Amendment of a Syndication contract is associated with the amendment on the primary side (Advise an Amendment under Export LC, Amending of a Guarantee …..).When an MT707 (or MT767 etc.) message is received at the primary side and if the contract is connected with a Syndication, then the Syndication desk must be informed before the incoming MT707 is processed.

The Syndication Party may have to approve some of the amendment details before the transaction on the primary side (e.g. Export L/C Amendment, Guarantee etc.) is processed in the System. The reason for this is that the increase in the L/C amount will increase the Syndication Party’s share of risk and hence approval is required by the Syndication Party for the amendment to be processed on the primary side.

In such cases, a Liability Approval for Amendment (SDTAMR) transaction is created to get approval from the Account Manager of the Syndication Party. A manually updated Offer message for Amendment (Offer Syndication Amendment)  SDTRAM transaction can also be created and sent to the Syndicated Party.

The Syndication Party may also refuse the amendment, in such cases the amendment on the primary side is not stopped. If the amendment includes an increase on the primary liability and if the Syndication Party participates with percentage on all liabilities with ‘Applicable for all Liabilities’ flag set, then refusal of participation will generate a new percentage. 

The amendment can be processed on the primary side without the approval from the Syndication Party.

When the Amendment is processed on the primary side (For instance in case of Export LC Amendment Advise an Amendment(LETAME), in case of Guarantees Amendment Amending(GITAME) , etc.),
this will also trigger an Auto-registration for the Syndication Master Amendment (Amending) SCTAME transaction.
A checkbox 'Create Autoregistration for SCTAME' is available in the Amendment panel on the primary side that does the same when selected.

In the Syndication Master Amendment (Amending) transaction, a new combobox ‘Amendment Transaction’ is introduced in the Overview panel.

The next steps in the process flow are defined by the selection in this field. The user can select one of the below options:

• Liability Approval for Amendment (Liability Approval for Amendment) [SDTAMR]                                         When the Syndication Master Amendment transaction is saved, this will trigger an Auto-registration for the Liability Approval for Amendment transaction for all associated deals.

• Offer Syndication Amendment (Offer Syndication Amendment) [SDTRAM]
                    When the Syndication Master Amendment transaction is saved, this will trigger an Auto-registration for the Offer Syndication Amendment transaction for all associated deals.

• Amending (Amending) [SDTAME]
                   When the Syndication Master Amendment transaction is saved, this will trigger an Auto-registration for the Amending transaction for all associated deals.

• None of the above options
                  Once the Syndication Master Amendment transaction transaction is saved, this will trigger an Auto-registration for all associated Syndication Deals.