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Subject: Formal proposal for the UBL Payments and Finance Subcommittee

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:


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.


. . . . . . 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.


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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