4.1 Introduction

A contract is a specific agreement or transaction entered into between two or more entities. A customer who approaches your bank to avail of any of the services offered by your bank enters into a contract with your bank.

In the case of a syndication facility contract, the entities involved in a contract are the borrowing customers and the participants for any tranche of the agreement.

Similarly, any specific loans (drawdowns) disbursed by your bank under a tranche in the facility contract are also contracts.