C1-RECONVAL

This algorithm is invoked when the status of the reconciliation is changed to Pending Reconciliation. It validates the following before the pay instructions are reconciled:

• The reconciliation is associated with the payor account against which the payment is made.

• At least one pay instruction exists in the reconciliation.

• The reconciliation is associated with a payment which is in the Frozen status.

• The payment amount is equal to the total payment instruction amount.