Guide

Asset state

Lifecycle, performance, delinquency bands and defaults: what Fence works out for each asset, and your program's rules for it.

An asset's state is what Fence works out from everything you sent: where the asset is in its life, what it owes, how late it is and whether it is in default. Fence works it out again whenever the asset's data changes, and every hour. Nobody edits it by hand.

Lifecycle: where the asset is in its life

Lifecycle	Meaning
`pending`	Declared; nothing paid out yet.
`active`	Money paid out. An asset in default stays active.
`closed`	Ended, always with a reason: `paid_in_full`, `prepaid_in_full`, `refinanced`, `settled`, `forgiven` and others.
`cancelled`	The payout was undone.

Performance: how an active asset is paying

Performance	Meaning
`current`	Nothing late past the grace days, or less than the minimum past due.
`delinquent`	Late past the grace days, by at least the minimum. It falls in a band.
`in_default`	A default is open.

When several apply, the worst wins. A closed asset keeps the performance it had on the day it closed.

Your program's rules

Rule	Setting	What it does
Days past due		Counted from the oldest unpaid due date.
Grace days	`grace_days`	The asset stays current while its days past due are no more than this.
Minimum past due	`minimum_past_due`	Per currency. Less than this late past the grace days keeps the asset current: a few cents late is not delinquency.
Delinquency bands	`band_limits`	The last day of each band but the last: `[30, 60, 90]` makes 1–30, 31–60, 61–90 and over 90.
Default	`default_threshold_days`	A default opens on the day days past due reach this number, or never with `"never"`.
Cure	`cure`	How a default ends: `arrears_paid`, on the day nothing is late any more; `days_with_nothing_late`, after that many days in a row with nothing late; `never`, only when paid in full.

A worked example

On 4 March the asset is current: 3 days late, within grace. On 15 March it is delinquent in band 1–30. On 30 May it reaches 90 days and a default opens. Paid in full on 10 June, the default is cured and the asset is current again.

Had 97.00 been paid on 1 March, with a minimum past due of 5.00 EUR, the 3.00 left would keep the asset current.

Read it

curl -s "$FENCE_API/v1/api/asset-programs/$PROGRAM_ID/asset-states?performance=delinquent&sort=days_late" \
  -H "Authorization: Bearer $TOKEN"

To read	Route
The whole program, counted by lifecycle, performance, currency and band	`GET …/asset-states/summary`
The assets that match a filter	`GET …/asset-states?performance=…&band=…&min_days_past_due=…`
One asset's state	`GET …/assets/{id}?include=state`
How it changed	`GET …/assets/{id}/state/history`

Every change of state is a new line of the history, with the day Fence learned it, its cause and its reason (became_delinquent, band_changed, defaulted, cured and others). A late correction shows on the day Fence learned it and never rewrites earlier lines, so the history answers what Fence knew on any past date.