AwaitingApproval

The AwaitingApproval phase begins automatically when the vault reaches full funding. The Pool Manager must now review and approve the loan for disbursement.

What Happens

• The vault holds the full principal amount deposited by investors

• The Pool Manager reviews the vault and confirms readiness

• The manager calls approve_and_disburse to release funds to the borrower

Approval & Disbursement

When the manager calls approve_and_disburse(caller):

1. The full funded amount is transferred to the borrower's address

2. The EMI (Equated Monthly Instalment) is calculated based on the principal, interest rate, and loan term

3. The first payment due date is set to 30 days from disbursement

4. The outstanding principal is initialised to the full principal amount

5. The missed payments counter is set to 0

6. The vault transitions to Active

Only the vault's Pool Manager can call approve_and_disburse. This is verified on-chain through the manager address stored in the vault configuration.

Approval Deadline

If the vault was created with an approval_deadline, the vault can be cancelled if the manager fails to approve by the deadline.

• Anyone can call check_approval_expiry() after the deadline passes

• All investor deposits are refunded

• The manager's locked collateral is released

• The vault transitions directly to Finalized

This protects investors from having their capital locked indefinitely in a funded but unapproved vault.

Relevant Functions

Function	Caller	Description
approve_and_disburse(caller)	Manager	Approve loan and disburse to borrower
check_approval_expiry()	Anyone	Cancel vault if approval deadline passed