5.12.2 Transferring assets between existing participants

To transfer assets from one participant to another, you have to select the reference number of the contract for which you want to initiate the asset transfer amongst the participants.

1. Enter the Contract Reference Number. You can either enter or select from the option list.
2. Click Default button.The system defaults the contract details.
3. Click Transfer Details tab.

You can either click Add Row or Delete Row to add or delete participants. The Participant Selection screen is displayed.

Figure 5-58 Participant Selection

Description of "Figure 5-58 Participant Selection"

In this screen, you can view the existing participants of the contract.

The Participant Transfer Details screen displays the following details:

• Full name of the Participants involved in the transfer.
• Asset Sharing Ratio and Current Asset Amount for each participant.
• Fee, Charge, and Interest (along with the respective components) for each participant, if applicable.
• The SSI Mnemonics for each participant.
• System displays the entity details of all the participants new or existing for checker’s verification.

You have the option to capture a consolidated type of transfer instruction or a detailed instruction for each participant. By default, the system takes you to the Consolidated tab of the Participant Transfer Details screen.

The system ensures the following when you capture the transfer instructions:

• You select a participant as a transferor only once.
• You can select a participant as a transferee multiple times but under different transferors.
• You can select a participant as a transferor as well as a transferee for a different transferor.
• The transfer ratio is applied on the eligibility amount of the transferor as on the value date of the transfer to arrive at the transfer amount. The impact of current transfer instruction will not be considered.
• Only one one-one relationship exists between a transferor and transferee. For instance, if Participant 1 is the transferor and Participant 2 is the transferee, you cannot have a combination where Participant 2 is the transferor and Participant 1 is the transferee.

This topic contains the following sub-topics:

• Capturing Detailed Transfer Instructions
  
• Capturing Consolidated Transfer Instructions
  
• Capturing LOR (Lendor Of Record) Adjustments
  
• Capturing Transfer Fee Details
  
• Operations Allowed on Tranches/Drawdowns with Unauthorized Prams
  
• Viewing the Participant Details After the Transfer
  
• Adding a New Participant
  
• Viewing Details of Processed Transfers
  
• Viewing Details of Pending Transfers