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Help Table of Contents
Settling Funds
Transaction BTTSET
This transaction is used to settle a maturity posted to a document set in a Transfer L/C on the due date.
If the contract is closed by being paid in full, the closing date of the contract is set at today's date. The contract is only held to be paid in full when the last maturity is settled. If several due dates have been posted to the document set, the system automatically proposes the next due maturity 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”.
Adding Import Financing to the Issuing Bank of an Export L/C (usance documents)
To add a loan on usuance documents check 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”.
Assignments
Detailed information on the processing of assignments can be found under: “Assignments”.
Requirements
An existing usance set of documents under a Transfer L/C, which is open, already accepted and not closed.
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Transaction Control
Fees
All fees not yet settled for the contract are transferred to the Settlement Panel and set to 'Settle now'.
| Fee Code | Set as Default | Units | from | until | Comment |
|---|---|---|---|---|---|
| LTFHAN | Yes | 1 | today | today | |
| BTFDIS | Yes | 1 | today | today | If 'Discrepancies' filled. |
Commissions
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
None
Updating/Storing of Amounts (CBS)
Liability (LIA)
The defered payment obligation is reduced by the amount of the maturity now being 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.
Assignments messages and messages concerning Participations Sold (Syndications) will be created.
| Name of Message | Receiver | Message ID | SWIFT | TCO | DTA/DTE | Comment |
|---|---|---|---|---|---|---|
| Credit Advice | Presenter on 1st Beneficiary Side | BTTBE11 | ||||
| Debit advice | Payer | BTTPAY1 | ||||
| Credit Advice | Presenter | BTTPRB1 | ||||
| Advice of Paym./Accep./Negot. | Payer | BTTISS1 | 754 | If Checkbox “Generate MT 754” on Panel “Funds Settlement” is checked. |
Release
Signature required
Transaction Panels
Funds Settlement
Financing Details
Interest Details
Liability
Assignment
Participation Sold
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
Funds Settlement
Datafields
| Datafield | Description |
|---|---|
| Own Reference | cf Appendix A, Table BTD field OWNREF |
| Own Reference | cf Appendix A, Table LTD 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 |
| Additional Amount | If this box is checked, additional amounts are available under the contract and an additional panel is available to enter details. |
| Currency | cf Appendix A, Table CBB field CUR |
| Open Amount | cf Appendix A, Table CBB field AMT |
| Document Type | cf Appendix A, Table BTD field DOCTYPCOD |
| Date of Receipt 2nd Beneficiary | cf Appendix A, Table BTD field RCVDATBE2 |
| Date of Receipt 1st Beneficiary | cf Appendix A, Table BTD field RCVDATBE1 |
| 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 |
| Document Set Status | cf Appendix A, Table BTD field DOCSTA |
| Document Amount to be settled | The document is reduced by the reduction amount. |
| Amount for 1st ben. | This field contains the amount to be settled under the selected set of documents which is due to the first beneficiary. |
| Close Contract | Checking this box closes the current contract. |
| Free of Payment | cf Appendix A, Table BTD field FREPAYFLG |
| Reduction Amount | This amount can be part of the document amount and reduces the settlement 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 |
Interest Details
Datafields
| Datafield | Description |
|---|---|
| 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. |
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 |
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 |
