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Settle Usance Documents at Maturity

Transaction BETSET

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”.

Adding Export Financing to the Issuing Bank (usance documents)

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”.

Loan Repayment

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.

Assignments

Detailed information on the processing of assignments can be found under: “Assignments”.

Requirements

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.

Incoming Messages

Channel	Description	MT	Description	Comment
S	SWIFT	756	Advice of Reimbursement/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'.

Fee Code	Set as Default	Units	from	until	Comment
BEFHAN	Yes	1	today	today

Commissions

Results of this Transaction

Diaries

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

Updating/Storing of Amounts (CBS)

Liability (LIA)

Reduce the liability for the deferred payment posted under the document set by the amount of the maturity settled.

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	DTA/DTE	BOL	Comment
Settlement of Documents (Credit)	Payer	BETPRB1		758	780	780	417
Settlement of Documents (Debit)	Presenter	BETISS1	754

Release

Signature required

Transaction Panels

Funds Settlement

Datafields

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.

Financing Details

Datafields

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

Overview

Advice of Discrepancy

Datafields

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

Advice of Payment

Datafields

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

Advice Details

Datafields

Datafield	Description
Maturity Period	cf Appendix A, Table BET field MATPER

allNETT Fields

Datafields

Datafield	Description
Negotiation Reference	cf Appendix A, Table BED field ANTNEGREF

Compliance

Interest Details

Datafields

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.

DTAG Fields

Shipment Details

Datafields

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

Documentation - DOKA-NG (Functional availability is per selected plan)

Table of Contents

Settle Usance Documents at Maturity