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      Confirmation: Click-to-Confirm

      Description

      A GEN-Company can onboard their counterparties and/or their customers (both considered Non-GEN-Companies before onboarding occurs) to Confirmation Hub.

      For the companies onboarded, now being GEN-Companies, the Seed Tier applies. A GEN-User of a GEN-Company in tier Seed can use the web application to receive, download and manually match/mismatch incoming confirmations via available user (bulk) actions.

       

      In a Click-to-Confirm use case, the PDF version of the Confirmation is the binding one. The xml version and data are considered the metadata necessary for (automated) electronic processing and matching of the Confirmation via the Confirmation Hub. In case of an eCM addendum concluded between the GEN-Company and the Non-GEN-Company under an EFET frame agreement, the xml version of the Confirmation is the binding one.

       

      Prerequisite of Setup for GEN-Companies

      • Have 2 active companies and 2 authorized users for each one of them;

      • Optionally fill im My company private data & Counterparty private data at least for the GEN-Company sending Confirmations;

      • Optionally set applicable PDF template/s via PDF Template Builder for the GEN-Company sending Confirmations;

      • Optionally enable Notifications;

      • Optionally enable Routing and Gatekeeper; 

       

      Process Flow Summary and Diagram

      • GEN-Company A issues Confirmation to GEN-Company B (e.g. with XML and PDF attached);

      • GEN-Company B receives email or notification from GEN-Company A;

      • GEN-Company B logs into GEN directly using the email link or accessing the dashboard;

      • If Company B is not registered yet, then it will be redirected to the sign up page;

      • GEN-Company B looks at incoming Confirmation in Confirmation Document Details View.

      • GEN-Company B chooses to either:

        • Accept the Confirmation. This leads the Confirmation into a Matched status;

        • Dispute the Confirmation. This leads the Confirmation into a Mismatched status and starts the dispute process;

        • Optionally there is the feature of chat which enables collaboration for exchanging information and files with the purpose of solving dispute process;

      • GEN-Company A receives status updates of Confirmation based on the Non-GEN-Company's answer via email notification, UI or optionally SFTP and RESTful API.

      2024.06.11 Confirmation - Click to Confirm

       

      Step-by-Step User View

      GEN-Company A

       

      GEN-Company B

       

      Non-GEN-Company B

       

      The user issues Confirmation to Company B (e.g. with XML and PDF attached).

       

      n/a

       

      n/a

      The user receives email or notification from GEN-Company A.

       

      n/a

      The user logs into GEN directly using the email link or accessing the dashboard. 

      If the user is not registered yet, then it will be redirected to the sign up page.

       

      n/a

      The user looks at incoming Confirmation in Confirmation Document Details View.

      n/a

      		 The user chooses to either:
      • Accept the Confirmation. This leads the Confirmation into a Matched status;
      • Dispute the Confirmation. This leads the Confirmation into a Mismatched status and starts the dispute process;
      • Optionally there is the feature of chat which enables collaboration for exchanging information and files with the purpose of solving dispute process;

      The user receives status updates of Confirmation based on the Non-GEN-Company's answer via email notification, UI or optionally SFTP and RESTful API.


       

      n/a