Background and Context........................................................................................................... 3. B. Purpose of this Guidance .......................................................................................................... 4. C. Target Audience, Status and Content of the Guidance ............................................................ 5. D. Scope of the Guidance: terminology, Key features and business models................................
A lien holder is someone who has either leased a vehicle to you with an insurable interest, or given you money on loan to buy it. The lien holder is usually a bank or another financial firm. When insuring your car, the lien holder is also included on your policy. This will protect the lien holder in the event that you are in an accident and damage the vehicle. The lien holder has a secured interest in the car.
What is Vehicle Security System? A Vehicle security system is a system that combines the Internet technology, GPS and GPRS technologies to track down the location of vehicles. Vehicle monitoring System allows a party to locate, trace and monitor its vehicles in real time. With the GSM/GPRS technology, security can be implemented by collecting data about the vehicle in the process from the field and deliver it to the base of operation. The vehicle security system is of two types basically: passive and active. The location according to GPS coordinates is stored in Passive devices along with the speed, heading and sometimes a trigger event such as key on/off, door open/closed.