When the document sets are received under the Import Collections , further handling is done in the below ways,
- To only send the documents without settling that have been presented and checked.
- To send and settle the received documents at the same time.
In case of Sight Collection, when the documents are accepted and the settlement is triggered at that point of time. When the document sets are fully paid without any remaining balance the contract is closed.
In case of Usance Collection, the documents are accepted in this transaction (BCTPAY) ,
but a final settlement at maturity takes place in the transaction 'Settle Usance Documents at Maturity' (BCTSUS).
Queries and rejections are processed through the transaction 'Rejecting Documents' (BCTDOR).
The 'Free of Payment' checkbox determines whether the documents are to be settled value-free, or not. Checking the checkbox means that the documents are settled immediately without payment.
For Sight Collection documents, Import Loans are provided to the drawee by checking the 'Create Financing' checkbox on the 'Settle BC' panel. Financing details can be entered on the relevant panel.
Financing options for Usance Collections documents are added using the 'Settle Usance Documents at Maturity' transaction.
To Accept and Settle Documents for an existing Import Collection contract, BCTPAY transaction is used.
Select it from the menu item[Import Products -> Import Collection -> Main -> Accept and Settle Docs].
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.