4.1.3 Transaction Details Tab

This topic explains the transaction details tab of Policy Transaction-Switch Detail screen.

1. On the Policy Transaction-Switch Detail screen, click Transaction Details tab.
   The Transaction Details are displayed.

   Figure 4-4 Policy Transaction-Switch Detail_Transaction Details Tab

   
   

   
   Description of "Figure 4-4 Policy Transaction-Switch Detail_Transaction Details Tab"

   
   
2. On Transaction Details Tab, specify the fields.
   For more information on fields, refer to the field description below,

   Table 4-3 Transaction Details - Field Description

   Field	Description
   Transaction Details	This section displays the following details.
   Transaction Currency	Alphanumeric; 3 Characters; Mandatory If the switch is done in a currency other than the policy base currency, then you are required to specify the transaction currency. If you do not, then the system will default the base currency of the corresponding policy or plan from the Policy details record as the transaction currency.
   Currency Name	Display The system displays the currency name for the selected transaction currency.
   Transaction Date	Date Format; Mandatory Specify the date for the transaction. You can enter a backdated transaction here, if backdated transactions are allowed in the corresponding product. If backdated transactions are not allowed, then this date must not be earlier than the application date. The Transaction Date must be earlier than the End Date of the Policy, and must not be a holiday. The transaction date cannot be earlier than the first Rule Effective Date of the policy.
   Transaction Entry Date	Display The Transaction Entry Date signifies the date on which the transaction is entered into the system. By default, the application date is displayed in this field, and it cannot be altered.
   Transaction Amount	Numeric; 30 Characters; Mandatory if the Transaction Mode is Amount Specify the investment amount of the transaction. On saving amount based policy switch transactions, the system will compute the market value of policy across all funds. If the transaction amount is greater than the threshold limit of policy market value, the system will display the following error message Transaction amount exceeds threshold limit of the policy market value. Please use transaction mode as percentage - % to ensure guaranteed execution of transaction. You will then have to change the Transaction Mode to Percentage and indicate the percentage as 100% .
   Policy Base Currency	Display When the Policy is selected, the corresponding Plan (or Policy) Base Currency is displayed here from the policy details record. This currency cannot be changed at this stage.
   Transaction Mode	Mandatory Select the mode in which the transaction must be put through, from the drop-down list. Transactions can be put through either by amount, percentage and units of holdings. If you select the option Units then the system defaults the following fields: Transaction Amount and Percentage Holding field will be disabled and default amount will be zero.
   Portfolio Switch	Optional Select Yes to indicate the switch is a complete or partial switch transaction within the funds in which the investor as invested. Portfolio switch is applicable to both transaction put through by amount or by percentage of holdings.
   Percentage Holding	Numeric; 5 Characters;, Mandatory if Transaction Mode is ‘Percent’ If the specified Transaction Mode is Percentage of Holdings, then specify the percentage of the Policy Holder’s holdings that is to be reckoned as the transaction amount for this transaction. When you specify this percentage, the transaction amount is computed and displayed in the Transaction Amount field, and locked. The percentage you specify here must not exceed one hundred.
   Remarks	Alphanumeric, 255 Characters; Optional Enter a brief description of the transaction, or any applicable remarks about the transaction.
   Transaction Category	Alphanumeric; 1 Character; Optional Select the transaction category from the adjoining option list.
   Description	Display The system displays the description for the selected transaction category.
   Sub Type	Alphanumeric; 3 Characters; Mandatory Specify the sub type of transaction.
   Sub Type Description	Display The system displays the description for the selected sub type.
   Exchange Rate Details	The policy transaction currency can be different from the base currency of the policy. In this section, you can maintain the details related to the exchange rate to be used for currency conversion.
   Amount Applied	Display The amount calculated based on the exchange rate specified gets displayed here, after the calculation.
   Source ID	Alphanumeric; 6 Characters; Optional Specify the source from which the exchange rate is obtained or select the source ID from the option list provided.
   FX Deal Date	Date Format; Optional Specify the FX deal date.
   Exchange Rate Applied	Numeric; 15 Characters; Optional The exchange rate corresponding to the combination of policy base currency and policy transaction currency gets displayed here. The exchange rate for a switch transaction will be between policy base currency and transaction currency.
   Override Exchange Rate	Optional Select the option to indicate if you wish to override the exchange rate that gets defaulted. Select Yes to indicate that you wish to override the exchange rate and No to indicate otherwise.
   FX Value Date	Date Format; Optional Specify the FX value date.

3. Click the Enrich button to display the transaction details.