Our client did not have the internal legal capacity to accommodate the growth of different business functions and in particular, a planned expansion of a particular trading desk which would require ISDA master agreements, credit support annexes alongside GMRAs and GMSLAs to be put in place. Whilst increased capacity was needed, it was unclear as to the length of time the lead-in period would be and a general reluctance to increase overall fixed costs. However, this needed balanced with the need to meet business needs and satisfy service level demands.

The board made a decision to near-shore as it was possible for the near-shore team to work closely with the existing documentation team and have face-to-face meetings when required. By doing so, this would give access to a larger team that could be utilised as the need arose and so any spikes in negotiations and requirements could be effectively and easily managed. Internal processes were developed alongside DLC and weekly performance updating was established in line with existing processes.

This has allowed the existing documentation team to provide an efficient and pro-active service to business teams with a positive economic benefit to the client as a whole.