A 'Syndication Master' can only be created if there is at least one liability entry available at the primary side. This is because syndication is a process of sharing the risk of one's own books with some other financial institution.

There can be only one Syndication Master created, but one or many Syndication Deals can be created under a Syndication Master Contract. Each Syndication Deal is connected to one Syndication Party. Hence the risk can be shared with one or many Syndication Parties.

The Master Contract includes an overview of the linked parent contract, for instance an Export L/C such as L/C Reference, Primary Liability Amount, Recourse Party, Type of Transaction, or suchlike.

Possible entries for Type of Transaction are:

• Confirmed Letter of Credit.
• Silent Confirmed Letter of Credit.
• Standby Letter of Credit.

Opening Date, Date of Expiry and Latest Date of Shipment (if available) are populated from the parent contract. Syndication Master Contract Expiry date is neither connected nor defaulted from the primary contract. It must be set manually by the user.

To open a Syndication Master Contract for an existing Export LC / Guarantee contract , SCTOPN transaction is used. This transaction creates a new Syndication Master. The Syndication Status is disabled and defaults to ‘Not Syndicated’.

In case for an existing Export LC, select it from the menu item [Export L/C -> Main-> Open Syndication Master].

(Users can directly start this transaction by clicking the  (Launch transaction ) available in the Panel headline without having to select the relevant menu) 

When you have made your changes, click on the ( )  Save function to save all the the data entered in the transaction to the database.