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Receiving Reimbursement Claim
Transaction RCTSET
In this transaction the reimbursement bank registers and settles a reimbursement claim. If a claiming bank (CLB) has already been entered when the contract is opened, but the claim is incurred with another bank (the presenting bank (PRB)), the “Claimed by” combobox is activated. The default value here is the claiming bank, but the presenting bank can be selected.
If necessary, the amount to be settled can exceed the amount open and still be settled, despite overdrawing funds.
There are several possible scenarios, whereby scenario 1 is defaulted as the most frequently used one. All other scenarios described lead to a subcontract (RC) being created, since the reimbursement claim cannot be settled immediately.
Receipt of a Reimbursement Claim before Expiry of Authorization
Scenario 1
An unconfirmed reimbursement claim is honored, if the issuing bank has sufficient funds. In such a case, the reimbursement claim is settled directly via the account of the issuing bank for the total amount claimed plus any reimbursing bank charges. The open amount is reduced by the amount claimed, the liability is reduced accordingly and the closing date of the contract set to today's date.
If the reimbursing bank has confirmed the reimbursement towards the claiming bank, any reimbursement claim must be honored.
Scenario 2
A received reimbursement claim cannot be honored if the issuing bank has insufficient cover on its account. This status is indicated on the “Claim” panel via a checkbox “Insufficient Funds”. If the checkbox is checked, the reimbursement claim remains outstanding, the open amount will be reduced but no settlement is done.
Receipt of a Reimbursement Claim after Expiry of Authorization
The checkbox “Underlying Article 7 of URR (Latest Version)” which has been checked in “Receiving a Reimbursement Authorization”, indicates which type of correspondence is sent out. 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).
Scenario 3
If the contract is subject to Article 7 of URR (latest version) (i.e. the checkbox is checked), an 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 In such a case, the issuing bank would have to inform the reimbursing bank that the authorization is no longer valid. If a reimbursement claim is received after expiry, a message is sent to the issuing bank (see also informationen about transaction “Receiving a Reimbursement Authorization)”.
Scenario 4
If the checkbox is unchecked (contract is not subject to Article 7 of URR), this means that the expiry date of the reimbursement authorization must be entered. Receipt of a reimbursement claim after expiry can only be honored after authorization from the issuing bank. A message is sent to the issuing bank, asking them for authorization.
Scenario 2 - 4 are only examples where a received claim is registered but not settled in this transaction. The claim is marked as 'pending' and can be settled at a later date via the transaction “Settling a Late Payment”.
Requirements
This transaction creates a new Reimbursement Claim contract.
If an existing Reimbursement Claim contract is used, it must have an open amount and may not be closed.
An existing Reimbursement contract which is open and not closed.
The number of utilizations must be less than 99.
Incoming Messages
| Channel | Description | MT | Description | Comment |
|---|---|---|---|---|
| S | SWIFT | 742 | Reimbursement Claim |
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Transaction Control
Fees
If the contract is settled in full, all fees not yet settled for the contract are transferred to the Settlement Panel and set to 'Settle immediately'.
| Fee Code | Set as Default | Units | from | until | Comment |
|---|---|---|---|---|---|
| ZZFHND | Yes | 1 | today | today | If fee not stored in pool. |
| ZZFHND | No | 0 | today | today | If fee stored in pool. |
Commissions
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
| Action | Description | Diary | Follow-up Transaction | Comment |
|---|---|---|---|---|
| Replace | Funds Received/Payment o.k.? | Today + 5 Working Days | Receiving Reimbursement Claim | If Settlement is temporary. |
| Replace | Funds Received? | Today + 5 Working Days | Settling a Late Payment | If “Insufficient Funds” checked and “Confirmed by us” not 'No' |
| Completed | If “Insufficient Funds” not checked and “Confirmed by us” = 'No'. and “Open Amount” not equal to “Tot. Amount Claimed” and Settlement is temporary. |
|||
| Create | Extension of Authorization Received? | Today + 4 Working Days | Settling a Late Payment | If “Expiry Date” lower then “Date of Claim”. |
Updating/Storing of Amounts (CBS)
The open amount of the reimbursement is reduced by the amount of the reimbursement claim.
Liability (LIA)
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 | Presenter | RCTCLB1 | If the checkbox “Insufficient Fund” is checked. | |||
| Acknowledgment | Presenter | RCTCLB2 | If the checkbox “Other Non-Payment” is checked. | |||
| Notice of Non-Conforming Reimbursement Claim | Presenter | RCTCLB3 | 744 | If the checkboxes “Other Non-Payment” and “Send MT744” are checked. | ||
| Debit Adv./Request Cover/Payment | Issuing Bank | RCTISS1 |
Release
Signature required
Transaction Panels
Claim
Overview
Received Claim
Liability
Settlement Details
Settlement
Bookings
Cash Cover
DTAEA Fields
DTALC Fields
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
Fee Conditions
DTAG Fields
Claim
Datafields
| Datafield | Description |
|---|---|
| Own Reference | cf Appendix A, Table RMD field OWNREF |
| Currency | cf Appendix A, Table CBB field CUR |
| Nominal Reimbursement 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 |
| Available by | cf Appendix A, Table RMD field AVBBY |
| Opening Date | cf Appendix A, Table RMD field OPNDAT |
| Contract Underlying Article 7 of URR (Latest Version) | cf Appendix A, Table RCD field ERAFLG |
| Date of Expiry | cf Appendix A, Table RMD field EXPDAT |
| Place of Expiry | cf Appendix A, Table RMD field EXPPLC |
| 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 |
| Own Reference | cf Appendix A, Table RCD field OWNREF |
| Currency Total Amount Claimed | cf Appendix A, Table RCD field TOTCUR |
| Total Amount Claimed | cf Appendix A, Table RCD field TOTAMT |
| 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. |
| Document Amount to be settled | The document is reduced by the reduction amount. |
| Opening Date | cf Appendix A, Table RCD field OPNDAT |
| Close Contract | Checking this box closes the current contract. |
| Reason for Rejection | cf Appendix A, Table RCT field RESREC |
| Reason for Non-Payment | cf Appendix A, Table RCD field NPAREA |
| Details about Reason of Non-Payment | cf Appendix A, Table RCD field NPAREATXT |
| Disposal of Reimbursement Claim | cf Appendix A, Table RCD field DISPOS |
| Disposal of Reimbursement Claim | cf Appendix A, Table RCD field DISPOSTXT |
| Claimed by | cf Appendix A, Table RCD field DOCPRBROL |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
Overview
Received Claim
Datafields
| Datafield | Description |
|---|---|
| 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 |
| Additional Amount | cf Appendix A, Table CBB field AMT |
| Charges | cf Appendix A, Table RCT field CHADET |
| 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 |
Compliance
DTAG Fields
