Maturities are special records to the Documentary Records, through which the user can define oncoming or pending payments for a documentary operation. They are helpful tools in the hands of the bank expert to plan the work on a Documentary Record but they have no restrictive function - a maturity record can not prevent or cause an automatic payment or other kind of financial operation. Maturity records in BINETIX PTM can be assigned to three types of actions: a.Payment of a fixed amount; b.Deferred payment on partial or full amount; c.Payment of recurring fee. For each maturity record,specified amount and maturity date must be indicated. The System does not place limitations on the entered date (current, future or past) because practice sometimes requires records be created to a Documentary Record for information or awareness. BINETIX PTM System provides opportunities for active control over maturity records through which a documentary expert can monitor for upcoming and missed events as well as mark maturities for completed. The diagram shows the typical transitions between maturity conditions. Newly created maturities are marked in status "Registered". Several practical scenarios for using the maturity management functionality of Documentary Records are addressed in the description below: ▪The way of working through Documentary Record screens is described; ▪There is an example of automated creation of maturity record when filling in a "Payment order"; ▪The main functionality of the "Maturity Dates planner", called "Maturity planner", is presented. |
Maturity Diary