Manikandan Narayanan
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Articles
Recent activity by Manikandan Narayanan-
Transferring the Issuing Bank in Reimbursement Contract
'Transferring the Issuing Bank' is used to replace the Issuing Bank of the contract including the necessary rebooking of liability. The Liability is booked out of the account of the Old party and w...
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Liability Adjustment under Reimbursement
The 'Liability Adjustment' is to adjust the internal entries on the Liability Panel for the Reimbursement contracts. The 'Booking Amount' field changes the Liability amount without creation of new ...
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Editing References in Reimbursement Contract
The system allows the user only to add or modify the reference numbers of the parties through this transaction. This further allows to change the responsible user and an info text or settlement ins...
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Amending under Reimbursement
Each respective amendment transaction is auto registered in all amendment requesting transactions. After receiving approval, the registered process can be taken up and the actual change can be carr...
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Request of Amendment under Reimbursement
This transaction is used to forward a detrimental amendment to the claiming bank. The concept 'detrimental' includes all amendments that change a contract. The 'Request of Amendment' panel provide...
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Internal Amendment under Reimbursement
The confirmation instruction can be received from the issuing bank later than the reimbursement authorization (For instance at the time of Receiving a Reimbursement Authorization transaction, the ...
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Receiving a Reimbursement Authorization
An issuing bank ('ISS') may send a reimbursement authorization to an account correspondent (reimbursement bank 'RMB'). This is a message that authorizes the reimbursement bank to honor claims for p...
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Pre-Opening a Reimbursement Authorization
There is a possibility that the reimbursement claim is received before the actual reimbursement authorization. This transaction can be used to send a message to the issuing bank and request for aut...
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Participants in Reimbursement
The following are the most common Participants in a Reimbursement Transaction, Authorizing Bank: This is the Issuing Bank, which issued a Letter of Credit and authorized the Reimbursing Bank to ho...
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Reimbursing Bank and its Function
Reimbursing Bank Reimbursing bank means the bank instructed or authorized to provide reimbursement to pay, or accept and pay time draft pursuant to a reimbursement authorization issued by the issui...