Due Customer adjustments can be initiated as a result of an FX contract "Sell Back" transaction. When initiating a Due Customer adjustment from the FX Contracts Summary Form, some fields on this form are automatically populated and protected from input.
On the CitiDirect navigation bar, click Purchase FX for Payments. The Purchase FX for Payments Summary Form appears.
Click the View Contracts Tab.
Select a contract with an available balance and funded status, and then click Sell Back. The Payments Detail Form appears. Note: Contracts with a "+" sign next to them contain underlying sub-contracts. In this case, first click Go to Details, then select the underlying sub-contract and click Sell Back.
Credit Account Number/Currency/Name is automatically populated based on the selected FX contract.
Adjustment Currency/Amount is automatically populated based on the selected FX contract.
Payment Method is automatically populated with Due Customer Adjustment.
In the Transaction Reference Number field, enter the transaction reference number if needed. Note: A complete or partial Transaction Reference Number may be system-generated if specified in Client Preferences.
In the Adjustment Option field, click the drop-down arrow and select Refund or Apply to Remit. Note: If the Preferred Adjustment Option is set in Client Configuration, this field is automatically populated and protected from input.
The Confidential field is available if selected in My Preferences. If you want to indicate that this is a confidential payment, select this check box. Note: Access to confidential payments is determined by your Access Profile.
Credit Party Account Number is automatically populated based on the selected FX contract.
In the Credit Party Name/Address field, click the Library Look-Up button and select a credit party. To view all information in this fields, click the multiple line button.
The Credit Party Country Code/Name defaults to Client Configuration settings. If you want to change the default, click the Library Look-Up button and select a country code.
Credit Currency/Amount fields are automatically populated based on the selected FX contract.
The Value Date field defaults to a system-generated date. If you want to change the default, enter a different value date. Click here for information on Value Dates.
In the Credit Party Bank Routing Method/Code field, click the Library Look-Up button and select a routing method. Note: This field is not available when Adjustment Option is Apply to Remit.
In the Credit Party Bank Name/Address field, click the Library Look-Up button and select a bank name. Note: This field is not available when Adjustment Option is Apply to Remit.
In the Credit Party Bank Country Code/Name field, click the Library Look-Up button and select a country code. Note: This field is not available when Adjustment Option is Apply to Remit.
In the Payment Details field, enter any additional details you want to include with the payment. To view all information in this field, click the multiple line button. Note: This field is not available when Adjustment Option is Apply to Remit.
In the First Intermediary Bank Routing Method/Code field, click the Library Look-Up button and select a routing method. Note: This field is not available when Adjustment Option is Apply to Remit.
In the First Intermediary Bank Name/Address field, click the Library Look-Up button and select a bank. Note: This field is not available when Adjustment Option is Apply to Remit.
The First Intermediary Bank Country Code/Name field is automatically populated when First Intermediary Bank Name is filled using the Library Look-Up. If this field is not populated or you want to change it, click the Library Look-Up button and select a country code. Note: This field is not available when Adjustment Option is Apply to Remit.
Click Submit to save and submit the payment for validation. The payment moves to the next step in the payment process as defined by Flow Control requirements.
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