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This API is used to trigger invoke on user’s lien marked assets.

Invocation

Conditions: Lenders can invoke the pledge under certain conditions, such as:

  1. Margin Call: If the value of the mutual funds falls below a certain threshold, triggering a need for additional collateral or repayment.
  2. Invocation Limit Breach: If the user breaches agreed-upon limits related to the loan.
  3. Payments Not Done (90 DPD): If the user fails to make payments for 90 days past due (DPD), the lender can invoke the pledged assets to recover the outstanding amount.

Process

The lender initiates the invocation process through the API, ensuring that the pledged assets are liquidated or otherwise utilized to cover the loan.

Input: Conditions for invoking and asset related details.
Output: Confirmation of invocation

Input Type

InputTypeDescription
finsire_idstringA valid id generated during user creation
order_idnumberA valid order number that can be fetched from ordering assets API response
loan_disbursedbooleanThis indicates whether the loan was disbursed. It acts as a confirmation from stakeholders to know if the loan was disbursed
invoke_reasonstringThis indicates the reason for invoke. It is an enum and accepts two options: DPD BREACED and INVOKE VALUE BREACHED
user_notification_statusbooleanThis indicates whether the user has been notified of the invoke and has given confirmation for the invoke to happen

Common error scenarios

The following are the common error scenarios in sending an API request:

ErrorDescription
param is missing or the value is empty: finsire_idfinsire_id is a required field
param is missing or the value is empty: emailemail is a required field
param is missing or the value is empty: otpotp is a required field
param is missing or the value is empty: order_idorder_id is a required field
param is missing or the value is empty: lienrefnolienrefno is a required field
param is missing or the value is empty: assetsassets is a required field

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You can try out this API here.