Assurant Contract Handling
When integrating
with Assurant, the ASPIRE Contract Type is included in the Export CDT file. Loans are indicated by a VF code, a Lease is indicated by a VL.
You can set up an EFA (Equipment Finance Agreement) product which can be identified
as a Lease or a Loan in the Finance Product configuration. (Administration menu - Pricing screen - Finance Product tab).
For example, a Finance Company may set up an EFA as Lease in ASPIRE, but the Insurance needs to be tracked as a Loan in Assurant.
The exported CDT file will show the code of VL for Lease, when it should be VF for loan.
Instead of changing the configuration of an Invoice Code, Contract ID,
or any other field that gets sent through the CDT, we can use the Assurant
Contract Handling field on the Finance Product tab.
This setup shows the EFA product as a Lease in ASPIRE, but this will tell Assurant (using code VF) that this deal should be treated as a loan in the CDT file for Insurance Purposes.
This field is only enabled when licensed for Assurant.
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