Any operation on a contract - input, copying, modification, value-dated changes, manual liquidation, rollover, reversal, etc., - has to be authorized by a user other than the one who performed the operation. All the contracts should be authorized before End of Day operations can begin. A contract on Hold does not need authorization.

From the Contract Summary View (when the contract is highlighted), or the Contract Detailed View (when the contract details are displayed), you can load the ‘Contract Authorization’ screen either by:

• Clicking authorize icon in the Toolbar

Description of the illustration 4.2.9_authorizing-contract.png

If the contract involves a product for which some Re-key fields have been defined, the details of the contract will be displayed only after you input the values in those fields. If no Re-key fields have been defined, the details of the contract will be displayed in the ‘Authorization’ screen.

All the overrides that were given during the operation will be displayed when the contract is being authorized.

If you are authorizing an amendment, the old values are replaced by the amended values, which will be available for subsequent processing.

The old values, however, will still be available in an earlier version of the contract. Click on ‘Ok’ button to authorize the contract. Click on ‘Exit’ button if you do not want to authorize the contract.

After the contract has been authorized, the accounting entries passed during this stage will also be marked as authorized and advises, if any have been specified for the operation, will be generated.

You will be returned to the screen from where you loaded the ‘Contract Authorization’ screen (Contract Summary View or Contract Detailed View).