3.1.6 Modify a Placement or a Borrowing

There are two types of modifications that you can make on a contract:

• Those that affect the financial details of the contract.
• Those that do not affect the financial details of the contract

(“Financial details” include the accounting entries that have already been passed or the advices that have already been generated).

For example, the changes made to the User Reference Number, Auto Rollover and Auto Liquidation flags, do not result in changes to the accounting entries that have been passed.

However, the inputs to some fields that contain financial information is changed only under specific circumstances. This is done through the Value Dated Changes function. For example, the changes in the interest rate, increase in the principal, etc., is made only through the Value Dated Changes function.

A deal on which the previous activity has been saved but not been authorized is modified. For example, you have captured the details of a deal. The details are saved but not yet authorized when you realize that some of the details have been wrongly entered. You can unlock the contract make the modifications and Save it. The uploaded contracts is amended by any valid user – the contract maker or others.

Note:

Any type of change, however, has to be authorized, before it takes effect.