5.1.5 Payment Details Tab

This topic explains the Payment details tab of Policy Transaction-Surrender Detail screen.

1. On Policy Transaction-Surrender Detail screen, click Payment Details tab to capture the details of payments made to the Policy Holder towards processing of the transaction in this tab.
   The Payment Details are displayed.

   Figure 5-6 Policy Transaction-Surrender Detail_Payment Details Tab

   
   

   
   Description of "Figure 5-6 Policy Transaction-Surrender Detail_Payment Details Tab"

   
   
2. On Payment Details tab, specify the fields.
   For more information on fields, refer to the field description table.

   Table 5-5 Payment Details - Field Description

   Field	Description
   Payment Details	This section displays the following details.
   Payment Mode	Optional Select the mode through which the payment is made to the Policy Holder or Product. The following are the options available: Cash Cheque Money Transfer Demand Draft Note: Though the above mentioned options are available, for a Surrender Transaction, the acceptable Mode of Payment is Money Transfer. The system will not allow you to save a Surrender Transaction with any Mode of Payment other than Money Transfer.
   Clearing Date	Date Format, Optional Specify the clearing date of the payment.
   Beneficiary Details	This section displays the following details.
   Payment Type	Mandatory Specify the type of payment. Following are the options available: Self Beneficiary Product Third Party Garnishee Note: The payment types Beneficiary, Third Party and Product are applicable only if the payment mode is chosen as Money Transfer. The payment type must be set to Product if the type of transaction is Balance transfer out.
   Product ID/ Beneficiary ID/ Garnishee ID	Alphanumeric; 12 Characters; Optional Select the product, beneficiary or Garnishee ID. Alternatively, you can select these ID from the option list. The system displays all valid Product/ Beneficiary/ Garnishee ID maintained in the system. On selecting a valid Garnishee ID in the Product/Beneficiary/Garnishee ID, the system will populate the bank details from the Garnishee details maintained at Policy Level.
   Branch Code	Alphanumeric; 12 Characters; Optional Select the branch code from the option list.
   Branch Name	Display The system displays the name of the selected branch code.
   Ratio	Numeric; 5 Characters; Optional Specify the ratio of payment to be made in the specified payment mode. If the Mode of Payment is specified as Cheque or as Demand Draft, you will have to specify the following:
   Check Number	Alphanumeric; 16 Characters; Optional Enter the cheque number of the cheque /draft number of the demand draft by which the payment is being made.
   Cheque Date	Date Format, Optional Enter the cheque date of the cheque /draft number of the demand draft by which the payment is being made.
   Bank	Alphanumeric; 12 Characters; Optional Select the Drawee Bank from the option list.
   Bank Name	Display The system displays the name of the bank.
   IBAN	Alphanumeric; 40 Characters; Optional Specify the International Bank Account Number (IBAN) of the account holder.
   Contact Name	Alphanumeric; 100 Characters; Optional Enter the name of the contact person.
   Account Holder Name	Alphanumeric; 100 Characters; Optional Specify the account holder name.
   Account Type	Alphanumeric; 1 Characters; Optional Select the account type of account.
   Address Line1 and Line 2	Alphanumeric, 255 Characters; Optional Specify the address of the third party for which the transfer payment must be made.
   Account Number	Alphanumeric; 20 Characters; Optional Specify the number of the transfer account.
   Account Currency	Alphanumeric; 3 Characters; Optional Specify the transaction currency. For surrender transactions, account currency of garnishee should be same as Policy base currency.
   Identification Number	Alphanumeric; 50 Characters; Optional Enter the identification number assigned to the third party.