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BINETIX NETWORK

Bank Collections are managed through PTM's Unified Documentary Records.

The Bank Collections in the System are categorized in received and sent. Also the System maintains a separate Register of Documentary Records for each category.


MAIN STEPS IN WORKING WITH BANK COLLECTIONS

 

ptm_intro_collections

 

(the chart refers to material of BINETIX LLC for Management of Bank Collections published in the end of year 2014)

 

RECEIVED BANK COLLECTIONS:

In PTM, the following Orders can be issued to Documentary Records for received Bank Collections:

1)Order for advising - serves in advising of documents on received Bank Collections and for creation of a new Documentary Record;

2)Order for closing - serves for early closure of the Bank Collections and execution of off balance accounting operations;

3)Order for change - serves to change of instructions on a received Bank Collections to your organization's branch network;

4)Order for payment - applies when making payments on received Bank Collections, closing of a Documentary Record and execution of off balance accounting operations;

5)Order for fees - serves to manually perform accounting of fees and expenses in the processing of a Documentary Record;

6)Order for instructions - serves to exchange documents and notes between the branch network and the Headquarters.


SENT BANK COLLECTIONS:        

In PTM, the following Orders can be issued to Documentary Records for sent Bank Collections:

1)Order for Issuing - applies when sending documents and for creation of a new Documentary Record;

2)Order for change - serves to change of instructions on a sent Bank Collections;

3)Order for payment - applies when ordering partial or full payments on an issued Collection;

4)Order for fees - serves to manually perform accounting of fees and expenses in the processing of a Documentary Record;

5)Order for instructions - serves to exchange documents and notes between the branch network and the Headquarters.

 

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