TimeOutNotificationV03 (TmOutNtfctn)

Scope

The TimeOutNotification message is sent by the matching application to a party involved in a transaction. This message is used to inform that a transaction will be closed within a given span of time if no action is taken.

Usage

The TimeOutNotification message can be sent by the matching application to inform the parties that a transaction will be closed within a given span of time if no action is taken by either party because - no activity for the transaction has taken place within a specified span of time,or - a significant date is reached, for example latest shipment date.

Outline

The TimeOutNotificationV03 MessageDefinition is composed of 7 MessageBuildingBlocks:

Notification Identification — Identifies the notification message.
Transaction Identification — Unique identification assigned by the matching application to the transaction. This identification is to be used in any communication between the parties.
Established Baseline Identification — Unique identification assigned by the matching application to the baseline when it is established.
Transaction Status — Identifies the status of the transaction by means of a code.
User Transaction Reference — Reference to the transaction for each financial institution which is a party to the transaction.
Time Out Description — Describes the time-out consequences.
Request For Action — Information on the next processing step required.