This specification provides the definition of the Extended payment order message (PAYEXT) to be used in Electronic Data Interchange (EDI) between trading partners involved in administration, commerce and transport.
1.1 Functional definition
An Extended Payment Order is sent by the Ordering Customer (or Payor or Agent on behalf of the Ordering Customer) to the Ordered Bank, to instruct the Ordered Bank to debit an account it services for the Ordering Customer, and to arrange for the payment of a specified amount to the Beneficiary (or Payee or Agent in favour of Beneficiary) in settlement of the referenced business transaction(s), and to provide to the Payee full details of the transactions to which the Extended Payment Order relates.
Throughout this document, the term 'Ordering Customer' refers to either an Ordering Customer, or a Payor or Agent acting on behalf of the Ordering Customer; likewise the term 'Beneficiary' refers to either a Beneficiary, or a Payee or Agent acting on behalf of the Beneficiary.
1.2 Field of application
The Extended payment order message may be used for both national and international applications. It is based on universal practice related to administration, commerce and transport, and is not dependent on the type of business or industry.
This message may be applied for both national and international settlements.
An Extended Payment Order may cover the financial settlement of one or more commercial trade transactions, such as invoices, credit notes, debit notes, etc. It is not intended for use in securities trading.
The Ordered Bank may need a confirmation/ authorization to be able to process the Extended Payment Order Message.
See UNTDID, Part 4, Chapter 2.3 UN/ECE UNSM - General Introduction, Section 1.
3. TERMS AND DEFINITIONS
3.1 Standard terms and definitions
See UNTDID, Part 4, Chapter 2.3 UN/ECE UNSM - General Introduction, Section 2.
4. MESSAGE DEFINITION
4.1 Data segment clarification
This section should be read in conjunction with the segment table which indicates mandatory, conditional and repeating requirements.