Booking a Fast Track Payment deal

After entering your Fast Track Payment details, you can select the Settlement Period, get the exchange rates for the payments, and book the payment.

Note: Fast Track Payments cannot be booked on the same deal as regular payments.

To book a Fast Track Payment

1. On the Fast Track Payment page, click the REVIEW PAYMENT(S) tab.
   All the payments that you created are listed here. You can review the payments and, if necessary, make any required changes. For more information, see Reviewing and editing payments.
2. From the Settlement Period dropdown, select the settlement term. This determines the date when the Fast Track Payment must be settled. The default is 28 days from the book date.
   Note: Adjusting the settlement period will impact the rate and settlement amount due for foreign exchange payments, that is, payments where payment and settlement currencies are not the same. For same currency payments, adjusting the settlement period will impact the Fast Track Payment Fee amount.
   
   
   

3. Optionally, if there are any payments in the list that you do not want to book at this time, you can remove them from the list. From the dropdown menu beside each of the payments you want to exclude, click Save For Later.
   
   
   
   

   If any payments require approval

   If any of the payments require approval, you will see a text box at the top of the page indicating the number of payments that require approval. The STATUS column displays an orange check beside the payments that are pending approval.
   
   An authorized approver must review and approve the payments before they can be booked. In most cases, the approver will also book the deal.
   
   Note: Fast Track Payments must be approved separately from regular payments.
   
   
   
   

   • To modify the list of approvers, click Manage Approver List, and deselect those approvers you want to exclude.
     
     
     
     When you click BOOK NOW, an email will be sent to the approvers letting them know that there are payments awaiting approval.
     
     Note: If all the payments require approval, a NOTIFY APPROVER button will display in place of the GET RATE and BOOK NOW buttons.
     
     
     

4. Click GET RATE to get a live quote and display the resulting payment and settlement amounts. The RATE EXPIRY timer indicates the amount of time you have to book the deal at the displayed rate.
   
   

   Note: Updating the Settlement period during the rate expiry countdown, will disable the Book Now button. In this case, you must retrieve a new rate to proceed.
   
   

5. Click BOOK NOW to confirm the rate and book the payments.
   A confirmation message appears.
   Confirmations for Fast Track Payments will include the settlement due date.
   
   Note: If the total amount of the Fast Track Payments exceeds the available balance on your Fast Track Payments credit limit, an error message will display to indicate that the deal could not be booked. Please contact your Account Manager if you require assistance.
   
   In Cross-Border reports, Fast Track Payments display Fast Track Payment in the Source column. In the Settlement History report, the Status column displays Paid for payments that have settled, and Open for payments that have not yet been repaid. The Settlement Date is the date by which an open Fast Track Payment must be repaid.