Glossary

This glossary provides definitions of terms and concepts frequently used in the Link platform. It is designed to help users better understand and navigate the system.

Asset Details

Information about the asset being financed or leased, such as type, category, sub-category, and cost.

Broker

A user responsible for creating and managing proposals and quotations for clients.

Clone Proposal

A feature that allows users to create a duplicate of an existing proposal to save time when preparing similar proposals.

Credit Documents

Pre-configured documents required to complete a proposal, such as financial reports, approvals, and legal certificates.

Customer Name

The name of the client associated with a proposal or quotation.

Dealer Proposal

Proposals created by dealers and submitted for broker review.

Diary

A log that records all changes and activities performed on a proposal or quotation, ensuring transparency and traceability.

Draft Proposals

Proposals that are still in progress and have not yet been submitted for approval.

Ellipsis Menu

A menu accessible via three dots ("...") in each row of a table, offering additional actions such as view/edit, clone, and download.

Finance Amount

The total amount of financing requested or approved in a proposal or quotation.

Finance Type

The type of financial arrangement, such as hire purchase, finance lease, loan, sales & lease back, or operating lease.

Last Updated Date

The most recent date on which a proposal or quotation was modified.

Manually Change Status

An option allowing users to manually update the status of a proposal or quotation.

Proposal

A formalized financial offer submitted for client approval, including detailed financial calculations and supporting documents.

Proposal Name

The title assigned to a proposal to help identify it.

Quotation

An initial financial estimate prepared for a client based on their requirements.

Quotations Tab

A section within the Workqueue where all generated quotations are listed for review and management.

Searchable Table

Tables with search bars at the top of each column, enabling users to filter and locate records based on specific criteria.

State

The current status of a proposal or quotation, such as draft, submitted, or approved.

Track Proposals

A tab within the Workqueue that displays all proposals, allowing users to monitor their progress and manage statuses.

Workqueue

A centralized area in Link that organizes proposals and quotations into tabs for easy tracking and management.

View Proposal Summary

An option to view a condensed overview of a proposal, summarizing key details and current status.

Upload Documents

A feature that allows users to upload pre-configured required documents for a proposal.

Withdraw Proposal

An action to cancel or remove a proposal from active consideration.

This glossary aims to provide clarity on terms and features used throughout the Link platform, enhancing user understanding and navigation.

Asset Category

A classification system used to define the nature of an asset, typically categorized as Hard Asset (e.g., vehicles, equipment) or Soft Asset (e.g., software, intellectual property). Asset categories influence the asset types and subtypes available for selection in proposals and quotations.

Asset Condition

Refers to the state of the asset, whether it is New or Used, especially relevant when dealing with physical assets such as vehicles or equipment.

Asset Type

A specific categorization of an asset within the chosen Asset Category. For example, under the Hard Asset category, asset types could be Vehicle or Equipment.

Asset Sub-Type

A more detailed classification under Asset Type, specifying the exact nature of the asset. For example, under the Vehicle asset type, subtypes could include Commercial Vehicle, Electric Vehicle, or Classic Vehicle.

Client Type

Defines the type of client, such as Limited Company, Individual, Partnership, Sole Trader, Government Organization, or Non-Profit Organization. This categorization influences the client’s details and eligibility for various financial products.

Credit Documents

Essential documents required for the credit evaluation process. These documents may include Financial Reports, Director's Approval, Company Registration Certificate and Business Proposals. Documents are classified based on their importance as Mandatory or Optional.

Dealer

Refers to the business entity involved in facilitating the sale or lease of an asset to the client. Dealers are integral in the process of generating quotations and proposals in the broker portal.

Diary

A feature used to log and view the history of changes made to a proposal or quotation. The diary helps users track updates, approvals and amendments over time.

Ellipsis Menu

A three-dot icon that, when clicked, reveals additional actions related to a particular item in a table or form. Actions can include View, Edit, Delete, or Download options.

Financed Amount

The total sum of money being financed or lent to the client. It includes the principal amount and may also cover additional costs like interest, fees and taxes.

Finance Type

Determines the regulatory nature of the loan or lease, typically classified as Regulated or Unregulated finance. The finance type influences the applicable legal and compliance requirements.

Hire Purchase

A financial product where the client leases an asset for a period of time, with the option to purchase it at the end of the lease by making a final payment.

Quotation

A financial estimate provided to the client, outlining the terms of a potential loan or lease, including payment amounts, rates and fees. Quotations serve as the initial offer, subject to approval and adjustment before becoming a formal proposal.

Proposal

A formal offer based on a previously generated quotation, including all finalized financial details and legal terms. Proposals are submitted for approval and represent the next step toward executing a financial agreement.

Quotation Name

A unique identifier assigned to each quotation. It helps users track, locate and manage different quotations created for clients.

Product Type

Refers to the type of financial product offered to the client, such as Hire Purchase, Finance Lease, or Loan. The product type dictates the repayment structure, ownership terms and other financial conditions.

SIC Code

The Standard Industrial Classification code used to define the nature of a business's activities. This information is often required during the proposal process to assess risk and compliance.

State

Refers to the current status of a proposal or quotation in the system. Possible states include Draft, Submitted, Approved, Conditioned, Declined and Paid Out, among others.

Supplier

The entity providing the asset being financed. Suppliers play a crucial role in the asset and financial details of the quotation and proposal.

Total Cost

The complete financial sum of the asset(s) included in a proposal, calculated by adding up the cost of individual assets. This value impacts the overall financing and payment terms in the proposal or quotation.

VAT Treatment

Refers to how Value Added Tax (VAT) is handled in the quotation or proposal. VAT can be classified as either Upfront or Deferred, depending on the agreement between the client and lender.