Rulebook SCT v6.0 Approved

Download Rulebook SCT v6.0 Approved

Post on 10-Nov-2014

5 views

Category:

Documents

1 download

Embed Size (px)

DESCRIPTION

Rulebook SCT v6.0 Approved

TRANSCRIPT

EPC125-05 Version 6.0 Approved Date issued: 17 November 2011 Date effective: 17 November 2012

SEPA CREDIT TRANSFER SCHEME RULEBOOK

Conseil Europen des Paiements AISBL Av. de Tervueren 12 B 1040 Brussels Tel: +32 2 733 35 33 Fax: +32 2 736 49 88 Enterprise N 0873.268.927 www.epc-cep.eu secretariat@epc-cep.eu

2011 Copyright European Payments Council (EPC) AISBL: Reproduction for non-commercial purposes is authorised, with acknowledgement of the source

TABLE OF CONTENTS0. DOCUMENT INFORMATION .................................................................................................................. 5 0.1 0.2 0.3 0.4 0.5 1. REFERENCES ........................................................................................................................................ 5 CHANGE HISTORY ................................................................................................................................ 6 PURPOSE OF DOCUMENT ...................................................................................................................... 7 ABOUT THE EPC .................................................................................................................................. 7 OTHER RELATED DOCUMENTS............................................................................................................. 8

VISION & OBJECTIVES ........................................................................................................................... 10 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 VISION ................................................................................................................................................. 10 OBJECTIVES ......................................................................................................................................... 10 COMMERCIAL CONTEXT FOR USERS AND PROVIDERS OF PAYMENT SERVICES .................................... 11 BINDING NATURE OF THE RULEBOOK .................................................................................................. 12 SEPARATION OF THE SCHEME FROM INFRASTRUCTURE........................................................................ 12 OTHER FEATURES OF THE SCHEME ...................................................................................................... 12 THE BUSINESS BENEFITS OF THE SCHEME............................................................................................ 13 MAXIMUM EXECUTION TIME ............................................................................................................... 14

2.

SCOPE OF THE SCHEME......................................................................................................................... 15 2.1 2.2 2.3 2.4 2.5 2.6 2.7 APPLICATION TO SEPA ........................................................................................................................ 15 DESCRIPTION OF SCOPE OF THE SCHEME.............................................................................................. 15 ADDITIONAL OPTIONAL SERVICES ....................................................................................................... 15 CURRENCY ........................................................................................................................................... 16 VALUE LIMITS ..................................................................................................................................... 16 REACHABILITY ..................................................................................................................................... 17 REMITTANCE DATA ............................................................................................................................. 17

3.

ROLES OF THE SCHEME ACTORS ....................................................................................................... 18 3.1 3.2 3.3 3.4 3.5 3.6 ACTORS................................................................................................................................................ 18 THE FOUR CORNER MODEL ................................................................................................................. 19 CLEARING AND SETTLEMENT MECHANISMS ........................................................................................ 20 INTERMEDIARY BANKS ........................................................................................................................ 20 GOVERNING LAWS ............................................................................................................................... 20 RELATIONSHIP WITH CUSTOMERS ........................................................................................................ 20

4.

BUSINESS AND OPERATIONAL RULES .............................................................................................. 21 4.1 4.2 4.3 NAMING CONVENTIONS ....................................................................................................................... 21 OVERVIEW OF THE CREDIT TRANSFER PROCESS & TIME CYCLE ......................................................... 21 SEPA CREDIT TRANSFER PROCESSING FLOW ...................................................................................... 24

EPC125-05 SCT RB v6.0 Approved

Page 2 - 17 November 2011

4.4 4.5 4.6 5.

EXCEPTION PROCESSING FLOW............................................................................................................ 28 BUSINESS REQUIREMENTS FOR DATASETS ........................................................................................... 32 BUSINESS REQUIREMENTS FOR ATTRIBUTES........................................................................................ 37

RIGHTS AND OBLIGATIONS OF PARTICIPANTS ............................................................................ 48 5.1 5.2 5.3 5.4 5.5 5.6 5.7 5.8 5.9 5.10 5.11 5.12 5.13 5.14 5.15 THE SCHEME ........................................................................................................................................ 48 COMPLIANCE WITH THE RULEBOOK ..................................................................................................... 48 REACHABILITY ..................................................................................................................................... 49 ELIGIBILITY FOR PARTICIPATION .......................................................................................................... 49 BECOMING A PARTICIPANT .................................................................................................................. 51 CREDIT TRANSFER SCHEME LIST OF PARTICIPANTS............................................................................. 51 OBLIGATIONS OF AN ORIGINATOR BANK ............................................................................................. 52 OBLIGATIONS OF A BENEFICIARY BANK .............................................................................................. 53 LIMITATION OF LIABILITY .................................................................................................................... 54 LIABILITY OF THE EPC......................................................................................................................... 55 TERMINATION ...................................................................................................................................... 55 INTELLECTUAL PROPERTY ................................................................................................................... 55 COMPLIANCE BY CSMS ....................................................................................................................... 55 CONTRACTUAL PROVISIONS ................................................................................................................. 56 APPLICATION OF THE PSD BETWEEN PARTICIPANTS FROM 1 NOVEMBER 2009 ................................... 56

6.

SEPA SCHEME MANAGEMENT............................................................................................................. 58 6.1 6.2 DEVELOPMENT AND EVOLUTION ......................................................................................................... 58 ADMINISTRATION AND COMPLIANCE ................................................................................................... 58

7.

DEFINED TERMS IN THE RULEBOOK ................................................................................................ 60

EPC125-05 SCT RB v6.0 Approved

Page 3 - 17 November 2011

TABLE OF FIGURES Figure 1: Credit Transfer Overview ................................................................................................. 11 Figure 2: 4-Corner Model - Illustrative ........................................................................................... 19 Figure 3: Credit Transfer Process .................................................................................................... 24 Figure 4: Credit Transfer Recall Process ......................................................................................... 26

ANNEXES Annex I SEPA Credit Transfer Adherence Agreement Annex II SEPA Scheme Management Internal Rules Annex III Rulebook amendments and changes since v5.1

EPC125-05 SCT RB v6.0 Approved

Page 4 - 17 November 2011

0. DOCUMENT INFORMATION0.1 References This section lists documents referred to in the Rulebook. The convention used throughout is to provide the reference number only, in square brackets. Use of square brackets throughout is exclusively for this purpose.Document Number [1] [2] [3] [4] [5] [6] [7] [9] [10] [11] EPC115-06 EPC170-05 ISO 13616 EPC265-03