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Contacts Creditor to apply. Evaluation complete. Able to complete?. Determination of Initial Credit Limit - Process Flow. Key: Solid Lines = Normal Process Dashed Lines = Exceptions. Fills out Credit Application Form & supporting documents. Submits Credit Application Form

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Presentation Transcript
slide1

Contacts Creditor

to apply

Evaluation

complete

Able to

complete?

Determination of Initial Credit Limit - Process Flow

Key:

Solid Lines = Normal Process

Dashed Lines = Exceptions

Fills out Credit

Application Form

& supporting

documents

Submits Credit

Application Form

to Creditor

Applicant

Provide

requested

information

Receives written

results

(Applicant or

Guarantor)

gathers needed

financial

information

Prepare and send written

report of initial credit

limit determination

via overnight/fax/e-mail

(within 5 Business Days)

(2.3.3.13)

Request needed

clarification

Receives Credit

Application Form

from Applicant

(clock starts/

restarts)

(2.3.3.5)

(delays would add time to clock)

No

Sends Credit

Application Form

to Applicant

Initial credit limit

determination completed

Yes

Creditor

Checks Credit

Application Form

for completeness

Perform initial

credit limit

determination

(within 10 Business Days)

(2.3.3.12)

Note: Individual Model Business

Practice numbers cited

only when they specify time

frames

Sends request for

missing data/

documents

via overnight/

fax/e-mail

Yes

No

Complete?

(clock stops)

If Credit Application Form is not complete, Creditor must notify the

Applicant of missing items within 5 Business Days (2.3.3.6)

slide2

Go to

Challenge

process flow

Material

Change?

Initiate

reconsideration

12 months

since

evaluation?

Time for periodic

review or aware of

Material Change?

STOP

Reconsideration of Determination of Initial Credit Limit - Process Flow

Fills out Credit

Application Form

& supporting

documents

Submits Credit

Application Form

to Creditor

Process complete

Request

reconsideration

by Creditor

Applicant

Gathers needed

financial

information

Receives written

results

Receives notice

denying

reconsideration

Perform credit

limit

determination

Rec’d

<=30 days of

determination

?

(2.3.4.1)

Receives reconsideration request

Yes

Same Process as “Determination of Initial Credit Limit”

(See RXQ 2.4.1 Process Flow)

No

Yes

Creditor

Send Credit

Application Form

to Applicant

No

Yes

Send notice

denying

reconsideration

request

No

Yes

Note: Individual Model Business Practice

numbers cited only when they specify time frames

No

slide3

Evaluation

complete

Is

determination

acceptable?

Is Creditor

subject to ARA’s (1)

dispute resolution

process

Material

errors?

Appeal to

Applicable

Regulatory

Authority

Send written

report of results

Received

<= 30 days

?

Reconsideration of Determination of Initial Credit Limit – Challenge Process Flow

Yes

Receives and

reviews written

credit limit

determination

results

Is

determination

acceptable

?

Yes

No

Applicant

No

No

Yes

Prepare and

submit Challenge

(within 30 Days)

(2.3.4.1)

Receives notice

denying Challenge

Receives and

reviews new

written results

No

Applicant and Creditor

review initial

determination and

supporting data

Yes

  • ARA = Applicable Regulatory
  • Authority

Receives

Applicant’s

Challenge

Perform credit limit

reevaluation

(within 10 Business

Days of receipt of

corrected

information)

Prepare and send

Written report of

result

(within 5 Business

Days)

Provides rationale

for Applicant review

(within 5 Business

Days)

( 2.3.4.2)

Creditor

Maximum Duration = 15 Business Days

( 2.3.4.2)

Yes

  • Note: Individual Model
  • Business Practice numbers cited only when they specify time frames

No

Sends notice

denying Challenge

slide4

Stop

Done

Requests made

via overnight,

fax, or e-mail

Start

Stop

Shortfall

remedied within

time limit?

(R)isk vs

(S)ecurity?

Disqualification/Remedies - Process Flow

Action

taken

Receives (lower)

security

arrangement in

place

No

Ask

to reduce

security?

Request new

(lower) security

arrangement

Applicant

Yes

Reduce risk

exposure

Creditor

request

received

None

R< S

Provide add’l

security

R=S

Yes

R< S

No

Request

add’l

security?

Send request for

add’l security

Reduce risk by

stopping Enrollment Requests,

move custs to Dual Billing,

reduce product sales,

or other ARA-approved

remedy, including

disqualification (if Applicant

is Supplier)

Yes

Creditor

No

Stop

Done

Applicant

request received

Establish new

(lower) security

arrangement