Case study of alzheimers disease

Case study of alzheimers disease My first administrative position in mental health was working on a Geriatric Psychiatric unit of the local hospital. Many of the patients were elderly patients with Alzheimers. This was my first experience with Alzheimers disease and the effects it has on their families. Alzheimers is the most common type of dementia and is incurable, degenerative, and terminal (Wikipedia) . Symptoms of Alzheimers begin slowly and become worse until they interfere with daily life and patients are unable to even carry on conversations. Families become caregivers for their loved ones who dont know who they are any more. The prognosis is not good for patients afflicted with this type of dementia but researchers continue to look for new treatments and possible preventions. A few of the Alzheimers patients I worked with on the Geriatric unit are very memorable. There was a gentleman who was in the moderate to severe stage of the disease. His job for most of his life was that of a hospital administrator. M y office door was always open and some patients would wonder in time and again. My office must have triggered something in him because he would come in and need to sign papers. He would sit in my office for hours and sign papers. Another patient was a woman who had 12 children. She was always wondering the unit looking for her babies. The nurses bought her a baby doll and she carried it everywhere and it also calmed her down. Another aspect of Alzheimers is sundowners syndrome. Many of the Alzheimers patients would start to get agitated between 4:00 and 5:00 p.m. They would become more aggressive, oppositional and agitated. Sundowners syndrome is an increased time of memory loss, confusion, agitation, and even anger. For family members who care for Alzheimers patients, witnessing an increase in their loved ones symptoms of dementia at sunset can be nothing short of troubling, if not also painful, frightening, and exhausting (Sundowners Syndrome). Alzheimers is not a new disease. Alz heimers was first described by German psychiatrist and neuropathologist Alois Alzheimer in 1906. In 1901, Alzheimer observed a patient at the Frankfurt Asylum named Mrs. Auguste Deter. The 51-year-old patient had strange behavioral symptoms, including a loss of short-term memory. This patient would become his obsession over the coming years. In April 1906, Mrs. Deter died and Alzheimer had the patient records and the brain brought to Munich where he was working at Kraepelins lab. Together with two Italian physicians, he would use the staining techniques to identify amyloid plaques and neurofibrillary tangles (Wikipedia). Amyloid plagues are extracellular deposits that consist of a dense core of a protein known as B-amyloid, surrounded by degenerating axons and dendrites, along with activated microglia and reactive astrocytes, cells that are involved in destruction of damaged cells. Neurofibrillary tangles consist of dying neurons that contain intracellular accumulations of twisted f ilaments of hyperphosphorylated tau protein (Carlson, 2008). These abnormal structures are also found in brains of patients with Down syndrome. Unlike Down syndrome, Alzheimers is a progressive degenerative disease that gradually destroys a persons memory and daily functioning. Currently Alzheimers is diagnosed by symptoms, and only confirmed by brain examination after death. There are warning sides of Alzheimers disease that include memory loss that disrupts daily life. Challenges in planning or solving problems when there were no problems before. Difficulty completing familiar tasks or leisure activities they a person used to do. Confusion with time and place, which is what most people know about Alzheimers. This is when family members forget where they are going or days of activities. Trouble understanding visual images and spatial relationships or new problems with words speaking or writing. Misplacing things and the inability to retrace steps. Decreased or poor judgment and wit hdrawal from work and social activities. Changes in mood and personality, which is another warning sign that most people are also familiar with from media, etc. Grandma turns from sweet to irritable (Stages and Warning Signs of Alzheimers). The Alzheimers Association is a strong national organization that supports and funds Alzheimers research. Their website has a vast amount of information on symptoms, treatment, prevention and research of this disease. Taken from their website there are seven stages of Alzheimers. They include: Stage 1 where there is no impairment. Stage 2 there is very mild decline. Stage three there is mild decline. Stage four there is moderate decline. Stage five there is moderately severe decline and stage six and stage seven there is severe decline and very severe decline (Stages and Warning Signs of Alzheimers). The current major treatment for Alzheimers is medication management and each stage of Alzheimers requires a different medication. Mild to moderate A lzheimers is treated with cholinesterase inhibitors. These types of medications are prescribed because they may help delay or prevent the symptoms from becoming worse for a time and also help manage behaviors. The medications include: Razadyne (galantamine), Exelon (rivastigmine), and Aricept (donepezil). Another drug, Cognex (tacrine), was the first approved cholinesterase inhibitor but is rarely prescribed today due to safety concerns (Alzheimers Disease Medications Fact Sheet, 2010). Most people have heard of Aricept because is used often and advertised on the media more so than others. Moderate to severe Alzheimers is treated with a drug that regulates glutamate, an important brain chemical. The medication known as Namenda (memantine), an N-methyl D-aspartate (NMDA) antagonist. Aricept has also been approved by the FDA to treat moderate to severe Alzheimers. These drugs main effect is to delay progression of some of the symptoms and they may allow patients to maintain certain da ily functions a little longer than they would without the medication. The medication may help a patient in the later stages of the disease maintain his or her ability to use the bathroom independently for several more months, a benefit for both patients and caregivers (Alzheimers Disease Medications Fact Sheet, 2010). There is research going on to provide diagnosis by a simple blood test, this was reported by American researchers just last month. Also, other researchers have shown spinal fluid tests, which require a spinal tap, can detect early changes that signal the onset of Alzheimers. Imaging companies such as privately held Avid Radiopharmaceuticals, General Electrics GE Healthcare and Germanys Bayer are racing to finish clinical trials on new agents that can make brain lesions called plaques visible on positron emission tomography or PET scanners (Anonymous, 2010). Researchers also are looking at any possible prevention or slow down of the disease. Currently at Rush University is leading a nationwide clinical trial of a nutritional drink to determine whether it can improve cognitive performance in people with mild to moderate Alzheimers. The study follows recently released results from an earlier trial conducted in Europe showing that the drink, called Souvenaid, improved verbal recall in people with mild disease who were followed for three months (Anonymous., 2010). Alzheimers affects approximately 10 percent of the population above the age of 65 and almost 50 percent of people over the age of 85 years (Carlson, 2008). The number of Americans age 65 and older who have this condition will increase from the 5.1 million today to 13.5 million by mid-century. A recent report from the Alzheimers Association states that the cost of Alzheimers to the United States will be $20 trillion over the next 40 years. Changing the Trajectory of Alzheimers Disease: A National Imperative shows that in the absence of disease-modifying treatments, the cumulative costs of car e for people with Alzheimers from 2010 to 2050 will exceed $20 trillion, in todays dollars (Report: Alzheimers disease to cost United States $20 trillion over next 40 years, 2010). Statistics taken from the Alzheimers Association break it down as follows; Alzheimers disease costs business $24.6 billion in health care. In the US 7 out of 10 people with Alzheimers live at home where 75% of costs are absorbed by the family. The remaining 25% of care costs cost an average $19,000 a year. It is estimated that Alzheimers caregivers cost business $36.5 billion. This includes the costs of absenteeism and lost productivity. The average cost of a nursing home in the US is $42,000 a year. However in some areas those costs can be at least $70,000. Medicare costs for beneficiaries with Alzheimers disease were $91 billion in 2005. Medicare costs are expected to increase by 75% to $160 billion in 2010. Medicaid expenditures on residential dementia care were $21 billion in 2005. These costs are est imated to rise by 14% to $24 billion in 2010( (Kennard, 2010). The stress of caregivers for loved ones with Alzheimers is high. The frustration and challenges of caring for an adult who no longer complies with reasonable requests is a daily consequence of a loved one with Alzheimers. There are many support groups and resources for caregivers. Some tips for managing an Alzheimers patient is to have patience, be flexible, reduce frustration, reduce choices, reduce distractions to create a safe environment (Research, 1998-2010). Patience and flexibility are easy to figure out. Patience because a patient with Alzheimers will be oppositional at times, will not know their caregiver at times as well as not remember family members. The Alzheimer patients mood and reactions to daily tasks will change sometimes daily as the disease progresses. Flexibility with caring for Alzheimers patients is tied into their changing needs and abilities from day to day. Reducing frustration, choices and dist ractions would be like raising a toddler. Not too many choices or distractions for them to be overwhelmed with. A safe environment is pretty clear and we hear about Alzheimers patients wandering off reported on the news more often. Alzheimers patients who have been left in an unsecured house or got into a unlocked car. Doors should always be locked so the Alzheimers patient is unable open or figure out how to open. The car is easy to figure out, keep it locked! Take the car keys are keep them on you or hidden. There was a poem on the Geriatric unit wall where I worked. The author is unknown and it is taken from Coach Frank Broyles Playbook for Alzheimers Caregivers. The poem is a good reminder of what Alzheimers is all about and a good conclusion to this report. Do not ask me to remember. Dont try to make me understand. Let me rest and know youre with me. Kiss my cheek and hold my hand. Im confused beyond your concept. I am sad and sick and lost. All I know is that I need you, to be with me at all cost. Do not lose your patience with me. Do not scold or curse or cry. I cant help the way Im acting, cant be different though I try. Just remember that I need you, that the best of me is gone. Please dont fail to stand beside me, love me till my life is done.

Family Structure in Eating Disorders Essay -- Relationships Health Pap

Family Structure in Eating Disorders We are all genetically and socially affected by our families. Families serve as the matrix of our identity. It is through interactions within the family that we develop a sense of who we are and how we fit in (Minuchin, Rosman & Baker, 1978). Parents serve as role models, providing examples for attitudes, coping skills, and eating habits, as well as setting standards for perfection, ambition and acceptance (Hall & Cohn, 1992). Many researchers claim that family dynamics are at the root of eating disorders such as anorexia nervosa. The role of dysfunctional family interactions in the pathogenesis of anorexia nervosa has been given a prominent place in the research field. Evidence for a specific family constellation in this disorder, however, has been conflicting. While the majority of studies argue for a specific family interaction style, further studies must be conducted to identify distinguishing characteristics of anorexic subtypes and to determine whether these characteristics are of a causal or consequential nature (Minuchin, Rosman & Baker, 1978). Family focused treatments for anorexia nervosa have been developed based on accounts in family therapy literature of the "typical" anorexic or "psychosomatic" family (Weme & Yalom, 1996). Anorexic families may appear to have a perfect or ideal environment on the surface, but upon close observation little expression of affection or warmth is seen. Members of these families seldom take specific stands on issues, and conflict is avoided at all costs. Underlying dissatisfaction and tension is often present within the parental dyad. It has been suggested that parents of anorexic offspring put high expectations on their children to over-com... ...oanalysis and Eatiniz Disorders. Guilford Press: New York. Blinder, B.J., Chaitin, B.F., & Goldstein, R.S. (1988) The Eating Disorders. PMA Publishing: New York. Broberg, A. (1993). The anorectic family--an old-fashioned concept. Lakartidningen, 5@O 4550-4553. Hall, L., & Cohn, L. (1992). Bulimia, A Guide To Recovory Gurze Books: CA. Le Grange, D.C., & Rutherford, J. (1994). Redefining the psychosomatic family; family processes of 26 eating disorder families. International Journal of Eating Disorders. 3, 211-226. Minuchin, S., Rosman, B.L., & Baker, L. (1978). PYchosomatic Families. Harvard University Press: Mass. Weiss, L., Katzman, M., & Wolchik, S. (1985). Treating Bulimia. A Psychoeducational Approach. Pergamon Press: New York. Weme, J., & Yalom, J.D. (1996). Treating Eating Disorders. Jossey-Bass Publishers: San Francisco.

Interpersonal conflict in the movie “Hitch Essay

Conflict between people is a part of life and it is not necessarily a bad thing. I believe a relationship with frequent conflict may be healthier than one that seems to completely perfect or does not have any observable conflict. Conflicts can occur at many different levels of interaction, work, among friends, family members, and intimate relationships. When conflict occurs a relationship can be weakened or strengthened depending on the conflict and its resolution. Thus, conflict is a very critical event in the course of any relationship. Conflict can cause resentment, hostility, and perhaps end a relationship if it is handled poorly. However, conflict can be productive, lead to deeper understanding, mutual respect and closeness if it is handled well. I believe that the determination of whether a relationship is healthy or unhealthy does not depend on the number of conflicts between people, but on how the conflicts are handled and resolved. In the movie Hitch (Mordaunt & Tadross, 2005) I noticed the interpersonal conflict of lack of communication between the character Alex (Hitch) and Sara. In the movie they started to date and really got to like each other however, they both failed to disclose some very personal and important facts about one another. The most important thing in a healthy relationship is good communication and self –disclosure which both parties failed to do effectively. Both parties were dodging around the true aspects of their jobs. However, they were both very cautious about what they told each other and this eventually created a big problem in their relationship. The conflict actually started when a friend of Sara’s fills like she was dumped by her boyfriend due to the advice of a date specialist known as the â€Å"Date Doctor†. Sara later finds out that the man that she has a relationship with (Hitch) is the â€Å"date doctor†. Sara confronts Hitch and ask him if he is  indeed the â€Å"date doctor† he confirms that he is and tries to explain to her what he does. She refuses to listen and the fight begins. When she calms down and tries to talk to him he blows her off and refuses to listen. Finally, in the end they work things out. I believe that if Sara had been more open and really disclosed what she was trying to do they could have avoided the conflict that happened between them. Hitch could have been more open about what his job really consisted of and this may have given her more understanding on what he tries to do for people. The conflict may have been avoided if after Sara found out that he was the â€Å"date doctor† she had given time to explain and may have been reassured he was not trying to hurt people but make love connections. Instead they both chose to be stubborn and not communicate with other causing a lot of hurt and misunderstanding in their relationship. It is our interest to maintain relationships that are smooth, flexible, and mutually enhancing. The problem occurs when we fail to use cooperative approaches in our dealings with others. People do not create conflict intentionally. It sometimes happens because we are not aware of how our own behavior contributes to interpersonal problems. Sometimes we feel so exasperated that we focus on our own needs at expense of others. Then we find ourselves in conflict within our relationships. To prevent conflict from happening it is important to identify the ways in which we contribute to the disagreement and work on how you say things. Have a discussion (listen) to understand both sides of the problem and try to resolve it. In a relationship a person should be ready, willing and able to communicate their inner thoughts and feelings to one another. Communication is a key role in any healthy relationship, whether it is platonic, or intimate. RESOURCES www.livestrong.com/article/157478 www.drbalternatives.com/articles/cc2.html Mordaunt, W. Tadross, M. (Executive Producers), & Tennant, A. (Director). (2005). Hitch [Film]. Los Angeles: Sony Pictures

Hire Purchase Evolution Of Credit Finance Essay - Free Essay Example

Sample details Pages: 8 Words: 2333 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Business has evolved since the ancient times from barter, business, commercial venture, general manufacturing to specialized manufacturing today. Initially, only the seller and buyer were parties to a business transaction. The title to the asset is given by bill or invoice. Bill is used for consumables or low value assets that are usually purchased in cash. Invoice is used to specify durables or high value assets that are purchased on credit. Sales can be in either cash or credit. The two tasks for the seller are to sell and to monitor credit. Credit/ loan were evolved to bridge the gap between the purchasing power and demand. Over time credit organizations differentiated into sales and finance organizations. Today, three parties are involved in business transactions: seller, buyer and financier. Don’t waste time! Our writers will create an original "Hire Purchase Evolution Of Credit Finance Essay" essay for you Create order Advantages of credit Higher purchasing power Working capital is retained, increasing liquidity levels in the business Tax shield on interest expense Credit sales can be differentiated into Loan/Hypothecation Hire Purchase Leasing HISTORY OF HIRE PURCHASE Hire purchase originated in England and is now unique to former British colonies. The financier purchases the asset and lets it on hire to the user. The user exercises an option to purchase the asset at the end of the contract after paying all the dues. HP is a transaction in which the purchaser of goods pays an initial deposit and takes possession. Subsequent installments are made over a specified time after which ownership passes to the purchaser. The parties to the contract are Owner (financier) and Hirer (purchaser / user). The installments are called Hire Money. If there is a default in the payment of any installment, the financier retains the right to repossess the asset from the purchaser without any refund. Sundaram Finance is one of the first hire purchase companies in India. In fact, they were instrumental in the creation of the Hire Purchase Act of 1972. ELEMENTS OF HIRE PURCHASE AGREEMENT To be a valid hire purchase agreement, the following elements must be clearly specified in writing and signed by the hirer as well as the financier: Identifying attributes of the asset, such as chassis number, engine number etc. Cash price of the goods i.e. price at which the goods may be purchased Hire purchase price, which is the amount payable by the hirer under the agreement Down payment or initial hire payable by the hirer Number, amount and date of each installment payable by the hirer Date of commencement of hire purchase agreement Rate of interest charged by financier COMPARISON OF LOAN, HIRE PURCHASE AND LEASE Table 2.1 Comparison of Loan, Hire Purchase and Lease Criteria Hypothecation Hire Purchase Lease Sale of asset Sold to borrower, hypothecated to financier Sold to financier, financier hires to buyer (hirer) Sold to financier (lessor), financier leases to lessee Initial payment Margin money Initial hire Lease deposit Ownership Title is with borrower from the beginning At the end of the contract, title transfer to buyer is done Title remains with lessor throughout the life of the asset Cash flow to seller Loan value of the asset is paid by financier, balance amount by borrower 100% of asset cost is paid by financier 100% of asset cost is paid by lessor In case of default Money is the consideration Court intervention is necessary POA* is obtained to bypass court intervention Asset can be taken away by financier Court intervention is not necessary since the financier is the owner of the asset Asset can be taken away by lessee Court intervention is not necessary since the lessee is the owner of the asset *- POA is Power of Attorney. The lender/financier reserves the right to repossess the asset without court intervention, to save time and resources. PROCESS OF A HIRE PURCHASE TRANSACTION Eligibility to avail hire purchase The field officers approach a prospective client and explain the terms of the hire purchase deal. Generally, assets with a high rate of depreciation are financed through hire purchase. The following entities can avail finance: Persons of contractual capacity i.e. of age greater than 18 years (as verified by birth certificate), sound mind Partnership firms Proprietary organizations Companies Public limited companies Quasi- Governments Governments POA holders Natural Guardians Under Hindu Law, the partys father is preferred as natural guardian. Only by way of practice/ convenience the mother is accepted as guardian. Under Christian Law, either father or mother can be accepted as guardian. Under Muslim Law, there is no guardianship. Further, ladies behind purdah cannot be signatories to a hire-purchase agreement. Proposal Analysis Before entering into a contract with an applicant for a hire-purchase financing, field investigation is a must. The following aspects of a client are verified through field analysis: Place of residence (applicant should have resided in the place for a minimum of 2 years) Standard of life Character of applicant (determining willingness to pay) Income details Source of income Property owned by applicant Expenses Credit rating of the individual This is a strictly subjective judgment performed by the branch office and sent to the head office for verification. At Sundaram Finance, the applicants income and monthly commitment alone are considered. In case of salaried professionals, latest salary slip and annual tax returns or Form 16 have to be submitted. This is used to determine the gross salary, from which statutory deductions and total borrowings are reduced, arriving at net salary. This is the basis for capacity determination. In case of businesspeople, the companys balance sheet and PL account are scrutinized to determine the cash profit i.e. net profit after tax plus depreciation from PL account. Net annual income should be equal to or greater than twice the annual commitment of the contract. This is called cash flow cover. Amount Commitment is the sum of all the Equal Monthly Installments paid in a year i.e. [EMI] x 12. Calculation of EMI The total amount repayable is the sum of the principal (cost price of the asset) and interest (cost of funds). EMI = Amount repayable / Number of installments The interest component is given by Interest = Principal * Flat rate of interest * Number of years Flat Rate of Interest Simple Rate of Interest This is generally used for computing the EMI manually, easily and easy understanding of a monthly commitment. This rate of interest is used for the purpose of accounting and banking. The EMI is initially fixed and the hirer has to pay this fixed amount for all the installments. The EMI charges payable by the consumers vary for every installment when calculated using simple rate of interest and hence it is confusing. The amount contributed towards the interest and principle varies with installments. Interest amount is calculated for every month with respect to the principal remaining. At Sundaram Finance, hire purchase contracts normally exist for a period of between 12 months and 60 months, in multiples of 6 months. Operations The asset is purchased according to the hirers specifications. The engine number and chassis number specified in the invoice are noted in the contract. These details should be identical in the RC book, contract and invoice for the agreement to be legal. The date of the agreement and the invoice should be identical in a hire purchase contract, since the asset comes into existence on that date. However, this is not mandatory in hypothecation. The following documents are collected to process a hire purchase application: 1. Income proof Salary slip Form 16 Latest IT return PL A/C, balance sheet (audited) 2. Identity proof Passport Photo credit card Pan card Driving license Voter id Ration card Partnership deed Trust deed Certificate of incorporation 3. Location proof Ration card Telephone bill House tax challan Driving license Electricity bill 4. Asset proof House tax challan Copy of sale deed Wealth tax assessment Housing cooperation society bill 5. Signature verification Passport Photo credit card Pan card Driving license Voter ID card Signature verification from bank 6. Bank statement 7. Photograph Serving debt In hire purchase, debt need not be served in full. The buyer or renter is free to return the asset at any period in the agreement, and no further installments need to be paid. This is why 100% financing is never performed in a hire purchase transaction. At Sundaram Finance, the dates of payment are fixed as 3rd, 10th, 17th and 22nd of every month. Post dated cheques are collected. In event of default Default or non-payment of installments is defined as For car 2 months lapse in payment. For commercial vehicle 90 days lapse in payment. The following procedure is followed by the financier for repossession of asset in the event of payment default: Figure 2.1 Procedure to deal with payment default Contract termination At the end of the hire purchase contract Re. 1 is collected as option money to terminate the contract. Form 35 is issued. Financier endorses the RC book with no dues enabling title transfer to the hirer / purchaser. In a hypothecation, Form 35 is issued to terminate the contract. OTHER ASPECTS PERTAINING TO HIRE PURCHASE Motor Vehicles Act Any vehicle plying on a public road must be registered. Form 20 application to register a new vehicle Form 34 to register a new vehicle Form 29 30 transfer of ownership (If there is an endorsement in the RC book by a financier, title cannot be transferred unless a NOC No Objection Certificate is gained.) Form 35 termination or extension of contract Insurance Insurance can be defined as a lot of people sharing the burden of one deprived man. Motor Vehicle insurance does not specify a limit on the value of claims that can be made. It can be differentiated into comprehensive and third-party insurance. Third-party insurance merely compensates damages caused to third party by the actions of the vehicle user provided valid drivers license is present. Any vehicle plying on the road must have third party insurance. Comprehensive insurance also compensates for damage to the vehicle and owner, in addition to third party damage. Any vehicle under finance must compulsorily have comprehensive insurance. Insurance does not cover war war-like activities, nuclear reactions and acts of terrorism. CREDIT POLICY Credit policy aids the financier in preparing the terms of a hire purchase contract. It is merely a guideline for conducting the business. At Sundaram Finance the first written credit policy was established in 2000 when the volume of business crossed Rs. 2 crore. It is now reviewed every year, and is subject to change based on economic and other market conditions. Credit policy has an effect on three main variables: Percentage of funding Repayment period Interest rate Percentage of funding In hire purchase, 100% of asset value is never financed. The loan to value ratio varies according to the type of asset and the credit risk. The ratio is always calculated on the ex-invoice price less discount. Loan to Value ratio, or LTV, can increase if market expands or delinquencies decrease. Higher LTV means that a higher portion of the asset price is funded by the financier, with lesser initial hire amount. This is fixed according to the company policy and reviewed periodically. Interest rate The interest rate is inclusive of the internal return rate or profit margin for the financier. This is variable based on Return on Investment RBI regulations Economic reforms Market conditions Presently, the IRR cannot vary during the term of a contract. It has to be fixed at the time of drawing up the contract. Repayment Period This is almost always constant for a given type of asset and class of customer, owing to the depreciation of asset with time. ASSETS FINANCED THROUGH HIRE PURCHASE Sundaram Finance extends finance through hire purchase for Cars Commercial vehicles Cars are an expense, while commercial vehicles are an income generating asset. For financing a car, past income is considered, while for commercial vehicle, predicted future income flows are considered. Presently the market share of Sundaram Finance in hire purchase finance of cars is about 7 16%, with up to 24% in some pockets such as Vellore district. Credit Classification of Cars Table 2.2 Classification of Cars CLASSIFICATION NAME VALUE OF ASSET (in Rs. lakhs) A Small Car 3-4 B Medium Car 4-7.5 C Large Car 7.5-15 D Luxury Car 15 Table 2.3 LTV Funded for Cars and Jeeps SALARIED BUSINESS Small 90% 85% Medium 85% 85% luxury 80% 75% Repayment period for A B class cars, for salaried class, is 60 months. For others, it is 48 months. In the event of gifting a car acquired through hire purchase, third party guarantee with evidence must be present. Credit Classification of Commercial Vehicle Any vehicle that runs on the road for remuneration is a Commercial Vehicle. They can be classified as load carrying or passenger carrying vehicles stage carriage or contract carriage vehicles LCV, MCV, HCV or multi-axle vehicles Stage carriage is on a fixed route, with fixed timings and fixed fare. Ex. Public buses. Contract carriage is where every aspect route, timings and fare is customized according to individual customer needs. Ex. Autorickshaw. Table 2.4 Classification of Commercial Vehicles ABBREVIATION CLASSIFICATION GROSS LOAD WEIGHT (in tons) LCV Light Commercial Vehicle 5 MCV Medium Commercial Vehicle 5-10 HCV Heavy Commercial Vehicle 10-15 Multi Axle Vehicle 15 Table 2.5 LTV Funded for Commercial Vehicles TRUCK BUS LCV Experience (in years) 3 3 3 Tenure (in months) 48 48 36 LTV of total chassis cost 95% 90% 85% LTV of total body cost 90% 90% 85% Repayment period for LCVs alone is 36 months as they depreciate faster and earn less revenue. For other classes the period is 60 months. For used commercial vehicles, the following are the credit norms applicable at Sundaram Finance: Table 2.6 Credit Policy for Hire Purchase Finance of Used Commercial Vehicles CREDIT POLICY NEW CUSTOMER EXISTING CUSTOMER Age of vehicle at closure of contract = 8 years = 8 years Maximum tenure (in months) 36 36 LTV (on basis of market value) 60% 60% Paper cash cover (times net income) 1.5 1.5 Assessed cash cover (times net income) 2.0 2.0 Exposure limit (in Rs. Lakhs) 10 10(if not fixed by HO/RO) Age (in years) at the closure of contract 65 65 Years in business 2 2 Years in location 3 3 Eligibility criteria Should own one free and road-worthy vehicle Previous closed contract to be not greater than 12 months ago