4.40.1 Relaxing Dual Authorization
The system allows you to mark dual authorization relaxed for non-Lead type of contracts and to payments and fee liquidations.
Dual auth relaxation is provided for some messages based on the certain conditions. Below mentioned are the messages for which Dual authorization is relaxed.
| ERR_CODE | MESSAGE | TYPE |
|---|---|---|
| LS-PMT-404 | Participant share amount not matching with the fax send. Please Resend the fax. | D |
| LS-PMT-402 | Investor side amounts have been changed due to trade activity resend the message before making the payment. | D |
| LS-PMT-804 | Participant share amount not matching with the fax send. Please Resend the fax $1. | D |
| CF-CUS-001 | Borrower/Counterparty is Classified. | D |
| CF-CUS-002 | Investor/s are Classified | D |
The fee liquidation and payments done through the system and for incoming FpML
processing, the system checks for the below mentioned conditions before applying dual
authorization:
- If a contract has only self-participants with non-zero (<>0) position, when fee liquidation or the payment processing encounters the messages mentioned above system does NOT apply Dual Authorization process. In case of incoming FpML consumption, status in incoming browser is NOT to be updated as Pending Authorization.
- If a contract has self-participants with non-zero (<>0) position and external participants with zero (0.0) position, when fee liquidation or the payment processing encounters the messages mentioned above system does NOT apply Dual Authorization process. In case of incoming FpML consumption, status in incoming browser is NOT updated as Pending Authorization.
- If there are non self-participants with non-zero (<>0) position brought into the tranche at a later date, fee liquidation or the payment processing is on Dual Authorization process, based on any dual authorization condition is met.
- If the bank entity that do not reflect as self participant OR external participant exists with non-zero (<>0) position in the contract, fee liquidation or the payment processing is of Dual Authorization screen populating, based on any dual authorization condition is met.
Parent topic: Dual Authorization