Formal proposal for the UBL Payments and Finance Subcommittee

["G. Ken Holman" <gkholman@CraneSoftwrights.com>]

The following fulfills the obligations on our committee in the 
creation of a new subcommittee.  I apologize that this did not get 
properly covered in our meeting this morning when it came to mind to 
create the committee sooner rather than later, but we need to polish 
this before it is accepted by TC Administration, as they need such 
detail and they need explicit acceptance of the detail.

A vote on the details below will be held at our next meeting, 
schedule for May 17, 2017, if not before.

First, though, what edits need we make below?  The statement of 
purpose has to be improved a lot because I don't have any depth in 
the topic to write this properly.  I'm using the Pre-Award 
Subcommittee as a template:

  https://www.oasis-open.org/committees/sc_home.php?wg_abbrev=ubl-pre-award

Can you please let me know (ASAP and off list) if you are available 
for a 5-minute UBL TC meeting Friday May 5, 14:00UTC or Monday May 8, 
14:00UTC to vote on and approve the following as a motion for 
creating the new subcommittee.  If so, then on Thursday I will 
formally call for the meeting if the edits for below are done.

Thanks!

. . . . . . Ken

Proposed charter straw-man for consideration:

UBL Payments and Finance Subcommittee

Identifying requirements for standardized UBL document types for 
processes related to making payments and enabling financing.

Proposed co-chairs:

  Kenneth Bengtsson, Individual Member
  Todd Albers, Federal Reserve Bank of Minneapolis

Statement of purpose:

The culmination of the processes currently defined for procurement in 
UBL end in the issuance of the invoice and use of the remittance 
advice.  But there are processes that are triggered by the existence 
of an invoice, and these involve the participation of roles that are 
not currently recognized in existing UBL processes.

Considering the availability of standardized documents already in the 
area of payments, the ISO 20022 specification standardizes concepts 
and information items, but does not standardize the assembly of these 
items into well-defined formal messages for document 
interchange.  Moreover, the available information items do not 
accommodate helpful information from the procurement process leading 
up to the issuance of the invoice.  Building UBL documents in harmony 
with ISO 20022 satisfies the established user-base of UBL's common 
library in other UBL documents while ensuring the information can be 
transmitted to systems that may already be operating with ISO 20022.

From a processing perspective it is important to have the invoice 
document in its role in procurement distinct from payments and 
financing documents because of the roles involved in working with the 
documents and the processes that are engaged with those 
documents.  Other examples found internationally of the invoice 
conflate procurement and payment information in a single document 
that can be difficult to work with by all parties.

All information exchanged during payments and financing must be 
trusted to ensure the integrity of the process. This requirement is 
often supported by legislation.

The UBL Payments and Finance Subcommittee is tasked with identifying 
requirements for the development and implementation of standardized 
UBL document types for payments- and finance-related processes that 
have the potential to bridge UBL procurement systems to banking 
systems and other systems supporting the handling of payments and/or 
financing of invoices.

Scope of Work

1. To liaise with governments, industry, and organizations 
responsible for payments and finance to identify business and legal 
requirements for associated processes.

2. To develop, document and maintain the semantic conceptual models 
for the UBL Payment and Finance package within the UBL package as a 
whole. This may include identifying suitable code lists.

3. To liaise regarding the payment and finance models with other 
subcommittees in UBL as required.

4. To foster implementations of UBL for payment and finance through 
coordination, guidance, and responsiveness to queries in order to 
test the viability of UBL implementations in real-world scenarios. 
For example, the Web Payments Working Group at the W3C.

5. To develop informative materials as an aid to developers of UBL 
based applications and interfaces.

6. The Subcommittee is not responsible for the generation of any XML Schema.

The pace of development will attempt to keep up with the release of 
new versions of UBL, beginning with UBL 2.3.

Deliverables:

List of Deliverables

1. UBL payments and finance process model(s)

2. UBL payments and finance document model(s)

3. UBL package documentation of the payments and finance models

Possible Deliverables

4. Descriptions of representative payments and financing scenarios

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