Article Details
Id: | 15965 |
Product: | finPOWER Connect |
Type: | NEW |
Version: | 3.01.11 |
Opened: | 02/03/2018 |
Closed: | 27/03/2019 |
Released: | 03/04/2019 |
Job: | J020340 |
Security Types; add new field "Collateral Class Description"
A new field "Class Description" has been added to Security Types. This can be used to describe the Class in more detail, for example, in NZ the class may be "Goods - Other" for Boats, so this helps expand on the basic information.
In NZ, this also overrides the description of "Goods - Other" and "All Present and After Acquired Personal Property Except" Collateral sent to the PPSR - but only if the description is at least 5 characters. For example, for Boat Security Type you could set this as "Watercraft".
WARNING: Changing this on an existing Security Type may create amendments for Financing Statements that have a Collateral Item of that type.