Notice Withdrawal
Notice Withdrawal is a transaction (soft) property class which is used to capture, modify or cancel notice request to withdraw funds from a notice account.
Product Lines
The following Product Lines use the Notice Withdrawal Property Class:
- Accounts
- Deposits
Property Class type
The Notice Withdrawal Property Class uses the following Property Class types:
- Dated
- Transaction
Property Type
There is no associated property type with this property class.
Balance Prefix and Suffix
The following balance prefix and suffix are associated with this property class.
- AVL<ACCOUNT>
- AVL<ACCOUNT>BL
The AVL balance type enables the user to clearly distinguish how much is Available for Withdrawal from the entire account balance.
In addition, the following accounting takes place to create the Available for Withdrawal contingent balance.
| Cr AVL<ACCOUNT> | Dr AVL<ACCOUNT>BL |
On Notice Cancellation or Expiry, the following accounting happens.
| Dr AVL<ACCOUNT> | Cr AVL<ACCOUNT>BL |
Attributes
Certain types of accounts and deposits require notice for withdrawing funds from the account or deposit and can be identified by defining the Notice Account field in the Balance Availability property class. The Notice Withdrawal Transaction class provides the ability to initiate and maintain notice withdrawal requests.
Bill Id
Displays the bill ID of the notice request that is to be modified or cancelled during the change or cancel notice activity in a notice arrangement.
Notice Amount
Specifies the amount the customer intends to withdraw and is mandatory except for Payoff.
Available Start Date
Specifies the date from which the Notice Amount is made available for withdrawal and is mandatory.
- Auto-populated as the sum of Effective date of the Capture Notice Activity and the Notice Period configured in the Balance Availability property class.
- Available Start Date can be modified to a future date. Any date lesser than the sum of the effective date and Notice Period is validated based on the negotiation rules.
Available Expiry Date
Specifies the date until which the Notice Amount is available for withdrawal.
Auto-populated as the sum of Available Start Date and Notice Availability configured in the Balance Availability property class.
Notice Type
Specifies the type of capture notice. The following are the options:
- Blank/Withdrawal Notice – Default option used for capturing regular withdrawal notices.
- Closure Notice – Used for capturing notice provided for closure of notice account/deposit. The user is not allowed to enter any value in the Notice Amount field when this option is chosen.
Notice Reference
Specifies a unique reference to the notice withdrawal bill that is used to identify a modified or cancelled notice bill during the reverse and replay process. This field is a no input field and the system auto-populates it during notice capture. However, during Change and Cancel Notice activities, the user can input this field with the respective system generated notice reference to get the details of the original captured notice.
The value populated in this field is stored in the AA.BILL.DETAILS application under the Notice Reference field.
Periodic Attribute Classes
The following is the periodic attribute class associated with this property class.
CLOSURE.NOTICE – To check if the closure notice is available for the arrangement
Actions
The Property Class supports the following actions:
|
Action name |
Description |
|---|---|
|
CAPTURE ACTION |
Capture action for notice withdrawal |
|
CHANGE ACTION |
Change action for notice withdrawal |
|
CANCEL ACTION |
Cancel action for notice withdrawal |
Accounting Events
The Notice Withdrawal Property Class does not perform any actions that generate accounting events.
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