6.5.4.1 Validations
The system performs the following validations during the save operation in
Mark Liquidated screen.
- Validation for drawdown contracts:
- Contract should be in Active and authorized status.
- There should be no outstanding amount of any Principal and Interest/Fee component.
- All Escrow customer and General Ledger (GL) accounts linked to the drawdown contract should have zero balance.
- The origination loans contracts that are linked to the self-participants in the drawdown should be in Liquidated or Reversed status.
- For sighting funds enabled drawdowns, there should not be any pending transaction in sighting funds browser.
- Validation for tranche contracts:
- Contract should be in Active and authorized status.
- Tranche cannot be liquidated if any underlying drawdowns are in Active or Uninitiated or Hold status.
- There should be no outstanding amount of any Principal and Fee components.
- All underlying commitments of self participants in the tranche should be Liquidated or Reversed status.
- All Escrow customer and GL accounts linked to the tranche contracts and underlying drawdowns should have zero balance.
- For sighting funds enabled tranches, there should not be any pending transaction in sighting funds browser.
- Maturity date of the tranche should be less than or equal to application date.
- There should be no individual investor balance of the participant contracts for the Borrower tranche or drawdown contract.
- There should be no collateral online and settlement contract balances.
Parent topic: Marking Contracts as Liquidated