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 c ategory.
MAIN STEPS IN WORKING WITH BANK 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.