Table of Contents
Paying a Claim
Transaction GITSET
This transaction is used to settle a claim under a guarantee and to authorize the respective payment.
Payment under Cancelation of Guarantee
This checkbox can be used to close the superordinated guarantee contract once the utilization has been settled. Assuming that no further open utilizations are registered, the checkbox is enabled and the guarantee and utilization are both closed, if the checkbox is checked.
Syndications
Furthermore, syndications can be handled on the homonymous panel. Detailed information about syndications can be found under “Participations Sold (Syndications)”.
Assignments
Detailed information on the processing of assignments can be found under “Assignments”.
Requirements
An existing Guarantee contract which is open and not closed.
An existing Guarantee Claim contract which is not closed.
The open amount may not be zero.
Incoming Messages
| Channel | Description | MT | Description | Comment |
|---|---|---|---|---|
| G | DTA Guarantees | G09 | Reply to Extend or Pay | |
| S | SWIFT | 752 | Authorization to Pay/Accept/Neg | |
| S | SWIFT | 756 | Advice of Reimbursement/Payment | |
| S | SWIFT | 778 | Response to extend or pay Guarantee/Standby Index (Customer To Bank) | |
| T | TradeConnect | G09 | Reply to Extend or Pay |
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Transaction Control
Fees
None
Commissions
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
| Action | Description | Diary | Follow-up Transaction | Comment |
|---|---|---|---|---|
| Completed | The diaries 'Guarantee underlies URDG758: Payment, refusal or suspension of claim?' and 'Guarantee/ Standby LC Extension' that were set in transaction Receiving a Request of a Claim are set to done |
Updating/Storing of Amounts (CBS)
Liability (LIA)
Outgoing Correspondence
Details on creation of messages can be found under DOCEOT Messages. For outgoing allNETT / RIVO messages see Overview of Outgoing messages - allNETT / RIVO.
Assignment Messages and messages concerning Participations Sold (Syndications) will be created.
| Name of Message | Receiver | Message ID | SWIFT | SWIFT Score | TCO | DTG | Bolero | Comment |
|---|---|---|---|---|---|---|---|---|
| Settlement (only Score) | Applicant/ Accountee/ other paying party | GITAPL9 | 781 | only if message is sent via Score | ||||
| Debit Advice of Claim | Applicant/ Accountee/ other paying party | GITAPL1 | 769, 754 | 766<769> | T69/G07 | G07 | 407 | if “Form of Undertaking” = 'Standby letter of credit', then MT754 is sent. |
| Advice of Release | Applicant | GITAPL2 | 769, 754 | If “Form of Undertaking” ='Standby letter of credit', then MT754 is sent. | ||||
| Payment of Claim | Selected Party in Presented by | GITBEN1 | ||||||
| Advice of Discharge | Selected Party in Presented by | GITPRB1 | 732 | 731<732> | ||||
| Reimbursement Claim | Reimbursement Bank | GITRMR1 | 742 | If Reimbursement Bank is set and only for “Purpose codes” ADVI or ACNF |
Release
Signature required
Transaction Panels
Claim Payment
Overview
Direct Payment
Reimbursement Claim
Advice of Payment
Assignment
allNETT Fields
DTAEA Fields
DTALC Fields
DTAG Fields
Liability
Participation Sold
Settlement Details
Settlement
Bookings
Cash Cover
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
Fee Conditions
Claim Payment
Datafields
| Datafield | Description |
|---|---|
| Own Reference | cf Appendix A, Table GCD field OWNREF |
| Own Reference | cf Appendix A, Table GID field OWNREF |
| Currency | cf Appendix A, Table CBB field CUR |
| Maximum Amount | cf Appendix A, Table CBB field AMT |
| Currency | cf Appendix A, Table CBB field CUR |
| Open Amount | cf Appendix A, Table CBB field AMT |
| Currency | cf Appendix A, Table CBB field CUR |
| Open Guarantee Amount | This is the open guarantee amount. cf Appendix A, Table CBB field AMT |
| Undertaking Type | cf Appendix A, Table GID field GARTYP |
| Expiry until | cf Appendix A, Table GID field EXPDAT |
| Expiry Type | cf Appendix A, Table GID field EXPTYP |
| Liability Type - Local Undertaking Seq. C | cf Appendix A, Table GID field LIATYPC |
| Liable until | cf Appendix A, Table GID field LIADAT |
| Name | cf Appendix A, Table PTS field NAM |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| Name | cf Appendix A, Table PTS field NAM |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| Date of Claim | cf Appendix A, Table GCD field CLMDAT |
| Currency | cf Appendix A, Table CBB field CUR |
| Additional Amount | cf Appendix A, Table CBB field AMT |
| Amount | cf Appendix A, Table CBB field AMT |
| Currency | cf Appendix A, Table CBB field CUR |
| Payment under Cancelation of Guarantee | cf Appendix A, Table GCD field CANNOWFLG |
| Close Contract | Checking this box closes the current contract. |
| Date of Reduction or Release | cf Appendix A, Table GID field REDDAT |
| Presented by | cf Appendix A, Table GCD field DOCPRBROL |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
Overview
Datafields
Direct Payment
Datafields
| Datafield | Description |
|---|---|
| Currency | cf Appendix A, Table CBB field CUR |
| Currency | cf Appendix A, Table CBB field CUR |
| Amount | cf Appendix A, Table CBB field AMT |
| Currency | cf Appendix A, Table CBB field CUR |
| Amount | cf Appendix A, Table CBB field AMT |
| Maximum Guarantee Amount | This field contains the nominal amount of the undertaking. cf Appendix A, Table CBB field AMT |
| Reinstatement Principle Amount | cf Appendix A, Table GID field DIPREIFLG1 |
| Reinstatement Interest Amount | cf Appendix A, Table GID field DIPREIFLG3 |
| Reinstatement Days | cf Appendix A, Table GID field DIPREIDAY |
| Payment Date | cf Appendix A, Table GCD field PAYDAT |
| Reinstatement Principle Amount | cf Appendix A, Table GCD field DIPREIFLG1 |
| Reinstatement Interest Amount | cf Appendix A, Table GCD field DIPREIFLG3 |
| Reinstatement Days | cf Appendix A, Table GCD field DIPREIDAY |
Reimbursement Claim
Datafields
| Datafield | Description |
|---|---|
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
Advice of Payment
allNETT Fields
Datafields
DTAG Fields
Compliance
