Manager, Settlement & Discharge

All matters pertaining to the day-to-day operations and functions customer fully settling all outstanding obligations under a loan/financing facility by paying the entire outstanding principal, together with accrued interest, late charges (if any), fees, and other applicable costs, in accordance with the facility terms.

Upon successful loan/financing settlement, the loan/financing account is settled and zerorised, meaning the outstanding balance in the loan/financing account is reduced to zero, no further liabilities remain under the facility, and the loan is deemed fully discharged.

Following zerorisation of the loan/financing account, the bank proceeds with the release and/or discharge of securities, where applicable, in accordance with regulatory, legal, and operational requirements