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Help Party Model -Advance
Depending on the type of advance the parties of the parent contract are used in the advance contract:
| Type of Advance | Parent Contract | Advanced Party (FIA) | Invoice Party (INV) |
|---|---|---|---|
| Discount Purchase Invoice Advance Forfaiting Other Bankers Acceptance ECR Financing | None | Free selection of a database address | Free selection/ entry of a database address |
| All of above except Invoice Advance | Import Collection (BC) | Remitting Bank (RMI) / Drawer (DRR) | Invoice Party (INV) = Drawee (DRE) |
| All of above except Invoice Advance | Export Collection (BO) | Drawer (DRR) | Invoice Party (INV) = Collecting Bank (COL) if present |
| All of above except Invoice Advance | Import Documents (BR) | Presenter (PRB) of Import Documents | Invoice Party (INV) = Applicant (APL) of the Import L/C |
| All of above except Invoice Advance | Export Documents (BE) | Presenter (PRB), e.g. Beneficiary | Invoice Party (INV) = Issuing Bank (ISS) of the Export L/C |
| All of above except Invoice Advance | Transfer Documents (BT) | Presenter (PRP) of Transfer Documents on First Beneficiary Side | Invoice Party (INV) = Issuing Bank (ISS) of the Export L/C, Further Advanced Party = Presenter (PRB) of Transfer Documents on Second Beneficiary Side |
Parties
| Role | Description | Usage as temporary address allowed? | Address Type | Stoplevel | Automatic copy of address from database contract allowed? | Only main address to be used? |
|---|---|---|---|---|---|---|
| FIA | Advanced Party | 3 | ||||
| INV | Invoice Party | Y | 3 | |||
| OAP | Old Account Party | Z | ||||
| FI2 | Advanced 2nd Ben. | 3 | ||||
| OA2 | Old Adv. 2nd Ben. | 3 | ||||
| BEF | Final Beneficiary | Y | 3 | |||
| PYM | Repayment Party | Y | 3 |
additionally
| Role | Description | Usage as temporary address allowed? | Address Type | Stoplevel | Automatic copy of address from database contract allowed? | Only main address to be used? |
|---|---|---|---|---|---|---|
| BU1 - BU3 | Buyer | Y | 3 | M | ||
| IN1 - IN5 | Further Invoice Parties | Y | 3 | M | ||
| TP0 - TP9 | Third parties | Y | 3 | M |
Advanced Party
The advanced party is the beneficiary of an advance. This is the applicant of the advance/discount/purchase and the beneficiary of the holding transaction, e.g. the presenter of the export L/C documents or the drawer (exporter) of a collection.
The advanced party is copied from a holding transaction and will automatically be used as advanced party.
Invoice Party
The invoice party is the party who has to pay the advanced party an outstanding amount.
Old Account Party
This party is not a party of the underlying foreign trade transaction.
This is required for internal operations of the application in order to secure the correct booking of liabilities, should the liability party be changed
Advanced 2nd Ben.
The further advanced party is defaulted through the related parent contract, e.g. the presenting party of the transfer documents on second beneficiary side.
Old Adv. 2nd Ben.
This party is not a party of the underlying foreign trade transaction.
It is required for internal operations of the application in order to secure the correct booking of the liabilities, should the liability party be changed.
Final Beneficiary
This party is an optional beneficiary of the advance, in case the advanced party is not the beneficiary of the advance, e.g. if the advanced party wants to credit proceeds to its daughter company.
Repayment Party
Buyer (BU1 - BU3)
Recipient of the goods/services.
Further Invoice Parties (IN1 - IN5)
The invoice party is the party who has to pay the advanced party an outstanding amount.
The further Invoce Parties are used for bankers acceptances
Third parties(TP0 - TP9)
Parties that are not captured anywhere else, can be captured as third parties in the application. Outgoing messages can be sent to these parties. Such third parties can be captured in the “Additional Parties” field on the “Parties” panel.
