5.1.2 Split Settlements

1. On the Contract Input screen, click Split.

   The Split Settlement screen is displayed.

   Figure 5-23 Split Settlement

   
   Description of "Figure 5-23 Split Settlement"
2. From the displayed list, select a contract.
3. On the Split Settlement screen, under the Split Settlement Details, click the Plus symbol.

   A new row is added under Split Settlement Details as shown below.

   Figure 5-24 Split Settlement with a new row

   
   Description of "Figure 5-24 Split Settlement with a new row "

   Note:

   This process of splitting the settlements for a contract is allowed on the principal.
4. Choose the Account Currency, Account, and other necessary details, to create a split.
   • For every Settlement contract the system allows a maximum of twelve splits.
   • In case of auto-liquidation, you must unlock the contract and register the split, prior to auto-liquidation. SGEN is generated for each split amount. System will suffix the reference number in field 72(Sender to Receiver Information) of MT202 and MT202COV for the code ‘/BNF/’(Beneficiary). The format is “/BNF/ <16 Digit Contract Ref> -(hyphen) two digit running number of split / count of splits.
   • Only if split settlement details are available, system will process the transaction accordingly, else the payment/settlement is treated as a single payment transaction.
   • For a single component, you can split the settlement amount and use the same settlement account more than once. There is no restriction on the repetition of split settlement amount for the same NOSTRO/settlement account.
   • DV cross currency split settlement is not supported. System is validate with an error message when currency of the settlement account is different from contract currency.
   • User can give Split settlement details during contract booking and Amendment. The amounts tags are as follows:
     • On book: INLEG_PRN, and OUTLEG_PRN_LIQD
     • On amend: INLEG_PRN_AMIN/OUTLEG_PRN_AMDE
     New amount tag for amendment is picked up as basis amount tag (INLEG_PRN_AMIN/ OUTLEG_PRN_AMDE, INLEG_PRN, and OUTLEG_PRN_LIQD).
   • The Percentage of Proceeds column is a display-only field that is automatically computed by the system and displayed after save of the transaction.