BackupPaymentV07 (BckpPmt)

Scope

The BackupPayment message is sent by a member to the transaction administrator. It is used to request a liquidity transfer from the member to another participant in the system when the user is in recovery mode.

Usage

Under very specific circumstances, the transaction administrator can accept direct input of transactions as part of its cash management functionalities. This possibility is available only when a declared incident has been reported to the transaction administrator This could be the case, for example, when the internal systems of the member are having problems sending out payments or when the continuity of the whole system is put at risk. The purpose of the BackupPayment message is to prevent the consequences of a specific failure affecting not only the member experiencing problems but also its counterparties. Members can therefore input transactions directly in order to ensure the stability of the system and smooth exchanges. At any time during the operating hours of the system, and under the agreed circumstances, the member can request a backup payment to be effected. The member can request the transfer by identifying the following elements: - party (account owner) that will receive the funds - the financial institution that will receive the funds on behalf of the account owner Based on the criteria received within the BackupPayment message, the transaction administrator will execute or reject the requested funds transfer. The transaction administrator may send a Receipt message as a reply to the BackupPayment request. To verify the outcome of the request, the member may submit a GetTransaction or GetAccount message with the appropriate search criteria.

Outline

The BackupPaymentV07 MessageDefinition is composed of 8 MessageBuildingBlocks:

Message Header — Common business identification for the message.
Original Message Identification — Identifies the original message identification. This was formerly the PaymentInstructionReference.
Instruction Information — Provides details on the execution and type of payment contained in the instruction.
Transferred Amount — Quantity of cash that the transaction administrator transfers from one account to another.
Creditor — Party that receives an amount of money from the debtor.
Creditor Agent — Financial institution that receives the payment transaction on behalf of an account owner, or other nominated party, and credits the account.
Debtor Agent — Financial institution that receives the payment transaction from the account owner, or other authorised party, and processes the instruction.
Supplementary Data — Additional information that cannot be captured in the structured elements and/or any other specific block.