Pay vendor invoices only for accepted contract scope

Match each vendor invoice line to signed scope, approved change orders and milestone acceptance evidence. Procurement Operations can separate disputed amounts so Finance pays only the agreed payable and holds the balance until it is resolved.

What this SOP does

Before paying a vendor, the bank compares signed scope, delivery acceptance, change orders and invoice lines. The technical owner certifies performance, Finance clears only the agreed payable, and disputed amounts or service credits are kept separate.

People in the process

PProcurement OperationsProcess Owner
TTechnologyParticipating Team
FFinanceParticipating Team

The process is a starting point. The standards are yours.

Configure for the bank or lender’s category, permissions and applicable RBI directions. Outsourcing, customer conduct, recovery and reporting controls use the institution’s approved interpretation and delegated authority.

Keep the work connected.

Legal Recoveries

Choose SARFAESI, DRT or IBC from one enforcement file

When a loan defaults, bring the loan history, executed documents, security, certified statement of account, valuations and disputes into one account file. Legal Recoveries can confirm enforceability and limitation, and the recovery committee can choose the route before any notice issues.

CCRR

Legal Disputes

Defend borrower lawsuits from one approved fact record

When a borrower sues or escalates, reconcile signed terms, account statements, complaint history, notices and staff accounts into one approved fact record. Legal Disputes can track every filing deadline and counsel can plead consistent positions across consumer, civil and DRT forums.

OCE

Recoveries

Release security only after the settlement is fully paid

Track each one-time settlement instalment against the sanctioned amount, schedule and conditions before closing the loan account. Recoveries can withdraw pending cases, release security, return original documents and issue the no-dues certificate only once every term is met.

FLC

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