Invoice

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					                                                                                     13.03.2007


PaymentMeans
The part of an message that transfers information from the seller to the buyer aboutn how the
buyer or a third party on his behalf as payee should pay the invoice.
In electronis trade invoices are most commonly paid through some sort of an electronic system
such as bank transfers, giro systems og payment cards but settelment of invoices can also be
according to separate contract that are not described in the invoice it self. Payments can also
be made in cash or by check. The basic type of the payment method is specified with the
element PaymentMeansCode.
Specific payment means such as bank transfers can require different account information
depending on within which country the account is held, if the trade is cross border and also
depending on what payment system is being used. This is specified with the
PaymentChannelCode element which is therefore a key element for validating the information.
It is possible to define more than one payment means is the same message and link them to
particular payment terms.
UBL classes and elements
The following elements and classes are used to describe payment means.
Name                                         Description
PaymentMeansID                               Identification for the payment means within
                                             the message.
PaymentMeansCode                             Coded description of the type of payment
                                             means.
PaymentChannelCode                           Coded identification specifying the format of
                                             the account id and used to validate account
                                             information.
PaymentDueDate                               Due date for the payment using the
                                             payment means.
InstructionID                                Sellers reference to payment.
InstructionNote                              Free text payment instructions
PayerFinancialAccount / ID                   Account ID number
PayerFinancialAccount / AccountTypeCode      Account type such as current account.
PayerFinancialAccount / CurrencyCode         Code for the currency in which the account
                                             is held.
PayerFinancialAccount / FiBranch / ID        Branch ID number
PayerFinancialAccount / FiBranch /           Financial institution ID (Bank Identification
FinancialInstitution /ID                     Code)
PayerFinancialAccount / FiBranch /Address    Address information for the branch
CardAccount                                  Information about creditcard and other
                                             payment cards used for settlement.
Description

ID
Identification for the payment means used to differentiate between various payment means
described in the message when more than one is provided. Recommendation is to use
sequential numbers. 1, 2, 3 ....
PaymentMeansCode
Coded description of the type of payment means that the seller requests to be used for
payment.
There are five electronic payment means defined as well as two manual. The manual payment
means don’t have a role in electronic invoicing but their existence needs to be recognized in
the NES message to support the complete business process.
By using payment means to issuer of the invoice can specify whether he requests an
international or domestic transfer between bank accounts.
PaymentMeansCode             UN/CEFACT description     Description of use
1                            Instrument not defined    Payment means are not provided
                                                       with the invoice.

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10                           Cash                          Payments in cash
20                           Check                         Payments by Check
31                           Debit transfer                Bank deposits into the stated
                                                           account, manual or electronic
                                                           tranfers.
48                           Bank card                     Creditcard, purchasing cards and
                                                           other credit methods.
49                           Direct debit                  Regular payments from a stated
                                                           account.
50                           Payment by postgiro           Payment via a giro system.
97                           Clearing between partners     Settlement is made by seperate
                                                           arrangements between partners,
                                                           e.g. mutual purchases, loans etc.
PaymentChannelCode
Identifier describing the payment system that is being used. When payments systems require
specific account id format and information the PaymentChannelCode can be used to control the
validation.
Codes that are prefixed with a country code apply only domestically within that country and
should not be used in cross border trade. Example is DK:BANK which should only be used to
identify account information for danish banks by using domestic methods. When the same
account is being used in cross border trade seller should provide e.g. IBAN information for the
account.
PaymentChannel Code            Code description
IBAN                           Bank account identified internationally with IBAN and BIC codes.
BBAN                           Bank account identified by domestic means.
DK:BANK                        Danish bank account identified by domestic means.
DK:GIRO                        Danish giro account.
IS:BANK                        Icelandic bank account identified by domestic means.
IS:GIRO                        Icelandic giro account.
IS:IK66                        Icelandic bank claiming system.
SE:POSTGIRO                    Swedish postgiro account.
SE:BANKGIRO                    Swedish bankgiro account.
SE:PLUSGIRO                    Swedish plusgiro account.
FI:GIRO                        Finnish giro account.
FI:BANK                        Finnish bank account identified by domestic means.
GB:BANK                        UK bank account identified by domestic means.


Validation for domestic PaymentChannels is specified by each country. Validation for cross
border payment methods is the following.
IBAN
Mandatory elements                            Content
PaymentMeansCode                              31
PaymentChannelCode                            IBAN
PayerFinancialAccount / ID                    The accounts number formated as specified by ISO
                                              13616:2003.
PayerFinancialAccount / FiBranch /            Bank Identifier Code, BIC, for the financial
FinancialInstitution /ID                      institution where the account is held. ISO 9362
InstructionID
A reference provided by he seller to be sent along with the payment and used when matching
payment to invoice. This reference may have certain rules for machine-validation, however
these rules will depend on the financial institution or service intended.

InstructionNote
For the purpose of advicing the payee textually on how payments should be handled or to
provide additional references.


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AccountID
The id number for the account. The format of the id is specified with the PaymentChannelCode.
If the payment channel code is IBAN the account ID should be full IBAN id but if payment
channel is SE:BBAN then the account id provided should be the Swedish basic bank account
number.

PayeeFinancialAccount / AccountTypeCode
Information about account type either descriptive or by using country specific codes. Examples
of descriptives account types are Current Account, Cash Account.

CurrencyCode
The currency in which the account is held. If an account is held in a currency that is different
from the invoice currency then it is necessary to provide exchange rates information in the
PaymentExchangeRates class.

PayeeFinancialAccount / FIBranch / ID
Identification for the branch where the account it held. Example of such use is the FW number
for transfers to the US.

PayeeFinancialAccount / FIBranch / FinancialInstitution / ID
Identifier for the financial institution where the account is held. Recommended code is the
Bank Identification Code (BIC) that uses 8 alphabetical digits. For payment through the SWIFT
payment system this code is required.

PayeeFinancialAccount / FIBranch / Address
Address information for the branch at which the account is held. Such additional information
may be necessary for correcly routing payments to countries that do not participate in the
IBAN system such as the United States.

CardAccount
A class containing severeal elements used for providing information about creditcard payments
or similar cards such as purchasing cards. If an invoice is paid with a creditcard the invoice is
settled at the point when it is issued. It may however be necessary to include in the invoice
information about the card transaction that relates to the invoice to enable matching of the
invoice against the card statement.
Examples
Domestic account transfer
An invoice is raised with due date 1. January 2007. The seller requests the buyer to transfer
the payment into Icelandic bank account nr. 123456 in bank branch 001 by using the domestic
bank transfer system. The seller requests the buyer to use the reference A12345 with the
payment. Account type is 26 – Icelandic current account and the account is held in Euros.

<cac:PaymentMeans>
  <cbc:PaymentMeansCode>31</cbc:PaymentMeansCode>
  <cbc:PaymentDueDate>2007-01-01</cbc:PaymentDueDate>
  <cbc:PaymentChannelCode>IS:BANK</cbc:PaymentChannelCode>
  <cbc:InstructionID>A12345</cbc:InstructionID>
  <cac:PayeeFinancialAccount>
     <cbc:ID>123456</cbc:ID>
     <cbc:AccountTypeCode>26</cbc:AccountTypeCode>
     <cbc:CurrencyCode>EUR</cbc:CurrencyCode>
     <cac:FinancialInstitutionBranch>
       <cbc:ID>001</cbc:ID>
     </cac:FinancialInstitutionBranch>
  </cac:PayeeFinancialAccount>
</cac:PaymentMeans>

International account transfer



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IBAN (International Bank Account Number, ISO_13616:2003) is an international bank account
identification system designed for use in international trade. The numbering system is widely
used in Europe but is for example not used much in the USA. The IBAN number is usually used
in conjunction with the BIC code to identify the financial institution where the account is held.

A seller requests a buyer to pay an invoice into an account that has the IBAN number
IS000001261234560101901239 and the BIC number for the financial institution is SEISISRE.
The financial institution name is Central bank of Iceland.
<cac:PaymentMeans>
      <cbc:PaymentMeansCode>31</cbc:PaymentMeansCode>
      <cbc:PaymentDueDate>2007-01-01</cbc:PaymentDueDate>
      <cbc:PaymentChannelCode>IBAN</cbc:PaymentChannelCode>
      <cbc:InstructionID>A12345</cbc:InstructionID>
      <cac:PayeeFinancialAccount>
            <cbc:ID>IS000001261234560101901239</cbc:ID>
            <cbc:CurrencyCode>EUR</cbc:CurrencyCode>
            <cac:FinancialInstitutionBranch>
                   <cbc:ID>SEISISRE</cbc:ID>
                   <cbc:Name>Central bank of Iceland</cbc:Name>
            </cac:FinancialInstitutionBranch>
      </cac:PayeeFinancialAccount>
</cac:PaymentMeans>


International transfers without IBAN
If the payee is required to transfer the payment into an account with a bank that is not
registered in the IBAN system additional information is usually required. Usually is it necessary
to provide a domestic branch identification number as well as the city and region of the
branch. Example is SWIFT transfers to the USA where in addition to the account number and
the BIC code it is necessary to provide the Fedwire ID for the branch and the state and town
where the branch is located.

Following example if for a US bank account. The name of the bank is Sample bank of America
with BIC/ number SBAMUSTN. The account number is 12345678. The branch office in is
Nashville, Tennessee. Fed Wire number for the branch is FW123456789.

<cac:PaymentMeans>
  <cbc:PaymentMeansCode>31</cbc:PaymentMeansCode>
  <cbc:PaymentDueDate>2007-01-01</cbc:PaymentDueDate>
  <cbc:PaymentChannelCode>BBAN</cbc:PaymentChannelCode>
  <cac:PayeeFinancialAccount>
     <cbc:ID>12345678</cbc:ID>
     <cbc:CurrencyCode>USD</cbc:CurrencyCode>
     <cac:FinancialInstitutionBranch>
       <cbc:ID>FW123456789</cbc:ID>
       <cac:FinancialInstitution>
          <cbc:ID>SBAMUSNY</cbc:ID>
          <cbc:Name>Sample bank of America</cbc:Name>
       </cac:FinancialInstitution>
       <cac:Address>
          <cbc:CityName>Nashville</cbc:CityName>
          <cbc:Region>Tennessee</cbc:Region>
       </cac:Address>
     </cac:FinancialInstitutionBranch>
  </cac:PayeeFinancialAccount>
</cac:PaymentMeans>




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