Establishing Documentation Tracking Systems
This is an area of growing importance with regulators and internal audit teams given their renewed focus on risk management following the global banking crisis.
The need to establish a tracking system arises where a party new to the market eventually establishes a critical mass of master agreement documentation and wishes to set up a database describing key elements (often credit related elements) in that documentation.
It would also be necessary where a party has taken over another company with a large number of master agreements and need to decide which one is to prevail where they both have the same counterparty. They may wish to consolidate these in one database covering the elements it considers most important to the enlarged group.
In addition, this type of project would also cover a negotiation tracking system where a party wishes to see the up to date status of master agreement negotiations it is undertaking with its counterparties.
Establishing Documentation Tracking Systems enables you to keep your finger on the pulse both with completed documentation and ongoing negotiations.