Decipher uses specific roles to identify applicants, guarantors, owners, officers, contacts, vendors, etc. as well as Decipher users for security purposes and for the purpose of sending documents for signature. You will find detailed descriptions of each role below.
Primary Contact - The main business owner that applied for a credit facility/loan on behalf of a business/entity.
Decipher automatically assigns the main business owner listed as the Primary Contact. In the majority of cases, applications are submitted by one main business owner. Decipher users have the option to change the owner/officer roles at any time. The majority of emails and document templates are sent to the Primary Contact so most Email template categories are set as a default to go to the Primary Contact. This is done for security purposes and to limit the ability to view sensitive documents and agreements as well as documents being signed by unauthorized persons.
Who is typically the Primary Contact? It is usually the one business owner who will be signing the main agreements between the lender and the company. There may be other contacts that act as guarantors, but there is usually only one Primary Contact. A primary contact must be assigned to an application at all times. If you wish to change this role to a different business owner, change the primary first and then proceed to changing the others to contact, guarantor, etc.
Contact - Any secondary business owners or contact is automatically designated as a "Contact" in Decipher.
Documents for additional contacts can be sent individually for signature. However, documents must be set up in advance to be sent to additional contacts with the appropriate contact placeholders.
Other Roles:
Guarantor - A lender can designate someone as a "guarantor" but documents for signature must be set up with the guarantor role prior to sending.
Partner/Broker/Collaborator/Participant - A lender's partner or broker who typically works outside of the lender's company.
User - Decipher system users (lenders and their employees).
Vendor/Customer - the applicant's vendors or customers.