A Tracer message is used to enquire about the fate of documents sent for collection.
The Remitting bank sends the MT420 Tracer to the Collecting bank and request the drawee about the status of the advised documents. This may happen when the remitting bank, after receiving the MT410 Acknowledgement from the collecting bank, does not hear anything about the acceptance in the expected timeframe. Then the remitting bank could send a SWIFT MT420 Tracer to enquire about the documents sent for collection.
This message contains references assigned to the collection by both banks as well as the collection amount. The sender can optionally provide the Date of Collection Instruction, the drawee and the Sender to Receiver Information.
The 'tracer'(MT420) is used to ask the drawee about the status of the advised documents. Depending on the selected 'Type of Advice' and the receiver, the messages are sent accordingly.
In case 'Advice of Fate (MT422)' is selected, the query or answer text can be entered in the according text fields on the 'Advice Details' panel.
In DOKA, the transaction BCTTRA is used for Sending Tracer / Advice of Fate for collections.
Select it from the menu item[Import Products -> Import Collection -> Other -> Send Tracer/Advice of Fate].
(Users can directly start this transaction by clicking the (Launch transaction ) available in the Panel headline without
having to select the relevant menu)
When you have made your changes, click on the ( ) Save function to save all the the data entered in the transaction to the database.
Comments
0 comments
Please sign in to leave a comment.