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Help Party Model -Reimbursement Claim
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? |
|---|---|---|---|---|---|---|
| PRB | Presenter (PRB) | Y | B | 3 | ||
| ISS | Issuing Bank | Y | B | 3 | ||
| ACB | Acc. with Bank (ACB) | Y | B | 3 | M | |
| BEI | Benef.'s Institution | Y | B | 3 | M | |
| CLB | Claiming Bank | Y | B | 3 | ||
| OAP | Old Account Party | Y | B | Z |
Presenter (PRB)
The presenting bank sends the reimbursement claim (SWIFT MT 742) to the reimbursing bank. The presenting bank is either the claiming bank according to the reimbursement claim or another party.
Issuing Bank
The issuing bank is the bank that opens an L/C and authorizes a correspondence bank (reimbursing bank) to pay claims under this L/C (via SWIFT MT 740). The issuing bank has an account with the reimbursing bank in the L/C currency. The reimbursement bank does usually not know the L/C.
The reimbursement bank is the bank using the application.
Acc. with Bank (ACB)
The 'Account with Bank' is the correspondence bank of one of the parties. It is specified, if the bank using the application does not have a direct account relationship with the party.
Benef.'s Institution
The housebank of the beneficiary is entered here.
Claiming Bank
In the reimbursement claim (SWIFT MT 740), the issuing bank can define the claiming bank. In this case the claiming bank is stored under this party when registering the authorization to reimburse and can be selected as presenting party when entering a claim.
Old Account Party
This party is not a party to 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.
