11.4.1 Specifying Child Contract Details for Consolidation
In the Child Re-Price Transaction (Consolidation) section of the screen, you can specify the following details of the child contracts that have to be consolidated to the selected parent contract.
Table 11-5 Child Re-Price Transaction (Consolidation)
Fields | Description |
---|---|
Contract Ref No | Select the reference number of the child contract that is to be
merged with the parent contract. The option list displays the reference
number of all the non-LC type of drawdowns which are eligible for merge
reprice contracts. Contracts which satisfy the following conditions are
displayed in the option list:
|
Amount | The amount of the child contract which is re-priced and consolidated
with the parent contract is displayed here. This is the outstanding
principal amount of the child contract. The amount can be less than or
equal to the outstanding principal.
The system displays the sum total of the merged amount in the Total Merge Amount field. |
Currency | The currency of the child contract is displayed here. You can merge only those child contracts that have the same currency as the parent contract. |
Liquidate Interest | By default, this box is deselected. If you select this check box, the
system liquidates the outstanding interest for the child contract at the
time of re-pricing, if interest payment schedule exists on that day. If
you do not select this check box, the interest remains with the
child.
Note: If the child contract is prime loan, the system liquidates the interest which has been accrued till date (the re-price value date) irrespective of the Liquidate Interest option. |
Liquidate Principal | By default, the system selects this check box if the total amount of the child contracts is less than the outstanding principal balance. It instructs the system to liquidate the outstanding principal for the child contract at the time of re-pricing. You can deselect this check box, if required. |
Remarks | You can capture additional remarks for the consolidation transaction, if required. |
Parent topic: Capturing Consolidation Re-Price Instructions