5.9.1 Modifying Participant Details

You can amend the participant details, if required. To do this, you have to first select the contract that needs to be amended. After selecting the contract, select Unlock from the menu to unlock the contract for making the amendment.

You cannot amend the following details:

• Contract Reference Numbers

  When the participant contracts are initiated, the system generates reference numbers (Contract Reference Number and User Reference Number) for them in the same manner as for normal borrower contracts.

  For the purpose of tracking a borrower tranche, the reference numbers of the resultant participant tranche contracts are linked to the reference number of the parent borrower tranche.

  For the purpose of tracking a borrower drawdown, the reference numbers of the resultant participant drawdown deposit contracts are linked to the reference number of the parent borrower drawdown, as well as to its’ parent borrower tranche.

• Product and contract details

  As mentioned earlier, in the product preferences for a borrower facility product, you specify the corresponding participant facility product that is to be used for the related participant facility contract created by the system. This is the product that would be used for the creation of the participant facility contract, along with the participant details specified in the borrower facility contract.

  Similarly, in the product preferences for a borrower tranche or drawdown product, you specify the corresponding participant tranche or drawdown product that is to be used for the related participant tranche or drawdown created by the system. This is the product that would be used for the creation of the participant tranche or drawdown, along with the participant details specified in the borrower tranche.

In the Contract Details section of the screen, you can specify the following details:

• Auto Collection

  You have to check this option to indicate that collection from the participant must be initiated automatically. The specification made in the preferences for the participant tranche or drawdown product used by the participant contract is displayed here. You can change it, if required.

• Auto Disbursement

  This option indicates whether the amount repaid by the borrower must be disbursed automatically. The specification made in the preferences for the participant facility, tranche or drawdown product used by the participant contract is displayed here. You can change it, if required.

• Remarks

  The remarks specified for the parent borrower facility, tranche or drawdown, under which the participant contract is created, defaults here. You can modify these remarks appropriately, if required.