term of the credit agreement, as per the original
agreement, that “original term” should mean the term as per the
original agreement excluding any extensions .
THIS WILL NOT BE POPULATED BY THE BANKS.
THIS WILL NOT BE POPULATED BY THE BANKS
This is the prevailing credit limit on the facility, in the case of a current
account / credit card
This is the settlement amount.
This is the gross monthly instalment due on the credit agreement, it
includes the capital, interest, fees and insurance amounts.

This is the monthly instalment due, but it excludes insurance amounts.
If there is an annual service fee, this must be converted into a monthly
service fee and must be added into the total monthly fees.
This is the monthly instalment for the insurance and/or assurance
premiums. If debited annually then this must included as part of
This is the contractual interest rate that is applicable to the credit
monthly fee
agreement at the date of COB
This is the method of payment used by the customer to pay the
monthly instalment on this credit agreement. It can be via a debit
order/ Electronic Funds transfer (EFT) or in cash
This is to specify whether or not the credit agreement is include or
excluded from debt review, e.g. if summons has been issued it will be
excluded.
In the case of a credit agreement being excluded from Debt Review - it
is not eligible for Debt review as per Section 86 (2)


This is the name of the bank, in the case of the CP being a bank, specify
the CP name, else if the CP is not a bank, then the name of the bank
must be specified here.
This is the account number to be used to make the payment
This is the branch number where the account is held
This is the full name of the account that will be used to make the
payment into.
This is the reference number that must be used when making the debt
restriping repayment. This is the reference number that will be used to
track the payment in the case of a suspense account.


This is the name of the Credit provider
This is the department name that deals with the debt restructuring
portfolio
This is the telephone number of the Credit provider, preceded by the
area code
This is the email address for the debt restructuring department at the
Credit provider
This is the fax number of the Credit provider, preceded by the area
code
The NN indicates the total number of COB's being submitted by the
CP, to ensure that the DC can make sure that all COB's have been
received


NCR Account Type Code

ML

BC

BB

BO

BV

BL

RF

RC

RO

L

O




Account Code

SM
SPV
SCV
UT

UF

CLI



CI
PBL
Comments (Included in this category)
Please refer to section NCA for the definition of these
account types
Please refer to section NCA for the definition of these
account types
Please refer to section NCA for the definition of these
account types
Please refer to section NCA for the definition of these
account types
Please refer to section NCA for the definition of these
account types
Please refer to section NCA for the definition of these
account types
Please refer to section NCA for the definition of these
account types
Please refer to section NCA for the definition of these
account types
Please refer to section NCA for the definition of these
account types
Please refer to section NCA for the definition of these
account types
Please refer to section NCA for the definition of these
account types




Comments (Included in this category)

Mortgages (including access bonds)
Private vehicles
Commercial vehicles, taxis
Short term loan, personal loan, incidental credit agreement
with a defined term
Facility, overdraft, credit card, incidental credit agreement
with no defined term.
Insurance that a consumer must maintain during the term
of their credit agreement for Mortgages and VAF (Refer to
section 106 of the NCA)
insurance cover against damage or loss of any property
other than Mortgage and VAF (Refer to section 106 of NCA)

This is a loan that is secured with a pension

				
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