Return Settlement Date Derivation is the process of determining the settlement date for a returned payment, particularly in the context of cross-border payments or payment reversals.

• CBPRPlus:
  • Settlement Date Derivation
    • If the Original Transaction Value Date is back-dated, then the Settlement Date for the Return transaction is moved forward to the current date.
    • The Settlement Days value maintained in the Inbound BIC cutoff (for the Sender BIC/Transfer Currency or ALL BIC/Transfer Currency combination) is referred and the same is applied on the settlement date.
    • If the derived settlement date is a Currency holiday (for debit/credit currencies), then the date is moved to the next working day of currency.
  • Activation Date is the Booking Date (Return Date) itself.
  • The derived Settlement Date is populated in the return transaction during Enrich user action. Users are allowed to change the derived Settlement Date.
  • Validation is done on the Settlement Date to check:
    • If the settlement method of Original Transaction is Serial (that is, INDA/INGA), then the modified Settlement Date is less than the Original value date received in the incoming message.
    • If the settlement method of Original Transaction is Cover (that is, COVE), then the modified Settlement Date is less than the original Cover transaction settlement date received in the incoming message.
    • If the modified Settlement Date is less than the Original Value date, then Save operation is not allowed.
• TARGET2:
  • Settlement Date Derivation
    • Network Holidays (PMDNWHOL) maintenance allows the user to specify the working days and holidays for the year for the payment network.
    • System considers the Network Holidays (PMDNWHOL) maintenance for validating the Interbank Settlement Date.
    • If the Interbank Settlement Date provided is a holiday for a network, then an error message is displayed, and the user is forced to change the Interbank Settlement date to a working date for the network.
  • Activation Date is the Booking Date (Return Date) itself.
  • The derived Settlement Date is populated in the return transaction during Enrich user action. Users are allowed to change the derived Settlement Date.
  • Validation is done on the Settlement Date to check:
    • If the Settlement Date is less than the Original Value date, then Save operation is not allowed.