Once an Export Collection has been approved, the Remitting Bank or Financier may need to record its acceptance along with details such as the maturity date, applicable fees, deductions, interest, and supporting documents.

RIVO’s Accept action allows Remitting Bank and Financier users to capture this information directly within the Export Collection, maintaining a clear record of the acceptance as part of the transaction lifecycle.

Accepting an Export Collection

When an Export Collection reaches the Approved state, the Accept option becomes available to the Remitting Bank or Financier user.

                                             

Selecting Accept opens the acceptance flow, where users can review the existing collection information and provide the relevant acceptance details.

Key transaction information, such as the drawer reference, remitting and collecting banks, amount, and currency, is automatically displayed for reference.

Recording Acceptance Details

Users can provide the Maturity Date and capture any financial adjustments associated with the acceptance.

Under Deductions, users can record applicable bank fees and other charges deducted from the collection amount.

Under Additions, users can capture interest or other additional charges associated with the collection.

For deal-specific adjustments, users can add individual deduction or addition entries with a description and amount. Up to five deductions and five additional charges can be recorded.

All fields in the acceptance flow are optional, allowing users to capture only the information applicable to the collection.

Attachments

Supporting documents related to the acceptance can be added through the Attachments section.

Users can attach the Export Collection contract/deal or any other relevant documentation, keeping the acceptance information and supporting files together within the transaction.

Submitting the Acceptance

Once the relevant details have been entered, users can review and submit the acceptance.

After submission:

• The Export Collection moves to the Accept state.
• All acceptance details are saved against the transaction.
• The Accept action is no longer available.
• View Acceptance becomes available for future reference.

This prevents duplicate acceptance while maintaining a clear record of the submitted information.

Viewing Acceptance Details

After the acceptance has been submitted, users can select View Acceptance to review the information previously captured.

The acceptance details are displayed in read-only mode, including the maturity date, fees, deductions, additions, and other submitted information.

This provides users with a clear record of the acceptance while protecting the submitted details from further modification.