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B7. Insurance, security and other case evidence

Some evidence is recorded in special records rather than as a condition. The case page has Record controlled case evidence, which offers 28 record types. Each record is kept on the case and appears in a cross-case register.

The 28 record types, grouped

  • Parties and agreements (6): condition precedent; collateral or security; insurance policy; executed financing agreement; special purpose vehicle; public-private partnership structure.
  • Money schedules (7): disbursement schedule; repayment schedule; recognise repayment arrears; restructuring request; recovery event; guarantee exposure; project co-financing commitment.
  • Offtake (3): offtake agreement; offtake delivery obligation; delivery obligation status.
  • Warehouse (2): warehouse receipt pledge; controlled release of a pledged receipt.
  • Insurance claims (2): insurance claim; insurance claim decision.
  • Projects (5): infrastructure or preparation project; project-preparation deliverable; project milestone; project milestone completion; project milestone progress and cost.
  • Equity and performance (3): equity or venture-capital position; equity drawdown, distribution, valuation or exit; enterprise performance report.

Task B7.1: Record an insurance policy​

Who can do this: staff who can record case evidence.

Before you start

  • Have the policy certificate. In the walkthrough, the policy is an area-yield crop policy from NAIC covering the full ₦45 million, with the lender named as loss payee.

Steps

  1. Open the financing case and select Record controlled case evidence.
  2. Choose Insurance policy.
  3. Fill in the policy details on the form. For the walkthrough, the cover amount is ₦45,000,000 and the lender is named as loss payee.
  4. Record the policy reference. Document upload is not yet available (see B16), so keep the certificate in the bank's own filing.
  5. Submit the form.
  6. Go to the Insurance condition and select Record evidence decision, then Satisfied.

What happens next

  • The insurance condition can be satisfied.
  • The policy appears in the Insurance register.

Common problems

  • The cover is less than the financed production cost: the rules require cover up to 100% of production cost (F-I). Record the correct cover, or request an exception.

Saved records​

Executed agreements can never be changed. Other records should be treated the same way: once saved, correct them by adding a new record, not by editing the old one.