Action plan for your company's migration to SEPA: 80 days left, are you ready?
Posted: Sun Dec 22, 2024 5:45 am
This process must be completed and SEPA payments must become a regular routine for all Spanish companies before 01/02/2014 , because if any company does not do so before this date, 01/02/2014, it may suffer a cash flow crisis, since all transfers and debits made will be blocked as they have not been processed as SEPA payments.
On 01/02/2014, transfers, AEB notebook 34, debts, AEB notebook 19 will cease to be operational. Process to follow:
1. Compilation and updating of documentation for SEPA bank identification, IBAN and BIC.
Any company that adapts its telegram korean list payments to the SEPA format must obtain the IBAN and BIC of all its employees, clients, debtors, suppliers, creditors and Public Administrations with which it works, as well as having provided the company's own numbers, as well as having returned signed mandates received from its suppliers and creditors.
Adapt all documentation; commercial, administrative, accounting, tax, commercial and notarial, so that the corresponding IBAN and BIC are updated.
For all your clients/debtors to whom you issue debits: a. Those who have a valid debit order, signed according to the AEB format:
They must have custody of this order, together with the CCC adaptation, which contains the IBAN and BIC, previously obtained from the client/debtor. In all SEPA payments that you issue, based on old debit orders (AEB), they must contain, adapted, the order reference, they will appear as recurring payments, and the mandate date will be 31/10/2009.
If you wish to change from Notebook 19 debits to SEPA B2B debits, the AEB debit orders in force will not be valid; you must request that the client/debtor sign a B2B mandate.
b. For new clients/debtors , who are formally authorized to charge, SEPA mandates must be issued, which will be sent to the debtor, with the unique reference of the mandate already provided. The debtor will complete it, stating the IBAN and BIC of the account from which he wants the charge to be made, his signature and the date.
By signing the mandate, the debtor's authorization to the creditor to issue debits against his account will be recorded, as well as the authorization that the debtor gives to his bank, so that when he receives the debits from the creditor's bank, he charges them to his account. The mandate is the authorization that the debtor gives to start a payment flow, during an established time.
The date of the mandate is used to establish when the authorization comes into force. If the authorization end date is not stated in the mandate, it will be in force as long as the underlying commercial relationship that links the creditor and the debtor lasts.
If 36 months pass without the creditor having issued any debit against the debtor's account, the mandate will have expired, and before issuing a new debit, the creditor must send the debtor a new mandate for signature.
If both the creditor and the debtor operate interchangeably with different banks during the same period of time, the creditor must have a signed and kept valid mandate for each different payment flow that it maintains with the debtor.
On 01/02/2014, transfers, AEB notebook 34, debts, AEB notebook 19 will cease to be operational. Process to follow:
1. Compilation and updating of documentation for SEPA bank identification, IBAN and BIC.
Any company that adapts its telegram korean list payments to the SEPA format must obtain the IBAN and BIC of all its employees, clients, debtors, suppliers, creditors and Public Administrations with which it works, as well as having provided the company's own numbers, as well as having returned signed mandates received from its suppliers and creditors.
Adapt all documentation; commercial, administrative, accounting, tax, commercial and notarial, so that the corresponding IBAN and BIC are updated.
For all your clients/debtors to whom you issue debits: a. Those who have a valid debit order, signed according to the AEB format:
They must have custody of this order, together with the CCC adaptation, which contains the IBAN and BIC, previously obtained from the client/debtor. In all SEPA payments that you issue, based on old debit orders (AEB), they must contain, adapted, the order reference, they will appear as recurring payments, and the mandate date will be 31/10/2009.
If you wish to change from Notebook 19 debits to SEPA B2B debits, the AEB debit orders in force will not be valid; you must request that the client/debtor sign a B2B mandate.
b. For new clients/debtors , who are formally authorized to charge, SEPA mandates must be issued, which will be sent to the debtor, with the unique reference of the mandate already provided. The debtor will complete it, stating the IBAN and BIC of the account from which he wants the charge to be made, his signature and the date.
By signing the mandate, the debtor's authorization to the creditor to issue debits against his account will be recorded, as well as the authorization that the debtor gives to his bank, so that when he receives the debits from the creditor's bank, he charges them to his account. The mandate is the authorization that the debtor gives to start a payment flow, during an established time.
The date of the mandate is used to establish when the authorization comes into force. If the authorization end date is not stated in the mandate, it will be in force as long as the underlying commercial relationship that links the creditor and the debtor lasts.
If 36 months pass without the creditor having issued any debit against the debtor's account, the mandate will have expired, and before issuing a new debit, the creditor must send the debtor a new mandate for signature.
If both the creditor and the debtor operate interchangeably with different banks during the same period of time, the creditor must have a signed and kept valid mandate for each different payment flow that it maintains with the debtor.