4.8.2 Maintaining the details in the Contract tab

You can override some of the default values like the Value Date and Original Start Date.

You need to specify the following as the basic contract details.

• Counterparty

  By default, the counterparty (borrower) of the facility contract is displayed as the counterparty for the tranche contract. However, you can select a different counterparty from the option list provided. This list displays the borrowers identified for the facility contract. The customer you select defaults to any borrower drawdowns you enter against the draft tranche.

• Currency

  The currency of the facility contract is displayed for the draft tranche as well. You can change the currency, if required. The option list displays the allowable currencies defined for the facility contract against which the draft tranche is processed.

• Amount
  Specify the total amount that should be committed under the draft tranche (for borrower tranche contracts). The amount you enter must be:

  • More than the minimum defined at the facility contract level.
  • Less than the maximum defined at the facility contract level
• Value Date
  The value date must be,

  • Later than the value date of the main borrower facility contract.
  • Later than the start date of the tranche product.
  • Earlier than the maturity date of the tranche or drawdown product involving the contract.
  • Earlier than the maturity date of underlying facility contract.

  The value date can be changed after saving and authorizing the draft tranche, before initiation of tranche and when no drawdown is booked under the tranche.

  • Original Start Date
  • Original Start Date cannot be greater than value date of the contract.
  • Maturity Date
  • Deal Date
  • DD Expiry Date
  • Minimum DD Amount and Maximum DD Amount
  • Maximum No of DDs
  • Administrator

  Other details which can be provided are Holiday Treatment for Schedules, Commitment Fees and Interest/Fee Distribution method.