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Repaying a Loan
Transaction TRTSET
This transaction settles an existing financing contract partially or for the full amount. For interim settlement, the user can select whether interest shall be capitalized, to be charged now or at maturity of the loan. If the loan has reached maturity, any outstanding interest must be settled.
In case of an amendment or a (partial) repayment of a loan, the following options are available via the combobox “Interest Option”:
- Settle until today - This is the default setting and the only available option in case of a complete repayment. The interest is calculated until the current date (today).
- Capitalize interest until today - Only the “Amount Repaid” is paid back. The already accrued interest is calculated until today and added to the credit. For this reason, the Amount Repaid of the credit is reduced by the interest accrued until today.
- Settle at due date - Interest will only be calculated, if the due date has been reached. If the due date has not been reached yet, only the “Amount Repaid” will be booked out.
- Capitalize interest and fees - Only the “Amount Repaid” is paid back. The already accrued interest is calculated until today and added to the credit. Already accrued fees which are stored in the fee pool are also added to the credit. For this reason, the Amount Repaid of the credit is reduced by the interest and fees accrued until today.
- Capitalize fees - No interest will be calculated, but the currently settled fees are added to the credit and interest has to be paid from now on.
- Settle interest first, then principal - From today on, interest will be charged. The “Amount Repaid” is the available amount from which the interest is paid first. In all other cases, the Amount Repaid is the amount, by which the credit is settled. Interest and costs can be debited additionally, as the case may be.
The contract is closed if the repayment is made in full; if only partially repaid, the contract remains open.
Requirements
An existing Loan contract which is open and not closed.
Loan may not be repaid in full.
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Transaction Control
Fees
In the event of full repayment, all fees not yet settled for the contract are transferred to the Settlement Panel and set to 'Settle immediately'.
Commissions
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
None
Updating/Storing of Amounts (CBS)
Liability (LIA)
The current liability is reduced by the repaid amount.
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 |
|---|---|---|---|---|---|---|
| Settlement of Financing | Financed Party | TRTFIP1 |
Release
Signature required
Transaction Panels
Settle
Past Due
Shipment Details
Interest Details
Liability
Settlement Details
Settlement
Bookings
Cash Cover
DTAEA Fields
DTALC Fields
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
Fee Conditions
DTAG Fields
Interest Details
Settle
Datafields
| Datafield | Description |
|---|---|
| Own Reference | cf Appendix A, Table TRD field OWNREF |
| Parent Reference | cf Appendix A, Table TRD field PNTREF |
| Provide Shipment Details | cf Appendix A, Table TRD field SHPFLG |
| % Financed | cf Appendix A, Table TRD field PCTFIN |
| Roll-Over Financing | cf Appendix A, Table TRD field ROLOVRFLG |
| 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 |
| Currency | cf Appendix A, Table CBB field CUR |
| Maximum Finance Amount | cf Appendix A, Table CBB field AMT |
| Currency | cf Appendix A, Table CBB field CUR |
| Open Finance Amount | This field contains the amount of the trust receipt loan yet to be settled. 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 |
| Name | cf Appendix A, Table PTS field NAM |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| Past Due Stage | cf Appendix A, Table TRD field PSTDUESTG |
| Document Amount to be settled | The document is reduced by the reduction amount. |
| Close Contract | Checking this box closes the current contract. |
Past Due
Datafields
| Datafield | Description |
|---|---|
| Past Due Date set in TRTLAT | cf Appendix A, Table TRD field PSTDUEDAT |
| Currency of Open Interest Amount | cf Appendix A, Table TRD field TRXCUR |
| Open Interest Amount | cf Appendix A, Table TRD field TRXAMT |
| Currency of Forwarded Refinancing Interest Amount | cf Appendix A, Table TRD field TRXRFBCUR |
| Forwarded Refinancing Interest Amount | cf Appendix A, Table TRD field TRXRFBAMT |
| Interest To Be Capitalized | cf Appendix A, Table TRD field INTCAPFLG |
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 |
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 |
| 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. |
| 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. |
| 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 |
Compliance
DTAG Fields
Interest Details
