Collateral schedules that survive a site visit

Collateral schedules invite optimism. Serial numbers are copied from invoices; locations are described loosely; liens from prior facilities linger in footnotes that nobody updates. When a bank schedules a site visit, those soft edges harden into questions you must answer on the spot.

We ask clients to walk the schedule themselves before we audit it. Stand where each asset sits. Confirm the plate or registry number. Note whether the asset is leased, shared, or partially obsolete. If an item left the premises last quarter, remove it rather than hoping the visit skips that bay.

For real property, attach the land registry extract that matches the address used in the facility letter—not a marketing brochure address. For inventory pledges, state the valuation method and the date of the last count. Vague phrases such as “approximate stock” invite haircuts.

A schedule that survives a visit is usually shorter and more precise than the first draft. Precision is not decoration; it is how you keep pledged coverage from being quietly reduced after the walk-through.

Back to field notes · Request an estimate