Who invokes?
The lender invokes. When a borrower defaults on a loan by failing to pay the EMIs or violating the loan agreement's terms, the lender has the right to invoke their claim on the collateral. This is typically executed through a formal process that may involve legal proceedings, depending on the nature of the default and the type of collateral.
More details related to Invoke API can be found below:
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What is the process of lien marking?
The process of lien marking on mutual funds, shares, or bonds as collateral for securing a loan involves several key players, including the borrower, the lender (typically a bank or financial institution), and the Registrar and Transfer Agent (RTA) ...What is lien marking?
Lien marking refers to the process where a claim or a legal right is placed on an asset to secure a loan or obligation. Lien marking serves as a security measure for lenders while allowing borrowers to leverage their investments without liquidating ...What is invoke and revoke?
"Invoke" and "Revoke" are terms related to the control and status of an asset that is used as collateral in a lending process: Invoke To "invoke" in the context of lending means that the lender is exercising their legal right to take control of the ...Who executes the revoke call?
The lender or an authorized representative of the lender executes the revoke call. Depending on the asset's nature and the loan agreement terms, this might be facilitated by an intermediary such as a custodian or a legal entity. Process of revocation ...Can a user invoke any time?
No, a user (borrower) cannot invoke. Invoking is the lender's prerogative and is based on the terms of the contract or loan agreement.