LeaseWave
The remit code in Leasewave for PNC.
What is code 099?
This document is used to verify ACH Bank account details.
What is Automatic Payment Authorization?
Originations QC SLA
What is 5 hours?
AMG approval is required on a straight activation when it is at or over this dollar threshold.
What is $1,250,000.00?
A lease on a qualified automobiles, trucks, or trailers, which may be considered a true lease.
What is a Terminal Rental Adjustment Clause (TRAC) lease?
In the interest rate section, these fields must match for a progress draw first funding.
What is effective date and first reset date?
Bonus points: what is effective day of the month?
The tool used to determine the correct asset type if AMG approval is not available.
What is EF Operations Tool?
Post Close End to End SLA goal
What is 4 hours?
These type of leases are a CSA or a PUT.
What are finance leases?
A legal document issued by the manufacturer that certifies the origin of a new vehicle.
What is Manufacturing Statement of Origin (MSO)?
This should be requested if the Vendor Party Entity is new, a non PNC account, and not established in LeaseWave.
What is the borrower W9 and wire instructions?
This must be verified in the ACH details section for each receivable type.
What is account number is correct and active?
Deliver documents ____% of the time within 5 business days
What is 92%?
This should be prepared if an error or discrepancy (which is considered insignificant, e.g., pennies/minute part of a percent off) is found regarding rate or payment amount that is in the Client’s favor or if extending maturity date with no additional fundings.
What is a One-Way notice?
A party entitled to receive proceeds from an insurance settlement arising in connection with a covered causality or loss.
What is loss payee?
This action must be completed after commencement to update all pending ACH items with an account number.
What is generate ACH schedule?
The correct "documented fallback rate language" for standard SOFR transactions.
What is SOFR STD 2021 (notice)?
The main errors found by the SOX team.
What is classification/accounting types and asset types?
These must match exactly between direction provided from vendor, LeaseWave record, and prepared Pay Proceeds.
What is the payee name and wire instructions?
A lease document that allows a lessee to obtain additional leased equipment under the same basic lease terms and conditions originally agreed to.
What is a Master Lease?
The day count convention on a float rate deal.
What is Actual 360?
A counsel memo is required in these four situations.
What is all non-standard documents, EF Exposure is greater than $5.0M, the risk rating is 11 or higher, or it includes covenants?
Our KRI is breach at this percent.
99.5%
The song Jon Watt sang at the Rock n Roll Hall of Fame.
What is Sweet Child of Mine?
The discount rate that equates the present value of the minimum lease payments and any unguaranteed residual to the fair value of the leased property, minus any investment tax credit retained by the lessor.
What is Implicit Interest Rate?