When offering facilities to the customer, banks or financial institutions usually require some form of guarantee that the respective facility amount will be paid back within the agreed period of time including the profit that comes with it.

Collateral can be in any form of tangible items such as, land, house, vehicle, fixed deposits and quoted stocks and shares depending on the policy of the respective bank or financial institution and the requirement to match up the amount agreeable by both parties for the respective facility. Since the value of respective collateral may be increased or decreased over time, revaluation will also take place from time to time.

Therefore, this function will become useful for user to maintain details of the respective collateral as follows:-