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Understanding the Collateral Loan Lifecycle

A pawn deal (Pfandvertrag) represents a secured loan agreement between Cashy and a customer, where personal property is pledged as collateral.

In Cashy-Hub, every deal transitions through authoritative lifecycle states governed by the Central Cashy System. Cashy-Hub provides store operators with the intuitive counter interface to execute appraisals, verify customers, disburse funds, assign vault bins, and settle contracts, while synchronizing every state transition with the central contract registry in real time.

Lifecycle State Machine

The following state transition diagram illustrates how a deal moves through the platform and the central Cashy system:

stateDiagram-v2
    [*] --> DRAFT: Desk Agent Opens Wizard
    DRAFT --> BOOKED: Submit Basic Info & Valuation

    state BOOKED {
        [*] --> Researching
        Researching --> Valued: Automated / Manual Pricing
        Valued --> Verified: KYC & Condition Checks Verified
        Verified --> PaidOut: Fund Disbursement (Cash/SEPA/PayPal)
    }

    PaidOut --> PAYED_AND_STORED: Vault Bin Slot Assigned

    state PAYED_AND_STORED {
        [*] --> ActiveCollateral
        ActiveCollateral --> Overdue: Due Date Exceeded
    }

    PAYED_AND_STORED --> EXTENDED: Deal Extension Modal (Accrued Fees Paid)
    EXTENDED --> PAYED_AND_STORED: New Due Date Set

    PAYED_AND_STORED --> PAYBACK_CONFIRMED: Deal Payback Modal (Principal + Fees Settled)
    PAYBACK_CONFIRMED --> CLOSED: Collateral Unslotted & Returned to Customer
    CLOSED --> [*]

Phase-by-Phase Lifecycle Breakdown

Phase 1: Deal Creation (DRAFT → BOOKED)

  1. Customer Identification: The customer is searched via phone/email or registered with primary KYC attributes (Firstname, Lastname, DOB, Sex, Email, Phone, IBAN).
  2. Deal Parameters: Branch location, duration (typically 1 to 3 months), and agreement type (Pawn vs Purchase) are established.
  3. Draft Item Creation: Items are attached to the deal with temporary identifiers and initial descriptions.

Phase 2: Valuation & Verification

  1. Category Questionnaire: If the item category has an active dynamic wizard template, specialized questions (e.g. storage capacity, cosmetic condition, battery health, IMEI) are answered.
  2. Vehicle Appraisal Engine (Cars): For automotive deals, the vehicle VIN is queried via the VIVI integration, returning technical specifications, mileage devaluation, and fair market value.
  3. Calculation: Payout amount is determined against market value. The central Cashy pricing engine calculates statutory fees (interest, storage, processing) live to ensure loan terms satisfy country-specific regulations.
  4. Physical & Legal Verification: Desk agents inspect serial numbers, upload customer photo identification, and verify ownership documents.

Phase 3: Payout Disbursement

  1. Payment Method: Desk agent selects CASH, BANK, or PAYPAL.
  2. SEPA Validation: If BANK is chosen, the European IBAN is strictly validated against the ISO 13616 format before payout execution.
  3. CashBook Logging: Cash payouts trigger an automatic outflow ledger entry linked to the active store cash drawer.

Phase 4: Vault Storage (PAYED_AND_STORED)

  1. Storage Constraint: Cashy-Hub enforces a strict business rule: A deal cannot transition to PAYED_AND_STORED until every item possesses a physical storage label.
  2. Slot Allocation: Items are scanned or assigned into warehouse slots (e.g. BIN-A-042, SAFE-12).
  3. Active Holding: The collateral remains vaulted for the contractual pawn duration.

Phase 5: Contract Extension (Verlängerung)

If the customer cannot repay the loan upon maturity, they may extend the contract: - The customer settles all accrued interest and storage fees to date. - A new contractual due date is issued. - The parent deal links to a child contract, resetting the operational term.

Phase 6: Loan Payback & Collateral Release (Einlösung)

  1. Customer returns to the branch to redeem their pledged items.
  2. The system calculates outstanding principal plus all accrued fees.
  3. Authorized managers may apply fee discounts with mandatory audit notes.
  4. The payment is recorded in the CashBook.
  5. Items are automatically released from inventory bins and returned to the customer, transitioning the deal to CLOSED.