Clearance Information During Shopping

With release 21.3 of the Enhanced and Simplified Distribution Standard it is possible to exchange clearance information during shopping and to agree upon and digitally sign the Clearance Data at the time of payment commitment.

1. Clearance Criteria

This common type is used by the retailer to communicate preference for using the SwO Standard for clearance reporting with or without a specific remittance date. ”Clearance Criteria” supplies information about preference for given clearance process and reporting standard at the time of requesting an offer or additional information about an offer, an item, or an order. It is part of the “Payment Method Criteria”, and it is relevant whenever the method of payment will require clearance of funds between the partners of the sale.

2. Clearance Methods

This common type provides the clearance options with their supporting information proposed by the supplier for a given offer when using the SwO Standard for clearance reporting. "Clearance Methods” supplies the methods available to clear a payment. It is part of the “Payment Supported Method”, and it is relevant whenever the method of payment will require clearance of funds between the partners of the sale. Includes the Commission data to allow the supplier to support choices that are in line with its payment policy. Optionally, the supplier could provide the Net Clearance Amount based on the available data in the offer and the given clearance process as per the Process Rule Code. It shall be noted that the Net Clearance Amount would be more relevant at the time of selecting an offer to be priced or at the time when the order is created.

3. Clearance Data

This is an agreed upon set of data that delivers all that is necessary for a clearance of funds to take place when using the SwO Standard for clearance reporting.

While “Clearance Criteria” and “Clearance Methods” supply information of choices or options to clear funds using the SwO Standard and Process, “Clearance Data” supplies the data needed, as agreed by the Clearance Payer and the Clearance Payee of the clearance, to execute the clearance using the SwO Standard and Process.

The Clearance Identifier ‘ClearanceID’ is created at the time of confirming the “Clearance Data” and at that time it is communicated to the Clearance Payer and the Clearance Payee of the Clearance. As a result, the Clearance Identifier becomes globally unique identifier that is indelible part of the Order.

It is the core data required by the Clearance Manager to process a Clearance. Optionally, it can be signed by the Clearance Payer and the Clearance Payee of the clearance.

It is important to note that Clearance Data is jointly created by the retailer and the supplier of the order. The retailer, at the time of committing the payment, defines its role either as Clearance Payer or Clearance Payee and provides the Net Clearance Amount, the reporting standard for processing the clearance and an optional remittance date. Then the supplier, if in agreement with the data provided by the retailer, adds the unique clearance identifier and the payment commitment date and time. Both parties have the option to digitally sign the data they provide to deliver certainty and clarity about what has been agreed with regards to the clearance of funds and offer irrefutable proof to the Clearance Manager that the “Clearance Data” has been seen and agreed by both parties to the “Clearance” – the Clearance Payer and the Clearance Payee.