This transaction is used to settle maturities posted to an export document set. If several maturities have been posted to the document set, the system automatically proposes the next due maturity for settlement.
The contract is closed when the amount settled actually matches the open amount. If a document set comprises several maturities, the contract is only closed when the last maturity is settled.
The “Free of Payment” checkbox determines whether the documents are to be settled value-free, or not. Checking the checkbox means that the documents are settled immediately and without payment. Detailed information on this booking procedure can be found under “Free of Payment”.
Loans to the issuing bank can be created by checking the “Create Financing” checkbox on the “Settling Funds” panel. Financing details can be entered on the relevant panel.
Further information can be found under “Loan”.
The “Bills to Pay Back” table on the “Settling funds” panel lists the amounts of advances or loans that still have to be repaid. If a packing credit is to be repaid, a warning is issued, indicating that this is to be settled separately.
Detailed information on the processing of assignments can be found under: “Assignments”.
An existing Export L/C Usance Document Set contract which is open and not closed.
The contract must have been taken up and documents must have been presented to applicant side.
Channel | Description | MT | Description | Comment |
---|---|---|---|---|
S | SWIFT | 756 | Advice of Reimbursement/Payment |
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
All fees not yet settled for the contract are transfered to the Settlement Panel and set to 'Settle now'.
Fee Code | Set as Default | Units | from | until | Comment |
---|---|---|---|---|---|
BEFHAN | Yes | 1 | today | today |
For more information see TRNDIA Diaries.
Action | Description | Diary | Follow-up Transaction | Comment |
---|---|---|---|---|
Create | Repayment Notice of “Finance Type (e.g. Export Loan)” | Maturity Date - 1 working day | Repaying a Loan | If “Create Finance” is filled |
Create | Past Due of “Finance Type (e.g. Export Loan)” | Contract is at the Past Due stage (Maturity + Grace days if any) | Past Due Loan | If “Create Finance” is filled |
Reduce the liability for the deferred payment posted under the document set by the amount of the maturity settled.
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 | DTA/DTE | BOL | Comment |
---|---|---|---|---|---|---|---|---|
Settlement of Documents (Credit) | Payer | BETPRB1 | 758 | 780 | 780 | 417 | ||
Settlement of Documents (Debit) | Presenter | BETISS1 | 754 |
Signature required
Funds Settlement
Financing Details
Overview
Advice of Discrepancy
Advice of Payment
Advice Details
allNETT Fields
Assignment
Participation Sold
Liability
Settlement Details
Settlement
Bookings
Cash Cover
DTAEA Fields
DTALC Fields
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
Interest Details
Fee Conditions
DTAG Fields
Shipment Details
Interest Details
Datafield | Description |
---|---|
Own Reference | cf Appendix A, Table BED field OWNREF |
Own Reference | cf Appendix A, Table LED 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 |
Document Type | cf Appendix A, Table BED field DOCTYPCOD |
Maturity Date | cf Appendix A, Table BED field MATDAT |
Date of Receipt of Documents | cf Appendix A, Table BED field RCVDAT |
Presentation Date | cf Appendix A, Table BED field PREDAT |
Document Set Status | cf Appendix A, Table BED field DOCSTA |
Currency | cf Appendix A, Table CBB field CUR |
Open Amount | This field contains the amount which is still available under the letter of credit. cf Appendix A, Table CBB field AMT |
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 |
Name | cf Appendix A, Table PTS field NAM |
Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
Close Contract | Checking this box closes the current contract. |
Free Of Payment | cf Appendix A, Table BED field FREPAYFLG |
Book out Peak Amount | A “peak amount” is understood to be the remaining liability balance under a Letter of Credit that remains unutilized after payment of documents. The checkbox “Book out Peak Amount” can be activated when documents are taken up. If set, the application checks the contract for other pending document sets and calculates the liability amount which should be booked out under the Letter of Credit. The calculation of the amount is displayed in the warnings for the user. |
Close L/C | Checking this box closes the Letter of Credit. |
Reduction Amount | This amount can be part of the document amount and reduces the settlement amount. |
Document Amount to be settled | The document is reduced by the reduction amount. |
Currency | cf Appendix A, Table CBB field CUR |
Document Amount Part | This field contains the document amount portion of the document set. Together with the content of the field “Additional Amount Part”, the settlement amount is calculated. |
Additional Amount Part | This field contains the additional amount portion of the document set. Together with the content of the field “Document Amount Part”, the settlement amount is calculated. |
Datafield | Description |
---|---|
Own Reference | cf Appendix A, Table TRD field OWNREF |
Parent Reference | cf Appendix A, Table TRD field PNTREF |
Responsible User | cf Appendix A, Table TRD field OWNUSR |
Date Issued | cf Appendix A, Table TRD field ISSDAT |
Type of Financing | cf Appendix A, Table TRD field FINTYP |
Special type of financing | cf Appendix A, Table TRD field FINSUBTYP |
Type of risk | cf Appendix A, Table TRD field FINRSKTYP |
Recourse Flag | cf Appendix A, Table TRD field FINRECFLG |
% Financed | cf Appendix A, Table TRD field PCTFIN |
Currency | cf Appendix A, Table CBB field CUR |
Maximum Finance Amount | cf Appendix A, Table CBB field AMT |
Start Date Tenor | cf Appendix A, Table TRD field STTTENDAT |
Maturity Date | cf Appendix A, Table TRD field MATDAT |
Financing period | cf Appendix A, Table TRD field INTDAY |
Roll-Over Financing | cf Appendix A, Table TRD field ROLOVRFLG |
Base Rate | cf Appendix A, Table TRD field IRTCOD |
Cash Base | cf Appendix A, Table TRD field CSHRAT |
Liquidity costs | cf Appendix A, Table TRD field LQDRAT |
Our margin | cf Appendix A, Table TRD field OWNRAT |
Fixed price for total maturity | Alternative fixed amount for the total term to maturity. (instead of an interest rate for 'Our margin') |
Total interest rate | Sum of interest costs + liquidity costs + our margin The total interest rate used to calculate the commission. |
Interest Start Date | cf Appendix A, Table TRD field BEGINTDAT |
Interest Due Date | cf Appendix A, Table TRD field ENDINTDAT |
Grace Days | cf Appendix A, Table TRD field GRADAY |
Surcharge Applied to Interest Rate | cf Appendix A, Table TRD field INTRAT |
draft serial number | cf Appendix A, Table TRD field DRWVOCNUM |
Pay supplier | cf Appendix A, Table TRD field PAYSUPFLG |
Bill/ Usance Start Date | cf Appendix A, Table TRD field BACUSADAT |
Standard tenor | cf Appendix A, Table TRD field BACSTDTEN |
Currency of the financed amount | cf Appendix A, Table TRD field FINCUR |
Financed amount (bankers acceptance) | cf Appendix A, Table TRD field FINAMT |
Draw down method for ECR | cf Appendix A, Table TRD field ECRMET |
Transport Document Date | cf Appendix A, Table TRD field ECRTRDDAT |
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 |
Information Finance Party | cf Appendix A, Table TRT field INFPTY |
Goods Code (for Statistics) | cf Appendix A, Table TRD field STAGOD |
Provide Shipment Details | cf Appendix A, Table TRD field SHPFLG |
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 |
Datafield | Description |
---|---|
Additional Amount | cf Appendix A, Table CBB field AMT |
Charges Deducted | cf Appendix A, Table BET field CHADED |
Charges Added | cf Appendix A, Table BET field CHAADD |
Currency of Total Amount to be Paid | cf Appendix A, Table BED field TOTCUR |
Total Amount to be Paid | cf Appendix A, Table BED field TOTAMT |
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 |
Discrepancies | cf Appendix A, Table BET field DOCDIS |
Discrepancies Modified | cf Appendix A, Table BET field DOCDISFLG |
Datafield | Description |
---|---|
Date to be Paid | cf Appendix A, Table BED field TOTDAT |
Narrative (TAG 77A of Incoming MT754) | cf Appendix A, Table BET field NARTXT77A |
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 |
Datafield | Description |
---|---|
Roll-Over Financing | cf Appendix A, Table TRD field ROLOVRFLG |
Cash Base | cf Appendix A, Table TRD field CSHRAT |
Liquidity costs | cf Appendix A, Table TRD field LQDRAT |
Our margin | cf Appendix A, Table TRD field OWNRAT |
Pastdue Margin | cf Appendix A, Table TRD field PDURAT |
Interest Start Date | cf Appendix A, Table TRD field BEGINTDAT |
Interest Due Date | cf Appendix A, Table TRD field ENDINTDAT |
Grace Days | cf Appendix A, Table TRD field GRADAY |
Pastdue Margin | cf Appendix A, Table TRD field PDURAT |
Pastdue Total Interest rate | Sum of ('Cash Base' + 'Liquidity Cost' + 'Past Due Margin'). The Total Interest rate used to calculate Past due commission. |
Datafield | Description |
---|---|
Shipment from | cf Appendix A, Table TRD field SHPFRO |
Port of Loading | cf Appendix A, Table TRD field PORLOA |
Port of Discharge | cf Appendix A, Table TRD field PORDIS |
For Transportation to | cf Appendix A, Table TRD field SHPTO |
Transport Document Type | cf Appendix A, Table TRD field TRPDOCTYP |
Transport Document Number | cf Appendix A, Table TRD field TRPDOCNUM |
Date of Transport Document | cf Appendix A, Table TRD field TRADAT |
Mode of Transport | cf Appendix A, Table TRD field TRAMOD |
Vessel Name | cf Appendix A, Table TRT field VESNAM |
Identification of Goods | cf Appendix A, Table TRT field ROGGOD |
Incoterm Version | cf Appendix A, Table TRD field INCTRMVER |
Incoterm Code | cf Appendix A, Table TRD field INCTRMCOD |