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Receiving a Reimbursement Authorization
Transaction RMTOPN
This transaction is used to register the receipt of a reimbursement authorization from a bank issuing the L/C. A reimbursement authorization is mainly sent by the issuing bank to the reimbursing bank as a SWIFT MT 740.
On the “Overview” Panel, a checkbox determines whether the contract is subject to Article 7 of the Uniform Rules of Bank-to-Bank Reimbursements under Documentary Credits or not. The information is stored in the database and is available for reimbursement claims. The checkbox can only be checked, if the option “URR Latest Version” is set in combobox “Applicable Rules” (in this case the checkbox will be checked automatically).
If the checkbox is unchecked (contract is not subject to Article 7 of URR (Latest Version)), the expiry date of the reimbursement authorization must be considered. Receipt of a reimbursement claim after expiry can only be honored after authorization from the issuing bank.
If the checkbox is checked (contract is subject to Article 7 of URR (Latest Version)), the expiry date must not be considered, as the reimbursement instructions are still valid, even after the expiry date has passed. In such a case, the issuing bank would have to inform the reimbursing bank that the authorization is no longer valid. On receipt of a claim after expiry, however, as a precaution an inquiry is sent to the issuing bank (cf. information under the transaction “Receiving Reimbursement Claim”).
The “Confirmed by us” field shows the current status of the confirmation according to which the internal booking entries are made. It shows whether a confirmation is in hand or not. If a silent confirmation is in hand (which is not to be communicated externally), this status will be shown here as well (details under “Confirmations”).
Requirements
This transaction creates a new Reimbursement contract.
If an existing Reimbursement contract is used, it may not be open or closed.
Incoming Messages
| Channel | Description | MT | Description | Comment |
|---|---|---|---|---|
| S | SWIFT | 740 | Authorization to Reimburse |
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Transaction Control
Fees
None
Commissions
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
| Action | Description | Diary | Follow-up transaction | Comment |
|---|---|---|---|---|
| Completed | Diary that was created to follow up the receipt of the authorization is set to done | |||
| Replace | Undertaking expired (Reimbursement) | L/C Expires on | Closing (RMTCAN) | if “Validity” filled. |
| Replace | Not Article 7 URR, Reimb. Auth. expired | L/C Expires on | Closing (RMTCAN) | If “Validity” not filled and “L/C Expires on” filled and “Contract subject to Article 7 of URR (Latest version)” not checked |
| Replace | Authorization expired (Reimbursement) | L/C Expires on + 10 Working Days | Closing (RMTCAN) | If “Validity” not filled and “L/C Expires on” filled and “Contract subject to Article 7 of URR (Latest version)” checked |
| Replace | Authorization to reimburse expired? | Today + 90 Days | Common Messages (RMTFRE) | If “Validity” not filled and “L/C Expires on” not filled |
Updating/Storing of Amounts (CBS)
Liability (LIA)
The liability is posted depending on the status of the confirmation.
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 | DTA/DTE | Comment |
|---|---|---|---|---|---|---|
| Acknowledgment of receipt | Issuing bank | RMTISS1 | 730 | |||
| Reimbursement Advice | Claiming Bank | RMTCLB1 |
Release
Signature required
Transaction Panels
Overview
Additional Amount
Details
Parties
Liability
Settlement Details
Settlement
Bookings
Cash Cover
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
DTAEA Fields
DTALC Fields
Fee Conditions
DTAG Fields
Overview
Datafields
| Datafield | Description |
|---|---|
| Own Reference | cf Appendix A, Table RMD field OWNREF |
| Responsible User | cf Appendix A, Table RMD field OWNUSR |
| Reserved Contract | cf Appendix A, Table RMD field RESFLG |
| Currency | cf Appendix A, Table CBB field CUR |
| Nominal Reimbursement Amount | cf Appendix A, Table CBB field AMT |
| Direct rejection | cf Appendix A, Table RMD field REJFLG |
| Additional Amount | If this box is checked, additional amounts are available under the contract and an additional panel is available to enter details. |
| Amount Specification | cf Appendix A, Table RMD field NOMSPC |
| Amount Tolerance - Positive | cf Appendix A, Table RMD field NOMTOP |
| Amount Tolerance - Negative | cf Appendix A, Table RMD field NOMTON |
| Currency | cf Appendix A, Table CBB field CUR |
| Maximum Reimbursement Amount | cf Appendix A, Table CBB field AMT |
| Opening Date | cf Appendix A, Table RMD field OPNDAT |
| Date of Expiry | cf Appendix A, Table RMD field EXPDAT |
| Place of Expiry | cf Appendix A, Table RMD field EXPPLC |
| Contract Underlying Article 7 of URR (Latest Version) | cf Appendix A, Table RMD field ERAFLG |
