Definition of «approval process»

The approval process refers to a series of steps or procedures that must be followed in order for something to gain acceptance, authorization, or validation. This can apply to various situations such as proposals, projects, ideas, products, services, and more. The specifics of the approval process may vary depending on the context but typically involves reviewing documentation, conducting evaluations, holding meetings or presentations, making decisions, and documenting the results. The goal is to ensure that whatever is being considered has met certain standards or requirements before it can be approved for implementation, use, or release.

Sentences with «approval process»

  • Banks follow a long loan approval process for mortgages, which may be a problem for those in urgent need for funds. (mortgagebrokerstore.com)
  • A mortgage loan approval process takes into consideration a large number of variables borrowers could not possibly imagine or know before applying for a loan. (clearlending.com)
  • Banks follow a strict mortgage approval process in which credit score is of ultimate importance. (mortgagebrokerstore.com)
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