Why Approvals Exist

Why Approvals Exist

Understand the purpose and importance of approvals in Intain Markets

Overview

Approvals are quality gates that ensure transactions progress correctly while protecting all parties involved.

Platform Approval Points

1. Term Sheet Approval

Who Approves: Facility Agent

What Gets Approved: Term sheets proposing new credit facilities

Why It Exists:

      • Ensures facility terms meet requirements
      • Verifies borrower documentation is complete
      • Validates facility structure is feasible
      • Protects lenders by ensuring quality proposals

What Happens After:

      • Status changes to Accepted
      • Master commitment auto-created (Draft status)
      • FA can configure facility structure

2. Master Commitment Approval

Who Approves: Lender (via Approve & E-Sign)

What Gets Approved: Complete facility structure configured by FA

Why It Exists:

      • Ensures lenders agree to terms before activation
      • Creates formal commitment between parties
      • Validates lender participation amounts

What Happens After:

      • Status changes to Active (one lender approval activates)
      • FA can complete deal modelling
      • Borrower can create funding requests (after deal modelling)

3. Funding Request Approval

Who Approves: Facility Agent

What Gets Approved: Borrower's request to draw funds

Why It Exists:

      • Ensures request complies with facility rules
      • Verifies borrowing capacity
      • Validates documentation

What Happens After:

      • Status changes to APPROVED
      • Funding notice auto-generated (Pending Token Generated)
      • FA can approve and e-sign for lenders

4. Funding Notice Processing

Who Acts: Facility Agent, then Lenders

Process:

      1. FA clicks Approve on funding notice
      2. FA e-signs for each lender (E-sign 0/n → n/n)
      3. Each lender can see the notice once their e-sign is complete
      4. Lenders review, transfer funds, Confirm and Settle

Why It Exists:

      • Ensures proper authorization before lender visibility
      • Creates formal signed documents for each lender
      • Allows lenders to confirm fund transfers

5. Pool Mandate Acceptance

Who Approves: Market Maker (Accept button)

What Gets Approved: Pools submitted for deal structuring

Why It Exists:

      • Ensures market maker commits to structuring
      • Verifies pool meets requirements
      • Creates formal deal commitment

What Happens After:

      • Status changes to Deal
      • Pool is finalized
      • Market maker proceeds with structuring

Why Approvals Matter

Quality Control - Every approval ensures review before proceeding

Risk Management - Reviewers assess risk before commitment

Compliance - Approvals verify regulatory requirements are met

Accountability - All decisions are documented with who/when

Protection - Both submitters and reviewers are protected

Approval vs Change Request vs Rejection

  Action
  Outcome
  Approve
  Item proceeds to next stage
  Request Changes
  Item returns to submitter for modification
  Reject
  Item is finalized as rejected, cannot proceed



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