5.20.2 Authorize FX Payment Details

After entering the deal details, click Save to save the details. The system updates this as an unauthorized contract. Authorize a payment by clicking the Authorize icon on the Application toolbar.

You cannot authorize a contract from the Foreign Exchange Payment Input screen in the following cases:

• Contract has multilevel of authorization pending, the same will be done using the Multilevel Authorization Detailed screen.
• Level of authorization is greater than or equal to ‘N’.
• The ‘Nth’ or the final level of the users authorization limit is less than the difference between amount financed and sum of the limits of all the users involved in authorizing a transaction, this case holds good when the Cumulative field is checked in the Product Transaction Limits Maintenance screen.
• Transaction amount is greater than the authorizer’s authorization limit if the Cumulative field is unchecked in the Product Transaction Limits Maintenance screen.

Note:

When you save the manual payment details, the system will check whether the deal is a fixed NDF forward deal. Here, the bought amount or the sold amount needs to be the same as the contract bought or sold amount associated with the payment. Also, there should not be any outstanding balance after manual payment.

You cannot initiate partial payment for NDF forward deals. If you try to perform a partial payment for NDF forward deals, the system will display the following error.