SettlementPriority

Indicates the priority with which or the system through which the agents in the payment chain will clear and settle the payment transaction.

IST requires the PriorityCode to contain one of two values: 
HIGH - Indicates a prioity level of high.
NORM - Indicates a priority level of normal

See http://www.openapplications.org/platform/1.

Element information

Content

• Sequence [1..1]
  1. Choice [1..1]
     • PaymentScheme [0..1]    Pre agreed offering between clearing agents or channel through which the payment instruction is to be processed. This payment scheme can point to a specific rulebook governing the rules of clearing and settlement between two parties.
     • PriorityCode [0..1]    Indicates the priority or urgency of the associated entity.
  2. UserArea [0..1]    Allows the user of OAGIS to extend the specification in order to provide additional information that is not captured in OAGIS.This is done by defining the additional information in XML Schema and referencing the new schema in the xml instance document through the use of namespaces. Once this is done the additional information defined there can be carried in the BOD XML instance document.The Open Applications Group will make best efforts to quickly consider all proposed submissions.The USERAREA is always the last element in all components, except where the component has been extended inline.

Attributes

None

Used in

• Type TransferAgreementType (Elements CreditTransferAgreement, DebitTransferAgreement)

Sample instance

<SettlementPriority>
   <PaymentScheme>
      <PaymentSchemeCode>normalizedString</PaymentSchemeCode>
      <UserArea>
         <!--any element-->
      </UserArea>
   </PaymentScheme>
   <UserArea>
      <!--any element-->
   </UserArea>
</SettlementPriority>