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Settle Usance Documents at Maturity
Transaction BOTSET
This transaction is run on the due date of usance documents to settle amounts relating to an export collection. This transaction pays the exporter funds that the collecting bank has remitted.
If the contract is paid in full and closed, the closing date is set to today's date. The collection is deemed paid in full when the final maturity has been settled. If there are several due dates, the maturity to be settled can be selected. The system automatically proposes the next maturity due for settlement.
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”.
For Clean Collections:
The amount paid under reserve must reduce the credit amount to the instructing party and the under reserve liability must be reduced by the same amount. Normally the amount under reserve is equal to the value of the payment document. Thus, if amount under reserve has been paid, and if the drawee has actually paid the full amount required, there is no more credit owing to the drawer.
If the amount under reserve is higher than the funds received from the collecting bank, i.e. collecting bank has not paid the full value of the collection; then no amount is to be credited to the instructing party and the under reserve liability can only be reduced by the amount received. This difference is settled by a subsequent receipt of funds or a rejection.
Requirements
An existing Export Collection contract which is not closed.
The contract must have open maturities.
Incoming Messages
| Channel | Description | MT | Description | Comment |
|---|---|---|---|---|
| S | SWIFT | 400 | Advice of Payment |
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Transaction Control
Fees
All fees not yet settled for the contract are transfered to the Settlement Panel and set to 'Settle now'.
Commissions
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
| Action | Description | Diary | Follow-up Transaction | Comment |
|---|---|---|---|---|
| Completed | Diaries that have been generated in transaction “Processing Discrepant Documents” (BOTDCR), “Accept and Settle Documents” (BOTPAY) or “Settle Usance Documents at Maturity” (BOTSET) will be deleted. | |||
| Replace | Rejecting remaining funds? | Today + 5 Working Days | Sending Tracer / Advice of Fate | If “Document Amount” not equal to “Amount Settled” |
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.
| Name of Message | Receiver | Message ID | SWIFT | TCO | Comment |
|---|---|---|---|---|---|
| Advice to Debit Party | Collecting Bank/Drawee | BOTCOL1 | |||
| Advice of Payment (Credit Party) | Remitting Bank/Drawer | BOTDRR1 | T54 |
Release
Source in Transaction
Transaction Panels
Funds Settlement
Instructions
Shipping Details
allNETT Fields
Parties
Received Instructions
Overview
Liability
Settlement Details
Settlement
Bookings
Cash Cover
DTAEA Fields
DTALC Fields
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
Fee Conditions
DTAG Fields
Funds Settlement
Datafields
| Datafield | Description |
|---|---|
| Days/Months or Years for Maturity Period | cf Appendix A, Table BOD field MATPERTYP |
| Own Reference | cf Appendix A, Table BOD field OWNREF |
| Currency | cf Appendix A, Table CBB field CUR |
| Collection Amount | cf Appendix A, Table CBB field AMT |
| Currency | cf Appendix A, Table CBB field CUR |
| Open Collection Amount | This field contains the amount which has not been paid under the collection. cf Appendix A, Table CBB field AMT |
| Collection Condition | cf Appendix A, Table BOD field DOCTYPCOD |
| Document Set Status | cf Appendix A, Table BOD field DOCSTA |
| Number of Days/Months for Maturity Period | cf Appendix A, Table BOD field MATPERCNT |
| Start of Maturity Period | cf Appendix A, Table BOD field MATPERBEG |
| Date of Receipt of Documents | cf Appendix A, Table BOD field RCVDAT |
| Presentation Date | cf Appendix A, Table BOD field PREDAT |
| 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 |
| Free of Payment | cf Appendix A, Table BOD field FOCFLG |
| Reduction Amount | This amount can be part of the document amount and reduces the settlement amount. |
| Close Contract | Checking this box closes the current contract. |
Instructions
Datafields
| Datafield | Description |
|---|---|
| Collection Instructions | cf Appendix A, Table BOT field COLINS |
| Delivery of Documents Instructions modified | cf Appendix A, Table BOT field COLINSFLG |
| Draft Instructions | cf Appendix A, Table BOT field DFTINS |
| Protest Instructions | cf Appendix A, Table BOT field PROINS |
| Other Instructions | cf Appendix A, Table BOT field OTHINS |
| ALADI Checkbox | cf Appendix A, Table BOD field ALADIFLG |
| ALADI Reimb. Code | cf Appendix A, Table BOD field ALADICOD |
| Fee settlement - our fee to be debited to | cf Appendix A, Table BOD field CHATO |
| Charges Text | cf Appendix A, Table BOT field CHGTXT |
| Waive Collecting Bank Charges | cf Appendix A, Table BOD field WAICOLCOD |
| Waive Remitting Bank Charges | cf Appendix A, Table BOD field WAIRMTCOD |
| Defer Payment Until | cf Appendix A, Table BOD field OTHINS |
| 2nd Mail Date | If documents are to be presented in a second mailing, this field contains the date of the second mail. |
| Receiver of Second Mail | cf Appendix A, Table BOD field MSGROL |
| 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 |
Shipping Details
Datafields
| Datafield | Description |
|---|---|
| Transport Document Type | cf Appendix A, Table BOD field TRPDOCTYP |
| Transport Document No. | cf Appendix A, Table BOD field TRPDOCNUM |
| Date of Transport Document | cf Appendix A, Table BOD field TRADAT |
| Mode of Transport | cf Appendix A, Table BOD field TRAMOD |
| Name of Vessel | cf Appendix A, Table BOT field VESSELNAM |
| Shipment from | cf Appendix A, Table BOD field SHPFRO |
| For Transportation to | cf Appendix A, Table BOD field SHPTO |
| Goods Description | cf Appendix A, Table BOT field GODDES |
allNETT Fields
Datafields
| Datafield | Description |
|---|---|
| Send Documents via | cf Appendix A, Table BOD field ANTSNDBY |
| If Draft is Accepted | cf Appendix A, Table BOD field ANTDFTACP |
| Protest in case of Non-Payment | cf Appendix A, Table BOD field ANTPTSPAY |
| Protest in case of Non-Acceptance | cf Appendix A, Table BOD field ANTPTSACP |
| Keep documents at no charge | cf Appendix A, Table BOD field ANTDOCCHG |
| Store goods | cf Appendix A, Table BOD field ANTSTOGOD |
| In case of need refer to | cf Appendix A, Table BOT field ANTAGTDET |
| Instuctionauthorization | cf Appendix A, Table BOD field ANTAGTINS |
| Collect Interest from Drawee | cf Appendix A, Table BOD field ANTCOLINT |
| incoming allNETT Account Details | cf Appendix A, Table BOT field INCACCDET |
| Interest Rate | cf Appendix A, Table BOD field ANTINTRAT |
| Interest Start Date | cf Appendix A, Table BOD field ANTINTDAT |
| In case refused | cf Appendix A, Table BOD field ANTINTREF |
Parties
Datafields
| Datafield | Description |
|---|---|
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| 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 |
| 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 |
Received Instructions
Datafields
| Datafield | Description |
|---|---|
| Interest Instructions | cf Appendix A, Table BOT field INTINS |
| Payment Information | cf Appendix A, Table BOT field SETINSBO |
| Authority of Agent | cf Appendix A, Table BOT field AGTAUT |
| Date of Shipment | cf Appendix A, Table BOD field SHPDAT |
Overview
Datafields
| Datafield | Description |
|---|---|
| Responsible User | cf Appendix A, Table BOD field OWNUSR |
| Direct Collection | cf Appendix A, Table BOD field DIRCOLFLG |
| Direct rejection | cf Appendix A, Table BOD field REJFLG |
| Applicable Rule Checkbox | cf Appendix A, Table BOD field APPRULFLG |
| Reserved Contract | cf Appendix A, Table BOD field RESFLG |
| Date of Advice of Documents Received | cf Appendix A, Table BOD field ADVDAT |
| Maturity Date | cf Appendix A, Table BOD field MATDAT |
| BO Tenor Details | cf Appendix A, Table BOT field BOGDET |
| Copies in 1st Mail | This field contains the number of documents in figures to be sent with the first mail. If documents are to be sent with one mail only, insert the total number of each document in this column. |
| Copies in 2nd Mail | This field contains the number of documents to be sent by second mail (if any) |
| Document Description | This field contains the kind of document to be mentioned in the document specification. Either select a document from the selection list or enter the document manually. |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Country Code (Risk Country) | cf Appendix A, Table BOD field STACTY |
| Goods Code (for Statistics) | cf Appendix A, Table BOD field STAGOD |
Compliance
DTAG Fields
