1. Book Transfer User Guide
  2. Book Transfer
  3. Cancellation Processing
  4. Non-Dispatched/ Unprocessed Payments

Non-Dispatched/ Unprocessed Payments

Transaction Status – Future Valued
  • If the transaction status is in ‘Future Valued’ – in ‘Warehouse Queue’, then the cancellation processing is done as below.
    • Transaction is moved out of Warehouse queue and transaction cancellation processing is initiated.
    • Cancellation status of Cancellation request is marked as ‘Cancelled’.

    Note:

    As per the current cancellation processing, Sanction check is done on cancellation of a transaction from Future Valued queue based on Sanctions preferences.
Transaction Status – Exception
  • If the transaction status is ‘Exception’, then whether the transaction is in an Internal queue (or) not is checked.
  • If the transaction is in an Internal exception queue and queue authorization status is authorized, then the following actions are taken on the transaction:
    • Transaction is moved out of the internal queue
    • Cancellation processing for the transaction is initiated
    • Cancellation status of Cancellation request is marked as ‘Cancelled’
    • ECA Reversal Request is sent out if ECA Check was applicable and transaction is in Network Cutoff queue
    • FX Reversal Request is sent out if External Exchange Rate was applicable and transaction is in Network Cutoff queue
    • FX Unwind request is logged if FX Reference is present
  • List of internal queues considered are:
    • Settlement Review
    • Transaction
    • Repair
    • Processing Exception
    • Business Override
    • Authorization Limit 1
    • Authorization Limit 2
    • Processing Cutoff
    • Exchange Rate
    • Network Cutoff
  • If the transaction is in an Internal exception queue and the last queue action authorization status is ‘Unauthorized’, then based on the user action cancellation processing happens
    User Action System Action
    Delete System checks if any cancellation request is pending for the transaction. If any cancellation request is found, then the following actions are taken on the transaction.
    • Transaction is moved out of the internal queue
    • Cancellation processing for the transaction is initiated
    • Cancellation Status
    • Cancellation request is marked as ‘Cancelled’
    • ECA Reversal request is sent out if ECA check was applicable
    • FX Reversal Request is sent out if External Exchange rate was applicable
    • FX Unwind Request is logged if FX reference is present
    Authorize No changes are done to the existing processing. In case, the transaction is moving out the queue, the cancellation request check introduced in key processing steps does the cancellation processing.
  • List of internal queues that will be considered:
    • Settlement Review
    • Transaction Repair
    • Processing Exception
    • Business Override
    • Processing Cutoff
    • Exchange Rate
    • Network Cutoff
  • If the transaction is in any external queue [Sanction Check, ECA, External Exchange Rate, External Pricing], then the cancellation processing is done once the transaction is out of the external queue.
  • The cancellation request check introduced in key processing steps of outbound transaction processing does cancellation as mentioned below.
    Processing Step System Action
    Before Sanctions Check
    1. Cancellation processing for the transaction is initiated.
    2. Cancellation status of Cancellation request is marked as ‘Cancelled’.
    Before ECA Check
    1. Cancellation processing for the transaction is initiated.
    2. Cancellation status of Cancellation request is marked as ‘Cancelled’.
    3. FX Cancellation Request message is sent to External system if External exchange rate was applicable.
    Before Accounting
    1. Cancellation processing for the transaction is initiated.
    2. Cancellation status of Cancellation request is marked as ‘Cancelled’.
    3. FX Cancellation Request message is sent to External system if External exchange rate was applicable.
    4. ECA Reversal Request will be sent out.
    Before Dispatch / Message generation
    1. Cancellation processing for the transaction is initiated.
    2. Cancellation status of Cancellation request is marked as ‘Cancelled’.
    3. Reversal accounting entries is sent to accounting system.
  • In the external queues, certain queue actions are not allowed, and additional processing is done for few actions if a cancellation request is found for a transaction.
    User Action System Action Queues
    Carry Forward This action is not allowed. An error message is shown to user that a cancellation request is registered for the transaction. Sanctions Check, ECA, Exchange Rate
    Cancel Additional processing is done. Cancellation status is marked as ‘Exception’. Error Code & Error reason is captured. Sanctions Check, ECA, Exchange Rate, External Pricing

Parent topic: Cancellation Processing