Table of Contents
New Request/ Contract Editor
Transaction ECTEDT
The transaction can be executed multiple times and serves as a contract editor, in order to
- support users in coordination processes with the participants
- enter Participations and Collateral
- document the results in the application
- and support the credit approval process.
To ensure the progress of negotiations and the status of the approval processes is clearly discernible, an unambiguous contractual status is determined for each export financing transaction.
Of all available statuses (see Status handling) a contract in this transaction can have the status of 'Request', 'Offer' or 'Unutilized'.
Which data can be changed depends on the status of the contract.
- 'Request' - Initial status for all export financing transactions that have not yet been approved; all fields are open for entries / changes. Borrower and/or exporter can be entered as temporary addresses.
- 'Offer' - The status 'Offer' is set if the bank-internal credit approval process has been completed successfully and the “Date of Approval” has been entered on the “Date Details” panel. Once a credit has been approved, it is no longer possible to add or delete participants. Borrower and/or exporter must be saved as a database address in the application. If risk bearers have been defined as contract participants, they can no longer be deleted. In the status 'Offer', an liability booking entry of the risk shares of the individual risk bearers is carried out if they are considered relevant to the liability (i.e., risk-minimizing or risk-transferring with liability).
- 'Unutilized' - The status 'Unutilized' is set if, in addition to the “Date of Approval”, the “Date of Loan Agreement” and the “Date of Handover Protocol” are also entered on the “Date details” panel. Once this status has been achieved, the dossiers can be finally opened and disbursements made under the dossier.
Frame Agreement
The export financing contract can be associated with a frame agreement. In a frame agreement, agreements are entered into with foreign banks in which the most important terms and conditions for financing the exports are laid down in advance. Under these general conditions, individual business transactions can be financed quickly and without requiring lengthy negotiations.
The benchmarks for a frame agreement are managed in a separate static data system (see Maintaining Frame Agreement). When creating an export financing contract, an option is provided to search for existing frame agreements and to select the suitable one.
No additional data or amounts are copied from the frame agreement. Linking to a frame agreement is optional. If the current business transaction is linked to a frame agreement, then the reference to the frame agreement is stored in the contract.
Copying a simulated repayment schedule
When creating an export financing transaction, a simulated repayment schedule (see transaction_dbirzp) can be copied across, provided it meets certain prerequisites in terms of the amount and the currency.
From the “Dossier Splitting”, a temporary repayment schedule must be saved for each dossier. In the dossier, the borrower and the dossier amount are defaulted from the maximum limit amount. This data can be changed by the user. Also, it is possible to store additional dossiers.
Section General Information provides an overview of the different calculation options.
Requirements
This transaction opens a new export financing request or allows further processing under an existing export finance.
When an existing Export Finance is used, it must not be closed. Transaction is only allowed if contract is in status “Request” or “Offer”.
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Transaction Control
Fees
None
Commissions
None
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
None
Updating/Storing of Amounts (CBS)
| Amount (CBS column acc. to code table CBCTXT) | CBS Entry type (acc. to code table CBTTXT) | External ID | Booking in/out | contract group | Description | Comment |
|---|---|---|---|---|---|---|
| Maximum amount (MAXSUM) | Change of maximum amount (MAXAMT) | AMT1 | Booking entry/ Update | ECDGRP and EFDGRP | request | To the level of maximum credit limit entered |
| Nominal amount (NOMSUM) | Change of nominal amount (NOMAMT) | AMT1 | Booking entry/ Update | ECDGRP and EFDGRP | request | Corresponds to the maximum credit limit minus the IDC amount entered |
| IDC amount (Interest During Construction) (IDCSUM) | IDC amount (Interest During Construction) (IDCAMT) | AMT1 | Booking entry/ Update | ECDGRP and EFDGRP | request | To the level of the IDC amount entered |
| Open amount (OPNSUM) | Open amount (OPNAMT) | AMT1 | Booking entry/ Update | ECDGRP and EFDGRP | request | Corresponds to the nominal amount |
| Interest amount (INTSUM) | Interest amount (INTRSK) | AMT1 | Booking entry/ Update | ECDGRP and EFDGRP | request | Total interest from all temporary repayment schedules saved under the contract |
| Amount not yet utilized (UPASUM) | Amount not yet utilized (UPAAMT) | AMT1 | Booking entry/ Update | ECDGRP and EFDGRP | request | Corresponds to the nominal amount provided no disbursements have been made yet under the contract. |
| Own Take (RSKSUM) | Own Take (RSKAMT) | AMT1 | Booking entry/ Update | ECDGRP and EFDGRP | request | Corresponds to the maximum credit limit minus the IDC amount entered (and hence the nominal amount, if no participants are saved in the contract). If sub-participations exist in the contract, then the own take corresponds to the maximum credit limit minus the total for all participants. |
| Amount not yet utilized (Own Take) (UNSSUM) | Amount not yet utilized (Own Take) (UNSAMT) | AMT1 | Booking entry/ Update | ECDGRP and EFDGRP | request | Corresponds to the own take provided no disbursements have been made yet under the contract. |
Liability (LIA)
A liability booking entry is made only if Collateral pledged was saved in the contract and if the credit has been approved (i.e., the credit approval date has been set) and if the contract has a status of 'Offer'. When the status changes from 'Request' to 'Offer', a liability entry is made; consequently if the status changes from 'Offer' back to 'Request', the previously booked liability would be reversed again.
See also Amounts / Liabilities for more information.
Outgoing Correspondence
Details on creation of messages can be found under DOCEOT Messages. For outgoing allNETT / RIVO messages see Overview of Outgoing messages - allNETT / RIVO.
No outgoing correspondence will be created.
Release
Transaction Panels
Overview
Consolidation
Amount Details
Dossier Splitting
Dossier Details
Collateral
Parties
Date Details
Settlement Details
Settlement
Completion
Messages
Compliance
Attachments
Participations
Overview
The key information about the export financing transaction can be entered on the “Overview” panel.
Depending on the credit type selected, only the suitable entry options will be available in the fields “Product type”, “Limit Code” and “Credit type”.
The “Agent Bank” is proposed based on the Entity address. This can be changed if the bank using the application participates in the export financing transaction of another bank. In this case only silent sub-participations are permitted.
Datafields
| Datafield | Description |
|---|---|
| Reference of Export Finance | cf Appendix A, Table ECD field OWNREF |
| Reference of Frame Agreement | cf Appendix A, Table ERK field EXTKEY |
| Responsible User | cf Appendix A, Table ECD field OWNUSR |
| Responsible Service User | cf Appendix A, Table ECD field SRVUSR |
| Type of Finance | cf Appendix A, Table ECD field FINTYP |
| Product Type | cf Appendix A, Table ECD field PRDTYP |
| Limit Code | cf Appendix A, Table ECD field LKRTYP |
| Credit Type | cf Appendix A, Table ECD field CRDTYP |
| Multi-Source Flag | cf Appendix A, Table ECD field MSCFLG |
| Flag 'With IDC Amount' (Interest During Construction) | cf Appendix A, Table ECD field CHKIDC |
| Working Capital Loan Flag | cf Appendix A, Table ECD field FORFLG |
| Discounting Flag | cf Appendix A, Table ECD field DSCFLG |
| Project Name | cf Appendix A, Table ECD field PRJNAM |
| Contract Reference | cf Appendix A, Table ECD field CTRREF |
| Goods | cf Appendix A, Table ECD field GOODS |
| Contract Status | cf Appendix A, Table ECD field CONSTA |
| Withholding Tax | cf Appendix A, Table ECD field HOLTAX |
| Percentage of Withholding Tax | cf Appendix A, Table ECD field TAXPRC |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| Country Code (for Statistics) | cf Appendix A, Table ECD field STACTY |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
Consolidation
Depending on the selected “Credit type”, the “Product type” and any “Discounting” that may apply, all required amounts are shown on the “Amount details” panel. They consists of the amounts in the delivery contract, the amounts in the agreement with the bank and the financing amounts.
For a buyer's credit, for example, the “Delivery value”, any advance or intermediate disbursements to be paid or financed can be entered from the delivery contract. The “Bank tranche financed amount” is calculated based on the total of all the amounts entered.
If premiums (e.g., for the credit insurer) or fees are to be financed as well, then these can be entered in the field available for this purpose. “Capitalized interest during construction” (IDC = Interest During Construction) can be entered if the checkbox “With IDC amount” is checked on the “Overview” panel. The credit amount is calculated based on the total of all the amounts entered, and it is simultaneously entered as the maximum credit limit in the field of the same name.
If the financing transaction is to occur in a currency other than the currency stated the delivery contract, then the currency and the amount for the maximum credit limit can be changed accordingly. Based on the credit amount and the maximum credit limit, a “Fixed exchange rate” is calculated. This exchange rate is also used to convert the own take into a different currency.
The “Own take” reflects the risk borne by the financing bank. For a financing transaction without participations, the own take corresponds to the maximum credit limit (100%). The bank can reduce its own take if participants assume a proportion of the risk. If sub-participations are entered on the panel of the same name, the bank's own take will be reduced by the sum of all the sub-participations. For example, if participations amounting to 28% are entered, the bank's own take will be reduced to 72% of the maximum credit limit.
Instead of using amounts, advance payments, intermediate payments, premiums and charges can also be entered as percentages of the delivery value. The corresponding amounts are then calculated based on the percentages.
Datafields
| Datafield | Description |
|---|---|
| Text for Cut-Off Date (Consolidation) | cf Appendix A, Table ECT field CUTOFFTXT |
| Dossier Reference | The dossier reference (or parts of it) can be entered in order to search for matching contracts. |
| External Key | cf Appendix A, Table PTY field EXTKEY |
| Cut-Off Date | cf Appendix A, Table ECD field CUTOFFDAT |
| Original due dates | cf Appendix A, Table ECD field ORGDUEFLG |
| Total Consolidation Amount | The Total Consolidation Amount is the sum of the Total Principal plus Total Interest of the dossiers selected for consolidation. |
| Total Interest | The Total Interest Amount is the sum of all interest amounts of the dossiers selected for consolidation. |
| Total Principal | The Total Principal Amount is the sum of all principal amounts of the dossiers selected for consolidation. |
Amount Details
Datafields
| Datafield | Description |
|---|---|
| Currency Original Amount | cf Appendix A, Table ECD field ORICUR |
| Credit Element (Original Amount) | cf Appendix A, Table ECD field ORIMAX |
| Credit Element Financed Percentage | cf Appendix A, Table ECD field ORIMAXPCT |
| Currency | cf Appendix A, Table CBB field CUR |
| Maximum Limit Amount | The Maximum Limit Amount is the most important amount field as it reflects the amount of the financing and is the basis for the bank internal approval process, liability booking, utilizations and calculations that are handled in this business module. The Maximum Limit Amount specifies the Credit Element Amount converted into the currency of the requested export financing. It is the sum of the Financed Amount (Bankportion) plus any fees, premiums or IDC amount that are financed by the bank. cf Appendix A, Table CBB field AMT |
| Static Rate (Credit Element / Max. Limit Amount) | cf Appendix A, Table ECD field XRTRATMAX |
| Bank's Own Take (in original currency) | cf Appendix A, Table ECD field OWNAMT |
| Banks Own Take Percentage | cf Appendix A, Table ECD field OWNAMTPCT |
| Currency | cf Appendix A, Table CBB field CUR |
| Own Take Amount | The Own Take Amount reflects the bank's risk. It is calculated in the currency of the maximum limit amount. Participations under the export finance reduce the Own Take of the bank. cf Appendix A, Table CBB field AMT |
| Static Rate of Own Take | cf Appendix A, Table ECD field XRTRATRSK |
Dossier Splitting
For each export financing transaction, at least one dossier (sub-contract) in the amount of the maximum credit limit must be entered.
For complex business transactions involving several exporters or for mixed loans (financing through a bank and a federal government tranche), it may be necessary to create more than one dossier.
The “Dossier Splitting” panel allows a maximum of 99 dossiers to be created. Dossiers can be created in a currency other than the currency of the main contract, and for a different participant. Since the sum total of all dossiers must not exceed the credit limit, the system checks that the data entered does not result in a discrepancy. The dossier amount in a foreign currency can be entered manually. The exchange rate is calculated based on the dossier amount entered in the foreign currency and the converted amount.
The number of dossiers entered is saved and is available to the user for information when creating a dossier, as well as on the selection panel for the export financing.
Datafields
| Datafield | Description |
|---|---|
| Currency | cf Appendix A, Table CBB field CUR |
| Amount | The IDC Amount reflects the interest that occurs during the construction phase converted into the currency of the export finance. The IDC Amount can not be utilized/ drawn under the finance. cf Appendix A, Table CBB field AMT |
| Total Dossier Amount | This field specifies the total amount of all dossiers under the export finance. |
| Amount Difference | This field calculates the difference between the maximum limit amount and the total amount of all dossiers under the export finance. The amount difference must be zero in order to be able to store the contract. |
Dossier Details
The data entered on the “Dossier Details” panel is used for data entry, for information purposes, for managing schedules in the dossiers, and for the (automatic) generation of ToDo entries for automated data processing (Creating SPTs).
The “Dossier Details” panel is available in the export financing as well as in the dossier.
When the dossier is created (Opening Dossier), the data is copied from the main contract to the sub-contracts and can then be changed there, allowing the data in multiple dossiers to be maintained independently of each other.
The number of days for borrowers, exporters, participants shown under “Request for Payment” generate a schedule for the repayment of principal, interest, the collection of commissions and the planned utilization/disbursement of the loan, provided a corresponding number of days has been saved.
If the checkbox “Roll Over” has been checked, a date is generated for the transaction Account Change in order to generate a roll-over for the dossier.
The number of days defined in the field “Suspension posting” indicates at what time a suspension posting for the repayment should be made. An option is provided to carry out suspension postings via the batch transaction Creating SPTs.
The fields “Applicable Law”, “Place of Jurisdiction” and the data fields for interest and margins (“Margin Bank”, “Margin Exporter”, “Skim Participation”, “Fixing”) serve information purposes and are available for evaluations.
Datafields
| Datafield | Description |
|---|---|
| Request for Payment Borrower Principal in Days | cf Appendix A, Table ECD field RFPBORPRI |
| Request for Payment Borrower Interest in Days | cf Appendix A, Table ECD field RFPBORINT |
| Request for Payment Borrower Commission in Days | cf Appendix A, Table ECD field RFPBORCOM |
| Request for Payment Borrower Drawdown in Days | cf Appendix A, Table ECD field RFPBORDRW |
| Request for Payment Exporter Principal in Days | cf Appendix A, Table ECD field RFPEXPPRI |
| Request for Payment Exporter Interest in Days | cf Appendix A, Table ECD field RFPEXPINT |
| Request for Payment Exporter Commission in Days | cf Appendix A, Table ECD field RFPEXPCOM |
| Request for Payment Exporter Drawdown in Days | cf Appendix A, Table ECD field RFPEXPDRW |
| Request for Payment Participations Principal in Days | cf Appendix A, Table ECD field RFPPATPRI |
| Request for Payment Participations Interest in Days | cf Appendix A, Table ECD field RFPPATINT |
| Request for Payment Participations Commissions in Days | cf Appendix A, Table ECD field RFPPATCOM |
| Request for Payment Participations Drawdown in Days | cf Appendix A, Table ECD field RFPPATDRW |
| Roll Over | cf Appendix A, Table ECD field ROLOVR |
| Reference Rate for Margin | cf Appendix A, Table ECD field MRGREFRAT |
| Margin Bank | cf Appendix A, Table ECD field MRGBNK |
| Fixing | cf Appendix A, Table ECD field MRGFXG |
| Margin Exporter | cf Appendix A, Table ECD field MRGEXP |
| Fixing - Free Text (Exporter) | cf Appendix A, Table ECT field MRGFXGTXT |
| Margin Skim Participation | cf Appendix A, Table ECD field MRGPAT |
| Suspension Posting in Days | cf Appendix A, Table ECD field SUSPST |
| Request for Financial Statements | cf Appendix A, Table ECD field FINSTADAT |
| Applicable Law Loan Agreement | cf Appendix A, Table ECD field LAWLA |
| Applicable Law Export Agreement | cf Appendix A, Table ECD field LAWEA |
| Applicable Law Delivery Contract | cf Appendix A, Table ECD field LAWDC |
| Place of Jurisdiction Loan Agreement | cf Appendix A, Table ECD field JURLA |
| Place of Jurisdiction Export Agreement | cf Appendix A, Table ECD field JUREA |
| Place of Jurisdiction Delivery Contract | cf Appendix A, Table ECD field JURDC |
Parties
Datafields
| Datafield | Description |
|---|---|
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
Date Details
Datafields
| Datafield | Description |
|---|---|
| Label Date of Exporter Agreement | cf Appendix A, Table ECD field BEXDATLAB |
| Date of Request | cf Appendix A, Table ECD field ORDDAT |
| Date of Creation (Export Finance) | cf Appendix A, Table ECD field CREDAT |
| Date of Approval | cf Appendix A, Table ECD field VCRDAT |
| Date of Binding Offer To Customer | cf Appendix A, Table ECD field OTCDAT |
| Date of Offer Validity | cf Appendix A, Table ECD field OTLDAT |
| Date Offer Accepted By Customer | cf Appendix A, Table ECD field OACDAT |
| Date of Loan Agreement / Export Agreement | cf Appendix A, Table ECD field OPNDAT |
| Date of Exporter Agreement | cf Appendix A, Table ECD field BEXDAT |
| Date of Handover Protocol | cf Appendix A, Table ECD field PRTDAT |
| Date of Refusal / Closing Date | cf Appendix A, Table ECD field CLSDAT |
| Date of First Drawdown | cf Appendix A, Table ECD field FSTDAT |
| Date of Last Drawdown | cf Appendix A, Table ECD field FULDAT |
| Date of Last Amortisation | cf Appendix A, Table ECD field EXPDAT |
Compliance
