BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
COMUNICACIÓN “A“ 4281 14/01/2005
TO FINANCIAL ENTITIES:
Ref.: Circular
SINAP 1 - 4
Organized Text on the National Payments System - Operational Instructions - Checks ______ We address you to accompany you, in attachments, the organized text corresponding to the operational instructions that must be observed in order to electronically compensate, through the Clearing Chambers referred to in Communication "A" 2557 and complementary ones, the instrument CHECK. We salute you very attentively. BANCO CENTRAL DE LA REPUBLICA ARGENTINA Nicolás Delle Grazie Julio C. Siri Submanager of Payment Systems Manager of Payment System and Operations

ANEXO

B.C.R.A.
Annex to
Com. “A”
4281
-1-
Section 1: Introduction.
Section 2: Definition and characteristics of the system.
2.1. Objectives.
2.2. Participating entities.
2.3. Documents.
2.4. Scope of application.
Section 3: Operational instructions.
3.1. Electronic clearing of checks.
3.2. Particular aspects of truncated check clearing.
3.3. Particular aspects of non-truncated check clearing.
Section 4: Responsibilities of participants.
4.1. Of the depositing entity.
4.2. Of the Electronic Chambers.
4.3. Of the drawee entity.
Section 5: Controls to be performed.
5.1. By the Electronic Chambers.
5.2. By the entities.
Section 6: Transactions and messages.
6.1. Introduction.
6.2. File structure.
Section 7: Record design.
7.1. File header.
7.2. Batch header.
7.3. Individual record of check presentation and adjustments.
7.4. Additional record of rejections and adjustments.
7.5. Individual record of presentation and rejection of claims
7.6. Individual record of presentation control and rejection of images.
7.7. Individual record of out-of-exchange rejections, responses to out-of-exchange rejections.
7.8. Additional record of responses to out-of-exchange rejections.
7.9. End of batch control.
7.10. End of file control.
7.11. Encoding of transactions and check messages.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 1 - Introduction
Version: 1 COMMUNICATION “A“ 4281
Validity:
14/01/2005

INTRODUCTION.
The present document defines the operational norms necessary for financial entities, hereinafter the entities, participants to operate in the electronic clearing of checks, through the acting Electronic Clearing Chambers (CEC) in the system. These operational norms define the way in which system participants will operate, the presentation and clearing schedules, the distribution of processed information to entities, communication sessions, controls to be carried out by participants, their responsibilities, the characteristics of messages and the record designs of the information to be exchanged electronically with the CEC. The main chapters of these operational norms are:

Definition and characteristics of the system.
Operational instructions.
Responsibilities of participants.
Controls to be performed.
Transactions and messages.
Record design.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 2 - Definition and characteristics of the system
Version: 1 COMMUNICATION “A“ 4281
Validity:
14/01/2005
2. DEFINITION AND CHARACTERISTICS OF THE SYSTEM.
The system is based on the electronic clearing of information corresponding to checks, which implies the electronic exchange of transactions between originating (or depositing) and receiving (or drawee) entities through the CEC, so that:

The drawee entities can apply the received transactions to their clients' accounts using the data of the checks captured only once by the depositing entities.
The settlement of cleared balances between entities can be operated through the posting of their accounts at the BCRA, through information that it will receive
from the CEC, ensuring its coincidence with the information processed by the entities.
2.1 Objectives.
The first objective of the system is the electronic clearing of checks, exchanging the necessary information for the electronic posting of transactions in the entities and of the cleared balances between entities in the accounts of these at the BCRA. The next objective is to allow the optimization of the physical exchange of documents, through:
The truncation of low-amount checks.
Enabling other more efficient process alternatives (centralization of document exchange, etc.).
Check truncation is understood as the omission of the transfer and delivery of the checks of low amount from the depositing entity to the drawee entity, retaining the document in the first one. All the necessary information travels electronically through the compensation system, performing all controls and the posting in the accounts of the issuing clients based on said information. The only controls that are omitted are those of signature and authority. The reason for this is to reduce the operational costs of the entities, since given the large number of low-amount checks, the operational savings enabled by truncation compensate for possible losses due to the decrease in controls that this system might allow. Checks that exceed the truncation amount limit imply a risk of fraud that cannot be assumed, so they will continue to be exchanged so that the pertinent controls are performed.
2.2. Participating Entities.
2.2.1. Form of participation.
The form of participation of entities in the electronic clearing system of checks is through CEC. This participation may be, at the choice of the en-

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 2 - Definition and characteristics of the system
Version: 1 COMMUNICATION “A“ 4281
Validity:
14/01/2005 tities, direct as a full member of one or more chambers or indirect through the designation of another member entity as its representative. In the settlement phase in BCRA accounts, only the full members of each chamber will intervene. The representative entity must identify in the exchange process the documents it presents on behalf of its represented party. It will be the responsibility of participating entities to operate in accordance with the standards and formats defined by these norms for the electronic exchange of check information.
2.2.2. Participating Actors.
Electronic check clearing in general implies the participation of the following actors:

The originating/depositing entity.
The receiving/drawee entity.
The Transmission Center.
The Electronic Chambers.
Central Bank of the Republic Argentina.
The scheme of exchange and clearing of non-truncated checks in particular, may involve the additional participation of the following two actors:
The inter-city exchange service.
The exchange point.
2.2.2.1. Originating/Depositing Entity:
It is the depositing entity, which presents the check for its clearing and credits the amount to the client who deposited it in its own accounts. This client can be a client of the entity or another entity that chooses to be represented by this one in the electronic clearing system.
2.2.2.2. Receiving/Drawee Entity:
It is the drawee entity, which receives the information of the checks to be paid, debits them from the clients who issued them, and credits the accepted amount to the entity depositing.
2.2.2.3. Transmission Center:

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 2 - Definition and characteristics of the system
Version: 1 COMMUNICATION “A“ 4281
Validity:
14/01/2005
They are the telecommunications elements with which participating entities carry out the emission and reception of electronic information to and from a CEC. Entities may install a Transmission Center in one or more branches, at their headquarters and/or in one or more external centers belonging to a third party that provides them with this service through an agreement. Each entity may use as many Transmission Centers as necessary to cover its entire network of branches. In the CEC that provides them service, each of these branches must be assigned to a Transmission Center, both for the emission and for the reception of information. Transmission Centers will have no effect on clearing, but will act only as points of sending and receiving files. In case the entity uses more than one Transmission Center to receive information from the CEC, the reception of the resulting net positions from the clearing coming from the latter can be carried out in the same predetermined Transmission Center.
2.2.2.4. Electronic Chambers:
They are the institutions that administer the electronic clearing of payment instruments originated by operations of clients or third parties unrelated to the financial entities. They work in free competition providing the services of clearing defined in these norms. They communicate with each other to exchange cross transactions, which allows entities to communicate only with their electronic chamber, and this one to take charge of the transactions of all entities, regardless of whether they are clients of it or not. The main functions they will perform are the following:

Consolidation of files received from different originating entities
and classification of information by receiving entity, generating and sending output files with the detail of transactions for the same (sessions of presented and rejected).
Exchange of transactions with the remaining CECs.
Calculation of bilateral positions of each entity and sending of these to each
one of them.
Settlement of balances in current accounts opened at the BCRA.
Sending of statistical and control information to the BCRA.
Administration of interbank commissions associated with the process.
2.2.2.5 Inter-city exchange service:

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 2 - Definition and characteristics of the system
Version: 1 COMMUNICATION “A“ 4281
Validity:
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It is the service of delivery of non-truncated checks at the established exchange point when the depositing entity does not have a branch in the place of drawee.
2.2.2.6. Exchange Point:
It is the place where the physical exchange of non-truncated checks takes place.
These exchange centers differ from the current clearing chambers in the following points:

They do not process electronic or paper information, they only exchange documents.
They do not clear, nor communicate balances to the BCRA.
Checks from any place can be exchanged, as long as the drawee entity
accepts them.
The exchange point does not perform an individual control of the delivered documents.
The relationship between participants is described in the following table:

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 2 - Definition and characteristics of the system
Version: 1 COMMUNICATION “A“ 4281
Validity:
14/01/2005
Deposited Bank Drawee Bank

Branch * Branch
Headquarters * Headquarters
External * External
Center Center
2.3. Documents.
The system covers the treatment of the following types of checks denominated in pesos, which comply with the normalization requirements established by BCRA regulations:
Common checks.
Deferred payment checks.
Certified checks.
Both truncated checks, defined below, and those that will continue to be physically exchanged (non-truncated) will be electronically cleared.
2.3.1. Truncated Checks.
They are those that remain in the possession of the depositing entity, after capturing their data representative, reaching the drawee only the information of them in B.C.R.A. Branch Center Transmission Electronic Chamber Center Transmission Computations Inter-city exchange service Branch Point of exchange Control Signatures Electronic Information Physical Document Transport

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 2 - Definition and characteristics of the system
Version: 1 COMMUNICATION “A“ 4281
Validity:
14/01/2005 in electronic form. These data constitute all the information that the depositing entity makes available to the drawee entity so that it confirms/rejects its payment, without it being necessary to resort to the sending of the original document. The truncation amount will be informed through communication from the BCRA, as it increases over time.
2.3.2. Non-truncated Checks.
They are those that, by exceeding the defined truncation amount limit, in addition to being included in the information sent electronically in files, are subject to delivery of the original documents, or in the future their image, to the drawee entity. They will also be non-truncated checks the types of documents that are expressly included in the Truncation Agreement between entities.
2.3.3. Deferred Payment Checks.
Deferred payment checks (CPD) have two distinct cycles, the registration cycle and the payment cycle.
The registration cycle will not be contemplated in the clearing system, given that it is an exchange of documents between entities without money settlement. The payment cycle begins when the CPD matures. This cycle is similar to the clearing of a check, so the same rules and instructions that will govern common checks will apply.
2.3.4. Certified Checks.
These checks will be cleared in the same way as common checks, applying the same instructions and sending the same information as for these. Each drawee entity will keep a record of the checks it has certified, to be able to identify them from the electronic information it receives.
2.4. Scope of application.
Through this system, checks can be electronically cleared, regardless of their origin and destination, within the national territory. If the depositing and drawee entities operate in different CECs, it will be the responsibility of the latter to exchange transactions to ensure the complete interconnection of the system.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A“ 4281
Validity:
14/01/2005
3. OPERATIONAL INSTRUCTIONS.
In the first part of this chapter (point 3.1.) the mechanisms of presentation, clearing, communication sessions and other relevant aspects to consider are developed. In the second part (points 3.2 and 3.3) the particular aspects to consider in the clearing of truncated checks and non-truncated checks are detailed.
3.1 Electronic clearing of checks.
3.1.1 Presentation.
Entities will transmit to the CEC(s) files containing the information corresponding to the checks that said entity presents for its electronic clearing.
3.1.1.1. Transmission sessions and transactions to be presented.
Daily, two sessions will operate in which the chamber will receive files from entities:

The presented session.
The rejected session.
The transactions to be presented electronically to the CEC are the following:
In the presented session:
Checks and other compensable instruments to be cleared: they will present all the records corresponding to the documents received daily, regardless of whether they are truncated or not.
.
Adjustments: they will present eventual adjustments to checks already presented and cleared, transaction defined below.
Claims.
Out-of-exchange rejections.
In the rejected session:
Rejections due to formal defects of depositing entities of truncated checks, transaction defined below.
Rejections by drawee entities on checks previously presented
and cleared, according to the causes provided for in current regulations.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A“ 4281
Validity:
14/01/2005

Rejections of claims: they will present claims on truncated checks, message defined below.
Deferral orders: they will present deferral orders on non-truncated checks, message defined below.
Responses to out-of-exchange rejections.
3.1.1.2. Deadlines and schedules.
For each session (presented and rejected) the deadline schedules for presentation of information to the CECs defined by each chamber will apply, which govern communications between them and their respective adhering entities. These schedules function as the deadline for information transmissions between a CEC and its adhering entities. This means that entities may transmit files to a chamber throughout the day, from the start of operations schedule defined by each chamber, until said deadline schedule. Entities that have not been able to send the information to their chamber before said deadline schedules must wait until the next business day to transmit the information to be cleared or exchanged. The exception to this occurs with the communication of rejections, which in case of not being sent in the corresponding session can be managed through adjustments in the presented session of the same day.
3.1.2. Information processing in the Electronic Chamber.
3.1.2.1. Reception and validation.
The CEC will execute the electronic processing of information related to checks, whether of the information received in the presented session or in the rejected session, from the corresponding deadline schedules for each session. The CEC will carry out a series of validations on the received files, rejecting them in case of error. The reasons for rejection will be:
Impossibility of reading the file.
Error in the file structure.
Lack of match in control totals.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A“ 4281
Validity:
14/01/2005

Error in drawee and depositing entity codes.
Entity not adhered to the chamber.
Duplicate file.
If the files pass all the validations carried out by the chamber, it will send an acceptance response, assuming responsibility for its correct treatment. If they do not pass the validations, the chamber reserves the right to request the retransmission of the file in whole or in part.
3.1.2.2. Electronic clearing.
i) Clearing in the Electronic Chamber.
There will be two sessions for sending check transactions:
Presented:
Checks and other compensable instruments.
Adjustments.
Claims.
Out-of-exchange rejections.
Rejected:
Rejections of checks and other compensable documents.
Rejection of claims of truncated checks.
Deferral orders of non-truncated checks.
Responses to out-of-exchange rejections.
ii) Clearing between Electronic Chambers:
The CECs will interconnect in order to enable the exchange of movements between entities, a procedure that must be applied both for the presented session as well as for the rejected session. The procedure to be followed in each session will be the following:

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A“ 4281
Validity:
14/01/2005
The Electronic Chamber (1) that receives the information from the origin entity, will calculate in the first instance the bilateral clearing movements between it and all its destination entities. Secondly, it will retransmit the detail information to the Electronic Chamber (2) of the destination entities. The Electronic Chamber (2) of the destination entities, will calculate the bilateral clearing movements between its adhering entities and the origin entity making the detail of the transactions available to each destination entity. Each Electronic Chamber will communicate the resulting bilateral movements from the clearing to its respective entities. The chambers will calculate their final inter-chamber position. The chamber that has remained in a debtor balance will pay the creditor chamber and, to finish, both Chambers must effect the settlement of the Creditor Entities Example Assuming the case where two entities were adhered to each of the chambers, these would be the net positions of the system participants:
Chamber X Chamber Y
Entity A Entity C Entity B Entity D
B +80 A(50) A(80) A(20)
C +50
D +20
Where Entity A would collect from Entities B, C and D.
The chambers will inform the BCRA as follows:
Chamber X
Debit Credit
Entity C 50
Chamber Y 100
Entity A 150
Where the 100 of Chamber Y are the sum of its entities (B=80 and D=20)

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A“ 4281
Validity:
14/01/2005
Chamber Y
Debit Credit
Entity B 80
Entity D 20
Chambers X 100
The following graph presents the inter-chamber clearing scheme:
1 2 3 3
5 5
The structure, content and format of the files to be exchanged electronically between the chambers must comply with the same specifications and standards defined in the chapter of Transactions and messages and in the Record design chapter. iii) Deadlines and schedules. In order to avoid delays in the sending of the information resulting from the clearing to entities and to the BCRA, deadline schedules will be defined for information transactions between chambers.
3.1.3. Sending to entities.
3.1.3.1. Communication of movements.
Deposited
Electronic Chamber
(1)
Electronic Chamber
(2)
Drawee
B.C.R.A.
4 4

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005

After the clearing process, all participating entities will receive from the CEC the files with:

The detail of the cleared movements.
The resulting bilateral balances from the clearing.
The drawee entities will be the recipients of the information resulting from the session of presented items, and the depositing entities will receive the information resulting from the session of rejected items.

In the case where the entity receiving the information uses several Transmission Centers for the reception of files from the chamber, a specific one will be designated where the balances resulting from the clearing will always be received. This information will be received separately for each type of currency or species, for each product (checks, debits, transfers) and for each clearing term.

3.1.3.2. Processing of received information.
The entities will receive from the CEC the files resulting from the clearing, up to the reception hours defined by each chamber. The entities may impute the movements in their clients' accounts based on the files received from the CEC, being able to perform rejections, in accordance with current regulations, based on these records or physical returns, if applicable. If a rejection occurs based on electronic information, the drawee entities will reject based on said information and proceed with the return of the physical document. The reasons for rejection and return of checks, as well as the rejections of electronic transactions, are included in detail in Section 7 "Design of records" in the additional rejection record, field 3 "First reason for rejection".

In cases of reasons for rejection and return of documents, as well as in the case of chamber unwinding (“Unwinding”), it is necessary to return the physical document to the depositing client. For other rejections of transactions, it corresponds to the return of the document (non-truncated) by the drawee entity to the depositing entity for new presentation. If validations are not exceeded, the entities reserve the right to request the retransmission of the file in whole or in part.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005

3.1.4. Other operational aspects.
3.1.4.1. Business days for clearing.
All days defined by the BCRA as such will be considered business days for clearing.

3.1.4.2. Local holidays.
i) Definition.
A planned local holiday is considered any declared by the competent authority (national, provincial, municipal, or Autonomous City of Buenos Aires), which can be included in advance in a calendar of local holidays. This calendar will be administered by the CEC, and will include the dates of the planned holidays for the different exchange points. It will be duly disseminated through the publication of a CIMPRA bulletin and will be prepared with the information that the entities must provide to the CEC. An unplanned local holiday is considered any declared by the competent authority (national, provincial, municipal, or Autonomous City of Buenos Aires), which cannot be included in advance in the calendar administered by the CEC, but which is known to them through information provided formally by the person in charge of the exchange point, before 10:00 on the day the holiday occurs.

ii) Operational instructions. a) Planned local holidays:
Upon receiving the notice of holiday, in a reliable manner, from the person in charge of the exchange point with a local holiday, the CEC will identify the movements with the clearing date of the holiday day, reject them in the rejection session of that same day for the reason of “local holiday”, and in the next immediate session of presented items, they will be presented again with the date of the next business day, distributing to the entities the information of the transactions corresponding to the exchange point with the local holiday.

The tasks and their sequence that the different intervening actors must perform are described below:
Day D

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005

Before 10:00.
Entities and Electronic Chambers:

Entities belonging to the same Exchange Point will agree among themselves and with their respective headquarters on adherence to the local holiday. Before 10:00 on the day the holiday occurs, the entities must inform the person in charge of the Exchange Point of their decision to adhere to the holiday, and this person will notify the CEC of said situation in a reliable manner.
The CEC will re-present the files from the session of presented items and reject all transactions from the exchange point(s) that have informed of the local holiday.
They will distribute to the depositing entities of the plaza with the local holiday the rejections generated with their respective total.

Rejection Session
Depositing Entity:

It cannot present rejections of the depositing entity for deferred checks due to local holiday.
Electronic Chambers:
They will reject possible rejections, both of the depositing entity and of the drawee entity, for those checks that were deferred due to local holiday.
Drawee Entity:
They must not present rejections of the drawee entity for checks deferred due to local holiday.

To achieve reconciliation of the final position of debits and credits, the entities must consider the following information:
Depositing Entity: reconciliation of final position: Debits

Rejections of the depositing entity (truncation).
Rejections received from the drawee entity, not rejected by it itself.
Rejections due to local holiday.

Electronic Chambers:

They will include in the consolidated positions the movements rejected due to local holiday.

Drawee Entity: reconciliation of the final position: Credits

Rejections of the drawee entity.
Rejections received from the depositing entity, not rejected by it itself (truncation).
Rejections due to local holiday.

Session of presented items.
Electronic Chambers:

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005

They will re-present the transactions that were deferred due to local holiday.
To achieve reconciliation of the final position of debits and credits, the entities must consider the following information:
Depositing Entity: reconciliation of presented position: Credits
Movements sent.
Movements deferred due to local holiday presented by the chambers.

Electronic Chambers:

They will distribute to the entities the transactions affected by the local holiday.
They will distribute the positions including the transactions deferred due to local holiday.

Drawee Entity: reconciliation of the presented position: Debits

Cleared movements received.
Movements deferred due to local holiday received by the chambers.

Day D + 1
The Entities may present the rejections as depositing entities and drawee entities that should not have presented the previous day, corresponding to the movements deferred due to local holiday.

b) Interruption of activities after their start:
In case that the entities belonging to the same Exchange Point must interrupt their regular activities, after they have started, for some extraordinary or unforeseen reason, the procedure to be applied is the following:
Each entity belonging to the Exchange Point must inform its respective Electronic Chamber if it is or is not in conditions to transmit the presentation of the day. Based on the information received, the Electronic Chambers may decide coordinately to suspend that day the session of presented items for that particular Exchange Point. In this last case, the steps to be followed by the entities are the following:
The entities must make the presentation to the next business day. For those entities that have made the presentation, the CEC will apply to the next business day the procedure that governs for planned local holidays.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
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The rejection session will be carried out, therefore the entities must transmit the rejections of the day.
Those entities that could not transmit the rejections must deposit the money equivalent to the total of the presentation and send the rejections as an adjustment to the next business day. Likewise, they must inform the involved entities which are the documents that should have been rejected, to avoid that the crediting is made in the clients' accounts.

3.1.4.3. Exception procedure for communication failure.
In the eventuality of a failure in the communication between the Transmission Centers and the CEC, an exception procedure is foreseen based on the exchange of information by magnetic support with physical delivery of the same in the plaza where the CEC provides the service of reading magnetic supports. The entities will be responsible for the delivery or withdrawal of said support to the CEC. Nevertheless, if the communication problem had not extended to all entities, those affected will have the option to resort to the Transmission Center of another entity that manages the transmission of the information to the CEC.

3.1.4.4 Emergency situations.
i) Definition.
These are all those of external origin to the financial entities and of serious effects, (for example: flood, tornado, road cuts, etc.) that affect one or several plazas and some or most of the entities that participate in electronic clearing. Internal situations registered by the entities (for example: labor actions taken by the entity's staff, computer center problems, etc.) are not included in this procedure, their resolution corresponding through the application of the “Force Majeure” scheme and norms. Non-participation in clearing comprises both the impossibility of carrying out the physical exchange of documents, as well as the transmission of files.

ii) Operational instructions.
The persons in charge of the Exchange Points will communicate to the CEC, on the day it occurs, the inconveniences caused by emergency situations. The CEC and the entities will proceed as follows:
Rejection Session:

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005

The corresponding one for the presented items of the previous business day will be carried out, with the usual procedure for normal days. The headquarters of the affected branches will reject the entirety of the records presented, on the previous business day, using the rejection code for the transaction: R 34 “Emergency situation”. The transmission of the electronic files of the rejections will be carried out in the usual hour of sending the information to the CEC. Depositing Entity: must clear again the documents rejected due to emergency situation in the session of presented items of the same day or the next business day. In the case of non-truncated documents, it will present only the electronic data, without proceeding to the physical exchange, since it will not have the respective values. Given this situation, it is observed the need to identify the depositors through the checks; for this, it is convenient that identification procedures for the deposits are developed, such as establishing a relationship between the check and the deposit slip. In case that in the second presentation, some truncated value is rejected for a cause that generates a fine, the obtaining of the image to be delivered to the drawee entity must be obtained from the files of the original presentation. Affected Branches: will retain the documents, waiting for the second presentation, to carry out the payment tasks and the physical exchange of non-truncated checks.

Session of presented items of that date:
The CEC will be available to carry out the processing in the established hours.
The person in charge of the Exchange Point will have the responsibility to:

Gather the information among the participating entities of the plaza, regarding the volume to be transmitted in the session of presented items.
Inform the CEC if the emergency situation will affect more than 50% of the volume of documents to be presented, which would imply the need to defer the session. The volume of documents that will be taken into account for the decision making and application of the 50% will be a monthly average of the presentations for that Exchange Point.
In case the deferral of the session of presented items is determined, the CEC will apply to the records that have been transmitted, the procedures established for unplanned local holiday, which must be communicated to its member entities. If the session of presented items is made possible and the process is not deferred, the physical exchange of documents will be carried out on the next business day, in the usual hour fixed for the Exchange Point.

3.2. Particular aspects of the clearing of truncated checks.
3.2.1. Definition of truncated checks.
Those are those that remain in the possession of the depositing entity, after capturing their representative data, reaching the drawee entity only the information about them in electronic form. These data constitute all the information that the depositing entity sends to the drawee entity so that it decides to make the payment or the rejection, without it being necessary to resort to the sending of the original document. Nevertheless, the original document must remain available to the drawee entity, who may require the original or a copy of it, in case of claims. The movement of original documents will be minimized using a differential tariff. The original documents, once delivered by the depositing entity to the drawee entity, will not be returned, losing their condition of truncated.

3.2.2. Clearing Terms.
All truncated checks will have a clearing term between entities of 48 hours.

Day D Day D + 1 Day D + 2
Presentation Claims
Availability of funds to the client
Clearing Clearing Settlement
Presented Rejected B.C.R.A.

3.2.3. Presentation.
The depositing entities will transmit to a CEC, in the session of presented items, the files with the information on the checks to be cleared and adjustments up to the defined deadline, in files whose structure, content, and format are detailed in the chapter of Messages and Design of records.

3.2.4. Processing by Electronic Chambers.
The chambers will receive and clear the checks to then inform the drawee entities of the movements resulting from the clearing, according to the defined hours.

3.2.5. Processes to be executed by the depositing entity.
On the business day following the presentation, the depositing entity will execute the following processes:
§ Preparation of the rejection file, with all those checks regarding which it had detected any of the reasons for formal defects established by the BCRA regulations. § Crediting of the amount of the non-rejected checks in the accounts of the depositing clients, once the movements are settled in the BCRA.

3.2.6. Reception by the drawee entity.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005

The drawee entities will receive from the Electronic Chamber the files with the detail of the movements and the bilateral balances cleared in the defined hours.

3.2.6.1. Processes to be executed by the drawee entity.
Once the information is received and its validity is assured, the drawee entities will execute the following processes:

Execution of electronic controls of the existence of rejection causes as established by current regulations.
Preparation of the rejection file, with all those checks that could not be debited for any of the pre-established reasons (see chapter of Rejections).
Execution of the debit in the accounts of their clients for the amount of the check.
With electronic clearing, the drawee entities will base themselves exclusively on the electronic data, received from the chamber, to proceed to debit the accounts of their clients. Therefore, it is necessary that the entities maximize the electronic controls of the received information to ensure the proper conduct of the operations.

3.2.7. Rejections.
3.2.7.1. Rejections of the depositing entity.
i) Definition.
These are the rejections that the depositing entity performs when it verifies, in the physical checks received, the existence of any of the defects foreseen in the current legislation and regulations.

ii) Operational instructions. a) Transmission of rejected checks.
The depositing entity will transmit to the CEC, up to the deadline hour of the rejection session, the file with the information corresponding to the checks it rejected, taking into account the rejection causes defined in current regulations. In case of truncation, in accordance with current regulations, it will transmit for the following reasons for rejection of checks and/or transactions:

R11 “Exceeds the established limit of endorsements”.
R16 “Document is not a check”.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005

R33 “Forgery of the check”.
R36 “Alteration of the check”.
R37 “Legal validity period expired”.
R38 “Drawer's signature does not match that of the person endorsing”.
R83 “Irregularity in the chain of endorsements”.
R96 “Errors of the Depositing Entity”.
R97 “Early presentation” (cpd).

b) Processing by the Electronic Chamber.
The CEC will receive and clear the rejected checks, according to the defined hours.

c) Reception of the rejections by the drawee entity.
The drawee entity will receive from the CEC the file with the information of the rejections observed by the depositing entity. With this information, the drawee entity:

Will reverse the debits duly made in the accounts of its clients, informing them.
Will inform the BCRA of the check rejections, in accordance with what is established in point 1.5.2.11 of the norms on “Regulation of the bank current account”.

3.2.7.2. Rejections of the drawee entity.
i) Definition.
These are the rejections that the drawee entity performs when it verifies, in the information of checks received in electronic form, the existence of any of the rejection or document return causes, or rejection causes of transactions, foreseen in current regulations.

ii) Operational instructions. a) Transmission of rejected checks and transactions.
The drawee entity will transmit to the CEC, up to the deadline hour of the rejection session, the information corresponding to the checks/transactions it rejected. In case of truncation, in accordance with current regulations, it will transmit for the following reasons for rejection of checks and/or transactions:

R01 “Seized account”,

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005

R02 “Account closed by judicial order”,
R03 “Non-existent account”,
R04 “Invalid account number”,
R08 “Report of loss, theft or alteration of check” (order not to pay),
R10 “Insufficient available funds”,
R13 “Non-existent branch/destination entity”,
R19 “Incorrect amount”,
R21 “Preventive bankruptcy of the drawer, declared judicially”,
R24 “Duplicate transaction”,
R34 “Emergency situations”,
R35 “Lack of conformity in the receipt of check books”,
R39 “Amount does not match that registered by the drawee bank”,
R79 “Error in field 7 individual record”,
R81 “Force majeure”,
R82 “Missing check”,
R93 “Local holiday”,
R94 “Incorrect postal code”,
R96 “Errors of the depositing entity”
R97 “Early presentation (cpd)”.

b) Processing by the Electronic Chamber.
The chamber will receive and clear the information corresponding to the rejected checks, according to the defined hours.

c) Reception of the rejections by the depositing entity.
The depositing entity will receive from the CEC the file with the information corresponding to the rejected checks.

d) Transitional file until rejections from the drawee entity arrive.
It is necessary that the depositing entities temporarily archive the truncated checks not yet confirmed, to be able to return them to the depositing client in case they are rejected by the drawee entity.

e) Stamp and delivery to the depositing client.
The depositing entity will stamp the rejected check, including in said stamp the information established by the BCRA, and deliver the check to the client who made the deposit.

f) Treatment of rejections due to order not to pay, forgery and alteration of the check.
For the case of truncated checks that are rejected by “order not to pay” by the drawee entity and by “forgery and alteration of the check” by the depositing entity, the original documents must be sent physically by the depositing entity to the drawee entity in the session of physical exchange of rejected checks on the day following the rejection. The physical exchange of said checks will be operated through the same Exchange Center that is used to exchange non-truncated checks.

iii) Management of rejections by the CEC.
The CEC must manage the validity of the rejections of the entities regarding the term. The normal term for rejecting a check will be 1 business day. In case that the depositing entity transmits to the CEC the rejection of a check for any of the foreseen causes, and said check is also rejected by the drawee entity for any of the foreseen causes, a duplication of rejections on the same document in the same clearing cycle (collision of rejections) would occur. The CEC processes the information received from both entities in the rejection session and, in case it detects records that correspond to the same document, it must administer the collision as follows:

The chamber will send to each entity the reasons for rejections reported by the other entity.
The chamber will make the monetary imputation based on one of the received records, considering the other as informational.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005
Identification of the signatory in the Entity drawn upon at the request of the holder of the rejected check.
Proceed according to the regulations issued by the BCRA for this purpose.
3.2.7.3. Rejections outside of exchange.
Values rejected outside of exchange are those presented by the drawn entity within a maximum period of 120 days, after the corresponding period for the presentation of rejections. In a first stage, the circuit of rejections outside of exchange applies within the scope of the Capital Federal Chamber, while the rest of the locations continue with their usual procedures. i) Description of the rejection circuit outside of exchange. This circuit allows the drawn entity to present the rejection outside of exchange to the depository entity, both for truncated and non-truncated checks, through a non-monetary transaction using the Individual Register of Rejections Outside of Exchange. The admitted rejections are those originating from the reasons for check rejection used by the drawn entity, such as: insufficient available funds, order of non-payment, account closed by judicial order, etc. The presentation of a rejection outside of exchange is carried out in the session of presented checks, in batches separate from the documents to be compensated. In the case of non-truncated checks, the drawn entity must additionally deliver the original document on the same day it transmits the rejection outside of exchange transaction, except when it concerns a rejection for any of the reasons that imply that the document remains in its possession, such as:

R08: Report of loss, theft of the formula on which the check is drawn.
R33: Check formula different from that delivered by the drawn entity (forgery).
R36: Alteration of the check.
In these cases, the drawn entity will deliver a reproduction of the non-truncated document rejected outside of exchange.
On the other hand, the exchange of images of the truncated checks rejected outside of exchange will be carried out bilaterally between the drawn and depository entities. ii) Response to the rejection outside of exchange.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005
The deadline for the depository entity to give a response regarding the acceptance or non-acceptance of the rejection outside of exchange is 15 business days from the presentation thereof by the drawn entity. Likewise, the CECs will carry out a statistical control of the breaches incurred by the entities in order to analyze, in a future stage, the possibility of establishing a specific deadline for the “non-acceptance” of the rejection outside of exchange. From the day following the receipt of the outside of exchange transaction, the depository entity may carry out the following actions:

Reject the outside of exchange because the check was not presented previously or for not having received the original non-truncated document.
Communicate the acceptance of the rejection outside of exchange.
Communicate the non-acceptance of the rejection outside of exchange.
Not respond.
In the first three cases, the depository entity will send a non-monetary response transaction equivalent to a rejection of the original outside of exchange transaction. For this, the following records will be used: Individual Register of Rejections Outside of Exchange and Additional Register of Rejections Outside of Exchange; in the latter, in the 3 positions of field No. 3 “First Reason for Rejection”, the response will be given using the following rejection codes:
R41: Non-existent check
R42: Acceptance of rejection outside of exchange
R43: Non-acceptance of rejection outside of exchange
R82: Missing check
On the other hand, when the depository entity responds to the request for a rejection outside of exchange, it must indicate the corresponding maturity date for the original transaction.
3.2.8. Claims.
3.2.8.1. Sending the claim to the chamber.
The request for the original document or its image and the fulfillment of that request, that is, the remittance of the image, will be carried out through a similar system with records of similar characteristics. The delivery of the original document will take place at the Physical Exchange Center, with the intervention of the person in charge of the Exchange Point. The deadline for making a claim through this circuit will be one (1) year counted from the date of compensation of the check; however,

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005 despite this, after that deadline has passed, the claim will also be admitted through the system, being subject to the application of a differentiated interbank commission. Likewise, the possible collection of differences by the drawn entity that could be verified by viewing the received document (reproduction or original) will be admitted for documents compensated with an age of less than one (1) year; while those adjustments derived from the observation of documents compensated with an age greater than that period will have a bilateral treatment between the intervening entities.
3.2.8.2. Receipt of the claim at the CECs.
The CECs, upon receiving the claims sent by the drawn entities, will carry out the corresponding format and resolution deadline controls before processing them. Nevertheless, they will not control that the data of the claim corresponds to the data sent in the presentation of the check for its compensation.
3.2.8.3. Response to the received claim.
The depository entity, upon receiving the claim message, will carry out the necessary checks, essentially verifying that the claimed check was presented by it on the date informed in the claim. The sending of the claimed image or the possible rejection of the request for not corresponding, will be sent through the same system.
3.2.8.4. Rejection of the claim.
The reasons why a claim may be rejected are mentioned below:
Non-existent Account The affected account cannot be identified Invalid account number The affected account has a format error Check already delivered Truncated check that has already been delivered to the drawn bank or to the depositing client Incorrect presentation date When an incorrect presentation date of the original check is informed, including an inactive day or an incorrect date Incorrect amount When the depository entity proceeds to reject a claim in which the amount does not match the amount of the requested document or because it was made on a non-truncated document Duplicate transaction When duplicate transactions are received Non-existent check When claims are received on non-existent checks (Cimpra 118). If any of the specified reasons are verified, the depository entity may reject the claim on its due date, 8 business days counted from the date of pre-

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005 sentation thereof. For this, a control record without associated image will be used, using the rejection codes detailed in the annex that describes the design of records.
3.2.8.5. Transmission of the image.
In case what was requested was a reproduction, the depository entity must send the images of the front and back of the claimed check, both in a single image file, which will be associated with a control record containing the data of the check that were sent in the electronic transaction of the claim. For this, the following scheme of exchange sessions will exist, similar to that used for the images of rejected truncated checks:

Session for presentation of claimed images: On the day of maturity of the electronic claim transaction, that is, the eighth business day following its presentation.
Session for rejection of images: The second business day following the maturity of the electronic claim transaction or the tenth business day from its presentation.
Session for presentation of rejected and/or missing images: The fourth business day following the day of maturity of the electronic claim transaction or the twelfth business day from its presentation. This second presentation will be to send images not sent in the first session and/or rejected by the CECs or by the drawn entities, it will not have the possibility of recovery in case of rejections.
Session for rejections of re-sent or missing images and Final Report of the compensation cycle: The fifth business day following the day of maturity of the electronic claim transaction or the thirteenth from its presentation.
Rejection of the Claim
Rejections of Incorrect Images
Resending of rejected / missing
Rejections of re-sent images
Day 4 Day 5 Day 6 Day 7 Day 8 Day 9 Day 10
REQUEST PERIOD
Day 11
FULFILLMENT PERIOD
Day 1 Day 3
Presentation of the Claim
Presentation of Claimed Images
Day 2 Day 12 Day 13

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005
3.2.8.6. Receipt of the images at the CECs.
The CECs will control the fulfillment of the sending of the images, pairing the data indexed to it with the data of the electronic transaction of the claim sent through the same system.
3.2.8.7. Receipt by the drawn entity.
The drawn entity may reject the received image, in case of deficiencies that do not allow it to carry out the pertinent checks. Such rejection must be sent under the same modalities used for the rejection of images of rejected truncated checks, that is, by sending a control record with the design described in the annex, without the associated image file. Upon receiving the rejection of the image due to deficiencies in it or for incorrect image, the CECs must unmark the fulfillment, passing to include it within the pending sending and reception.
3.2.8.8. Exchange of claimed originals.
The delivery of the claimed originals must be carried out at the Physical Exchange Center on the thirteenth (13) business day counted from the date of presentation of the claim, while the depository entity may reject the request for claim of an original document on the eighth business day following the presentation thereof. At the time of delivery, the intervention of the person in charge of the Exchange Center will be available, who will verify it through the capture of the physical check data, using a technological means that allows the reading of the CMC7 characters, and the manual entry of the amount, pairing then the obtained data with a database of claimed originals provided by the CECs. The latter will determine the procedure through which, from the data of the delivered original, the fulfillment of the claim will be marked, generating at the same time the information related to the unanswered claims.
3.2.9. Adjustments.
3.2.9.1. Definition.
In the presented session, depository entities may inform as “adjustments” the eventual differences found by their control processes, between the amounts of the checks presented electronically and the amounts of the physical checks.
3.2.9.2. Operational Instructions.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005
When the Depository Entity recognizes a difference in the amount of a check already presented and compensated, it will proceed as follows:

If the amount by which it was presented is less than the amount shown on the check, the adjustment must be informed in the file to be transmitted in the presented session.
If the amount by which it was presented is greater than the amount shown on the check, the drawn entity must be informed about the identified difference so that it proceeds to inform the adjustment in the file to be transmitted in the presented session.
In any case, the entities must identify in the file to be transmitted the information of the originally presented check with respect to which the adjustment is intended to be made.
3.3. Particular aspects of the compensation of non-truncated checks.
3.3.1. Definition of non-truncated checks.
Those are those that, by exceeding the truncation limit amount defined, in addition to being included in the information sent electronically in files, are subject to delivery of the original documents to the drawn entity. Non-truncated checks will also be those that are expressly excluded in the Truncation Agreement between financial entities.
3.3.2. Compensation deadlines.
In case of exchange and compensation of non-truncated checks in the same location, the compensation period is established at 48 hours.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
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Day D Day D + 1 Day D + 2
Presentation Rejected Presented
Compensation Settlement
B.C.R.A.
3.3.3. Presentation.
3.3.3.1. Sending of electronic information.
The depository entity will present the documents electronically on the day of its deposit in the presented session, until the defined deadline. The electronic information sent to the chamber will include, in each batch, a field with the compensation period.
3.3.4. Processing by the CECs.
The electronic record will be compensated in the normal compensation cycle once the presented session has ended.
3.3.5. Receipt by the drawn entity.
The CECs will send the information of the non-truncated checks to the entities.
If a deferral order arrives, defined later, the chamber will debit the check to the depository on the next business day in the rejected session, to then present it automatically in the presented session of that same day.
3.3.5.1. Processes to be executed by the drawn entity.
The drawn entities, once received the compensated movements on the date agreed with the depository, must carry out:

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005

The electronic controls on the received information.
The debit in their clients' accounts for the amount of the check.
The formal controls on the physical checks.
The verification of the existence of the other causes of rejection established in the BCRA regulations, carrying out the corresponding controls.
The preparation of the rejection file, with all those checks that could not be debited for any of the pre-established reasons (see point 3.2.7.).
3.3.6. Physical Exchange.
3.3.6.1. Definition.
The physical displacement of the documents is based on the legal obligation to present the check at the account domicile to be paid. The physical exchange will be carried out in the places where it is currently carried out, referred to in this document as Exchange Points and following the same procedures. The depository entity will be responsible for delivering the check to the Exchange Point, either by itself, through its branch network, or through the contracting of a financial entity (“service of exchange between locations”), when it does not have presence in some location.
3.3.6.2. Operational Instructions.
i) Receipt of the physical check.
The drawn entities must have the non-truncated check in their possession on the business day prior to the compensation date. In case of not receiving it, they may generate a deferral order, sending the corresponding message to the CEC.
3.3.7. Rejections by the drawn entity.
3.3.7.1. Definition.
These are the rejections that the drawn entity carries out when it verifies, in the physical document of the non-truncated check or with the electronic information, the existence of any of the rejection causes provided for in the current regulations.
3.3.7.2. Causes.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005
The rejection causes are those established in the current regulations.
3.3.7.3. Operational Instructions.
The physical exchange of the rejected documents will be carried out at the same exchange points where the original checks had been previously presented. The electronic compensation of rejections will be carried out according to the operation previously described in the electronic compensation of checks in general. The drawn entity, in the same way as it does with truncated checks, must:

Reverse the debits duly made in their clients' accounts, informing them
Notify the BCRA, according to what is established in point 1.5.2.11. of the regulations on “Regulation of the bank current account”.
3.3.8. Deferral Orders.
3.3.8.1. Definition.
These are messages that the drawn entity sends to the CEC when it does not receive, on the business day prior to the agreed settlement date, the non-truncated check.
3.3.8.2. Operational Instructions.
i) Transmission of the file by the drawn entity.
The drawn entity will transmit the deferral order to the CEC, including it in the files, in separate batches, with the information corresponding to the checks it rejects. ii) Deadlines and hours. The file that includes the deferral orders must be transmitted in the rejected session until the defined deadline. iii) Compensation of the check with deferral order. The chamber, upon receiving these orders, will defer the compensation of the check for one business day. This deferral will consist of two movements:
Debit in the rejection session the check previously compensated in favor of the depository entity.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005

Present for compensation the amount in the presented session of that same day. This presentation will be carried out by the depository entity.
The following day, if there is no information of rejection or a new deferral of the document, it will be finally settled in favor of the depository entity. iv) Limit of deferral orders. There will be a limit of 3 business days to consecutively defer a document. At the end of this period, the check must be automatically presented by the CEC in the presented session of the last of those 3 days. If the drawn entity has not yet received the document, it may reject it the next business day in the rejected session for missing document. v) Rejection of a check with deferral order. The rejection of a check with a deferral order will have the same characteristics as those of a non-truncated check of the common cycle. vi) Receipt of the check after rejection. In the case that the drawn entity receives a check after having rejected it as missing, it will communicate with the depository so that it re-presents it electronically with a compensation period of 48 hours.
3.3.9. Adjustments.
3.3.9.1. Definition.
In the presented session, drawn entities may inform as “adjustments” the eventual differences found by their control processes between the amounts of the checks received electronically and the amounts of the physical checks.
3.3.9.2. Operational Instructions.
When the Drawn Entity recognizes a difference in the amount of a check received, and it had already been presented and compensated, it will proceed as follows:
If the amount by which it was presented is less than the amount shown on the check, it must inform the depository entity about the identified difference so that it proceeds to present the adjustment in the file to be transmitted in the presented session.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 3 - Operational Instructions
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005

If the amount by which it was presented is greater than the amount shown on the check, it must inform the adjustment in the file to be transmitted in the presented session.
In any case, the entities must identify in the file to be transmitted the information of the originally presented check with respect to which the adjustment is intended to be made.
3.3.10. Compensation and Settlement.
3.3.10.1. Compensation of non-truncated checks.
The chamber will carry out the compensation from the deadline for presentation of checks established, on the date agreed by the entities and informed by the depository in each of the checks presented. Likewise, upon finishing the rejected session, the CEC will carry out the compensation of said movements.
3.3.10.2. Settlement.
The settlement will be carried out according to the compensation period of the check: the day following the presentation.

NATIONAL PAYMENTS SYSTEM - CHECKS
B.C.R.A.
Section 4 - Responsibilities of the participants.
Version: 1 COMMUNICATION “A” 4281
Validity:
14/01/2005
4. RESPONSIBILITIES OF THE PARTICIPANTS.
The system implies a series of responsibilities that the participating entities must assume:

The system is based on the trust that the information exchanged electronically can be used for direct account posting. Consequently, the depository entity must ensure the fidelity of the data provided to the CEC, both those fixed (entity number, branch and account), as well as the variable ones (amount).
On the other hand, the truncation of checks involves a change in the responsibilities of the intervening entities, modifications that will be implemented through the Truncation Agreement between financial entities.
Below are detailed the responsibilities corresponding to the participating entities, either as depositories or drawn, and those pertaining to the Electronic Chambers.
4.1. Of the depository entity.
The depository entity assumes responsibility for its due action in the cases listed below:

Verify the existence of the check and that it complies with current legislation, regarding the formal extrinsic requirements.
Verify the existence of a regular chain of endorsements on the check.
Verify the identity of the depositor and that he has endorsed “for collection” the check.
Verify the corresponding instruments when the depositor acts by mandate or representation.
Comply with the regulation issued for the processing of the check, issued by the CEC, of which it is a client.
Comply with the rules established in the Truncation Agreement regarding the capture and transmission of data.
Maintain the deposit and custody of the original documents during the period established in the Truncation Agreement.
Deliver to the drawn entity within the corresponding deadlines and at the relevant Exchange Point, the non-truncated checks.
Deliver to the drawn entity within the deadlines established in point 3.2.8.2., the original or reproduction of the document in case that it requests it for any reason.

NATIONAL PAYMENTS SYSTEM - CHEQUES
BCRA
Section 4 - Responsibilities of Participants.
Version: 1 COMMUNICATION "A" 4281
Validity:
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Verify the non-existence of a previous rejection stamp.
Retain the information corresponding to the cheques presented to the system during the period established in the Agreement.
Communicate to the drawee entity the cheques rejected for formal defects, so that the penalties established by law can be collected and to comply with the informational requirements of the BCRA.
Deliver to the drawee entity the documents rejected by order of non-payment or judicial order, identifying in them the data of the presenter.
Maintain the stamping and recording of rejection causes for cheques rejected by itself, or on behalf and order of any drawee entity.
Deliver the rejected cheque to the client, except in the case of cheques rejected by order of non-payment or judicial order, in which case they are delivered to the drawee entity, providing the client with a photocopy in their place.
Guarantee the fidelity of the information provided to the system.
Ensure the transmission of files, batches, and individual records in accordance with the defined standards.
Send the information to the clearing houses within the hours they define.
Send a file containing only control records and null value records in case of not having information to compensate. In this way, the clearing house is informed that the entity will not present transactions.

4.2. Of the Electronic Clearing Houses.
With respect to the processing of data, the ECHs must:

Assume responsibility for the information received from the entities and the results of its processing, once the files sent by the entities have been validated and accepted.
Perform the corresponding controls on the transactions received and presented to ensure their integrity and accuracy.
Send the processed information to the recipient entities in a legible manner, ensuring its integrity and accuracy.
Send the information resulting from the clearing to the BCRA within the deadlines and hours defined.
Store the processed information in adequate media, in order to ensure its recovery.

NATIONAL PAYMENTS SYSTEM - CHEQUES
BCRA
Section 4 - Responsibilities of Participants.
Version: 1 COMMUNICATION "A" 4281
Validity:
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Administer security measures for the transmission and reception of information.
Administer the telecommunications network between its own computer center and that of the participating entities.
Provide the necessary information to the entities for the calculation of interbank commission billing.

4.3. Of the Drawee Entity.

Communicate, within the pertinent deadline, the rejection of the cheque for any of the authorized causes.
Pay the cheques that have not been rejected.
Retain, during the period established in the Agreement, the information corresponding to the documents received from the system.
Inform the account holder client, within the pertinent deadline, of the cheques debited from the same.
Communicate to the account holder the cheques rejected for lack of funds and for formal defects.
Inform the BCRA of the cheques rejected for lack of funds and for formal defects.
Retain the information of cheques rejected by order of non-payment at the disposal of the BCRA, for the pertinent period.
Communicate to the BCRA the cases in which the drawer of a rejected cheque has credibly accredited the payment of said cheque within the period fixed by law.
Inform the holder of a cheque rejected for lack of funds and/or formal defects, upon request, of the date and number of the communication of the rejection to the BCRA.
Integrate the rejection stamp at the request of the holder of the cheque in order to identify the drawer thereof. The data to be incorporated into the rejection stamp are the name and address of the signer of the cheque.
Guarantee the fidelity of the information provided to the system.
Ensure the transmission of files, batches, and individual records in accordance with the defined standards.
Send the information to the clearing house within the hours it defines.

NATIONAL PAYMENTS SYSTEM - CHEQUES
BCRA
Section 4 - Responsibilities of Participants.
Version: 1 COMMUNICATION "A" 4281
Validity:
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Send a file containing only control records and null value records in case of not having information to present in the rejected session. In this way, the clearing house is informed that the entity will not present transactions.
Deliver to the depositary entity, within the corresponding deadlines and at the relevant Exchange Point, the non-truncated rejected cheques.

NATIONAL PAYMENTS SYSTEM - CHEQUES
BCRA
Section 5 - Controls to be Performed.
Version: 1 COMMUNICATION "A" 4281
Validity:
14/01/2005

CONTROLS TO BE PERFORMED.
This chapter lists basic and specific controls that the ECH and the entities must perform on the files exchanged electronically, in order to ensure the reliability of the data.

5.1. By the Electronic Clearing Houses.
5.1.1. Basic.

Existence of depositary entities.
Existence of drawee entities.
Entity adhered to the ECH.
Invalid characters.
Mandatory inclusion fields.
Number of batches in the file.
Number of individual and additional records of each batch.
Number of individual and additional records of the file.
Control totals of each batch.
Control totals of the file.

5.1.2. Specific.

Duplicate rejections from drawee and depositary entities.
Detection of duplicate files or batches sent by entities on the same day.

5.2. By the entities.
5.2.1 Entities receiving electronic information.
The entities that receive information from the ECH ("recipient entities"), whether in the capacity of drawee in the case of the presented session, or in the capacity of depositary in the case of the rejected session, must perform at least the following controls:

5.2.1.1. Basic

Invalid characters of the records contained in the files
Information corresponding to the receiving entity.
Number of batches in the file.
Number of individual and additional records of each batch.
Number of individual and additional records of the file.
Control totals of each batch.
Control totals of the file.
Existence of drawee entities.
Mandatory inclusion fields.

5.2.1.2. Specific.

Record counters.
Duplicate transactions.
Valid deadlines for rejections, adjustments, and claims.
Valid causes for rejections and claims.
Matching data between the original transaction and its rejection, adjustment, or claim.
Non-working days.

5.2.2. Entities sending electronic information.
The entities that send information to the ECH ("originating entities"), whether in the capacity of depositary in the case of the presented session, or in the capacity of drawee in the case of the rejected session, must perform at least the following controls:

5.2.3. Basic.

Sequential order of batches and individual records.
Invalid characters.
Legible information.

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BCRA
Section 5 - Controls to be Performed.
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Validity:
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5.2.4. Specific.

Valid deadlines for rejections, adjustments, and claims.
Valid causes for rejections and claims.
Matching data between the original transaction and its rejection, adjustment, or claim.

NATIONAL PAYMENTS SYSTEM - CHEQUES
BCRA
Section 6 - Transactions and Messages.
Version: 1 COMMUNICATION "A" 4281
Validity:
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TRANSACTIONS AND MESSAGES.
6.1. Introduction.
The transactions and messages that will be exchanged electronically by the entities and the ECH will be the following:

In the presented session:
Cheques to be compensated.
Adjustments.
Claims.
Rejections outside of exchange.
In the rejected session:
Rejections of cheques.
Rejections of adjustments.
Rejections of claims.
Responses to rejections outside of exchange.

6.2. File Structure.
The structure of the files has been developed considering the standards of NACHA ("National Automated Clearing House Association"). The files to be exchanged electronically will have the following structure:

File Header.
Batch Header.
Individual Record.
Additional Record.
End of Batch Control.
End of File Control.
The letter M will be used to indicate that it is a mandatory field and the letter O to indicate optional fields.

NATIONAL PAYMENTS SYSTEM - CHEQUES
BCRA
Section 6 - Transactions and Messages.
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Validity:
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Structure of the cheque file.
Sequence of files in NACHA format.
1 per file
1 per batch
1 per batch
1 per batch
1 per file

The File Header, Batch Header, Batch Control, File Control, and Individual Transaction Records are the same in all files, for any type of transaction related to cheques.

6.2.1. File Header.
The File Header identifies the immediate origin of the information, which includes the Transmission Center and the originating entity or entity sending the information (which will be the depositary in the case of the presented session and the drawee in the rejected session). It also includes the Electronic Clearing House. In turn, this record includes the presentation date, presentation time, and file identifier fields, in such a way as to identify it uniquely.

6.2.2. Batch Header.
File Header
Batch Header
Individual Transaction Record
Individual Transaction Record
.
.
.
Individual Transaction Record
End of Batch Control
Batch Header
Individual Transaction Record
Individual Transaction Record
.
.
.
Individual Transaction Record
End of Batch Control
End of File Control

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BCRA
Section 6 - Transactions and Messages.
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The Batch Header identifies the originating entity and the destination entity of the transaction.
This record also indicates the clearing date of the transactions included in the batch.
The information contained in the batch header applies to all individual records contained therein.

6.2.3. Individual Transaction Record.
The Individual Transaction Record contains the information necessary to route the transaction to the destination entity (drawee entity and branch) and the corresponding account. This record includes the number and amount of the cheque to be compensated.

6.2.4. Additional Record.
The Additional Record is used to provide additional information about the transaction included in the individual record.
The inclusion of an additional record is optional, used only in the case that there are multiple reasons for rejection of a cheque.

6.2.5. End of Batch Control.
The End of Batch Control contains the sum of the amounts, records (individual and additional), and control totals of the individual records contained in the batch.

6.2.6. End of File Control.
The End of File Control contains the sum of the amounts, records (individual and additional), and control totals of the batches contained in the file.

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Section 7 - Record Design.
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RECORD DESIGN.
This chapter contains the design of the records contained in the files to be exchanged electronically with the Electronic Clearing House. The records are:

File Header.
Batch Header.
Individual Record of Presentation of Cheques and Adjustments.
Individual Record of Presentation and Rejection of Claims.
Individual Record of Control of Presentation and Rejection of Images.
Individual Record of Rejections Outside of Exchange.
Additional Record of Rejections of Cheques and Adjustments.
Additional Record of Rejections Outside of Exchange.
End of Batch Control.
End of File Control.

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7.1. File Header.
Field 1 2 3 4 5 6 7 8 9 10 11 12 13
Name Record Identifier
Priority Code
Immediate
Destination
Immediate
Origin
Presentation
Date
Presentation
Time
File
Identifier
Record
Size
Factor
Block
Format
Code
Name of Immediate
Destination
Name of Immediate
Origin
Reference
Code
Field
Requirement
M O M O
Type '1' '01' Numeric Numeric AAMMDD HHMM Alphanumeric '094 '10' 1 Alphanumeric Alphanumeric Alphanumeric Length 1 2 10 10 6 4 1 3 2 1 23 23 8 Position 01-01 02-03 04-13 14-23 24-29 30-33 34-34 35-37 38-39 40-40 41-63 64-86 87-94 Description of fields:

Record Identifier.
This code is assigned to identify the type of record:
1 File Header.
Priority Code.
This code was defined for possible future use. Currently, '01' is used in all cases.

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Immediate Destination.
Identifies the destination of the file. When the entity transmits to the clearing house, this field contains:
a) A blank space b) The Electronic Clearing House identifying number in 8 positions c) A zero In the case of the clearing house transmitting, this identifying number will be composed of:
a) A blank space. b) The destination entity number in 4 positions. c) The entity branch number acting as Transmission Center in 4 positions. d) A zero.
Immediate Origin.
Identifies the origin of the file. When the clearing house transmits to the entity, this field contains:
a) A blank space. b) The Electronic Clearing House identifying number in 8 positions. c) A zero.
In the case of the entity transmitting to the Electronic Clearing House, this identifying number will be composed of:
a) A blank space. b) The originating entity number in 4 positions. c) The entity branch number acting as Transmission Center in 4 positions. d) A zero.

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Presentation Date.
This field contains the date on which the file was created.
Presentation Time.
This field contains the time at which the file was created.
File Identifier.
This field allows identifying the different files sent during the day, with letters or numbers (A-Z or 1-9) of a specific entity.
Record Size.
This field would indicate the number of characters contained in each record. Currently, the number '094' is used.
Block Factor.
This field defines the number of physical records that exist in a block (a block is composed of 940 characters). All transmissions between the entities and the clearing house must use the number '10'.
Format Code.
This field is reserved for future use. It must be completed with the value '1'.
Name of Immediate Destination.
This field contains the name of the file destination (Electronic Clearing House/Transmission Center depending on the case).
Name of Immediate Origin.
This field contains the name of the message originator. (Electronic Clearing House/Transmission Center depending on the case).

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Reference Code.
This field is reserved for relevant information from the originator.

Additional Comments.
When a field has more characters than required for the information to be completed, they must be filled with zeros starting from the left margin, in the case of numeric fields, and with right blanks in the case of alphanumeric fields. The alphabetic characters of the alphanumeric fields must always be reported in uppercase.

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7.2. Batch Header.
Field 1 2 3 4 5 6 7 8 9 10 11 12 13
Name
Record Identifier Transaction Class Code Reserved Reserved Reserved Standard Record Type Code Description of the Transaction Presentation Date Maturity Date Reserved Origin Code Identification of the Originating Entity Batch Number Field Requirement M M N/A M Type '5' '200' Alphanumeric Alphanumeric Alphanumeric 'TRC Alphanumeric Numeric AAMM DD '000' Alphanumeric Numeric Numeric Length 1 3 16 20 10 3 10 6 6 3 1 8 7 Position 01-01 02-04 05-20 21-40 41-50 51-53 54-63 64-69 70-75 76-78 79-79 80-87 88-94 Description of fields:

Record Identifier.
5 Batch Header.
Transaction Class Code.
This code identifies a general classification of the type of transactions included in the batch:
200 Debit and credit transactions.
Reserved.
This field is reserved for future uses.

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Reserved.
This field is reserved for future uses.
Reserved.
This field is reserved for future uses.
Standard Record Type Code.
This code allows distinguishing the type of record:
TRC Cheque batches.
Transaction Description:
The originator defines the value of this field to describe the purpose of the transaction. In the case of rejections by the depositary, this field must contain the value "REVERSAL". Code Description. REVERSAL Rejection by the depositary entity. CHEQUES Cheque operations.
Presentation Date.
This field contains the date corresponding to the session in which the file must be transmitted in AAMMDD format.
Maturity Date.
This field contains the clearing date in AAMMDD format.

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Reserved.
This field is reserved for future uses. Currently, it will be completed with '000'.
Origin Code.
This field contains the origin code:
1 Financial entity.
Identification of the Originating Entity:
This field contains the identifying number of the entity generating the transaction (The entity number with 4 characters and the branch number with 4 characters are included). In the case that an entity represents another for the presentation of cheques, this field will be completed with the number of the represented entity in the format previously described.
Batch Number.
This field contains the batch number, determined by the originating entity.

Additional Comments:
When a field has more characters than required for the information to be completed, they must be filled with zeros starting from the left margin, in the case of numeric fields, and with right blanks in the case of alphanumeric fields. The alphabetic characters must always be reported in uppercase.

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7.3. Individual Record of Presentation of Cheques and Adjustments.
Cheque 1 2 3 4 5 6 7 8 9 10 11 12
Name
Record Identifier
Transaction Code Entity to Debit Reserved Account to Debit Amount Document Type/ Cheque Number Postal Code Exchange Point/Depositary Rejection Additional Transaction Information Additional Records Record Counter Field Requirement M Type 6 Numeric Numeric "0" Numeric $$$$$$$$cc Numeric Alphanumeric Alphanumeric Alphanumeric Numeric Numeric Length 1 2 8 1 17 10 15 6 16 2 1 15 Position 01-01 02-03 04-11 12-12 13-29 30-39 40-54 55-60 61-76 77-78 79-79 80-94 Description of fields:

Record Identification.
6 Individual Record.
Transaction Code.
This code indicates the type of transaction.
Presentation and other compensable documents 27 Depositary Entity Rejection 22 Adjustment 27 Drawee Entity Rejections 26 Adjustment Rejections 26

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This field contains the identifying number of the destination entity of the transaction. (The entity number with 4 characters and the branch number with 4 characters are included). The branch will be completed with 0000 when it is a time deposit certificate.

Reserved.
This field is reserved for future uses. It must be completed with zeros ("0").
Account to Debit.
This field indicates the account to be debited and must contain the exact data thereof. It includes numbers from 0 to 9, aligned to the right. It will be completed with 88888888888 when it is an adjustment related to a cheque that exceeds eight integer digits. It will be completed with 77777777777 when it is a time deposit certificate. It will be completed with 99999999999 when it is a certified cheque, drafts, or payment orders.
Amount.
This field indicates the amount to be debited from the account detailed above. When said amount exceeds eight integer digits, transactions similar to adjustments will be sent.
Document Type/Cheque Number.
This field identifies the document type in the first two positions and the cheque number to which the transaction refers in the following positions. 00 Cheques.
Postal Code.

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This field indicates the postal code of the destination entity and shall be completed as follows: with two zeros ("0") on the left and with the code by which the destination plaza of the check is identified in the last 4 positions.

9. Depositary exchange/rejection point.
This field contains the identification of the exchange point where the physical document is presented, and shall be completed as follows: the first 4 positions shall be completed with the identification code of the exchange point (case 1: with two zeros and the chamber code - two positions-; case 2: in the postal code of the exchange point - four positions-). In the event of a rejection by the depositary entity, the following 4 (four) positions shall be completed with the rejection reasons –two positions for each one without the "R"-, the remaining 8 positions to the right shall be completed with spaces.

10. Additional transaction information:
This field allows identifying the currency of the affected account and the type of transaction being reported.
The first position of this field will contain the type of currency of the affected account:
0. Pesos.
The second position will indicate the type of transaction being reported or rejected:
0. Check and other compensable documents.
1. Adjustment.

11. Additional records.
This field indicates whether there are additional records ('1' or '0' respectively).

12. Record counter ("Trace number").

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This field includes the identification number of the origin entity in 8 positions (4 for the entity and 4 for the branch) and then in positions 9 to 15 a unique ascending sequential number in all sessions of the day for each record sent. This implies that the record counter number cannot be repeated in different files transmitted throughout the day. These 15 positions shall be ordered sequentially within each batch.

In the event that an entity represents another for the presentation of checks, the branch number shall be replaced by a "9" in the fifth position and the number of the represented entity in the following positions.

Additional comments:
When a field has more characters than required for the information to be completed, they shall be filled with zeros starting from the left margin, in the case of numeric fields, and with spaces to the right in the case of alphanumeric fields. Alphabetic characters shall always be reported in uppercase.

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7.4. Additional record of check rejections and adjustments.

Field	1	2	3	4	5	6	7	8
Name	Record Identifier	Additional Record Type Code	First Rejection Reason	Counter of Original Transaction Record	Communication Number	Entity of the Original Transaction	Other Rejection Reasons	Record Counter
Field Requirement	M	O	M	O	M
Type	7	99	Alphanumeric	Numeric	Alphanumeric	Numeric	Alphanumeric	Numeric
Length	1	2	3	15	6	8	44	15
Position	01-01	02-03	04-06	07-21	22-27	28-35	36-79	80-94

Description of fields:
1. Record Identifier.
7. Additional record.

2. Additional Record Type Code.
This code indicates the type of additional record. In this case, the code '99' is used.

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First Rejection Reason.
The following table contains the reasons (identified by using a code) for which a document or its payment is rejected, in accordance with the provisions of current regulations:

Code	Description	Explanation
R06	Formal defects	This code will be used when formal vices are verified in the check, i.e., those incurred in the creation of the document such as: the drawer's signature differs manifestly from that recorded in the drawee entity's records; signer without valid power of attorney valid at the time of issuance; lack of additional signatures to the existing one(s) when the signature of more than one person is required; signer disqualified at the time of issuance; draw on the drawer unless it is a check drawn between different establishments of the same drawer and the social contract expired at the time of issuance. In the case of non-conformity in the receipt of checkbooks, code R35 will be used.
R10	Insufficient available funds	This code will be used when the account on which the transaction falls does not have sufficient funds to cover it.
R16	Titles that lack value as checks	This code will be used when any of the specifications contained in articles 2, items 1 to 6, 4th, 23 and 54, items 1 to 9, of the Check Law are not included. Likewise, it will be used when: 1) there are strikethroughs, or amendments not saved by the drawer, in the case that the drawer's signature does not match that of who saves it on the back, code R38 will be used; 2) when not drafted in the national language; 3) contain advertising inscriptions; 4) CPD maturity date prior to or equal to the issuance date.
RXX	Rejection of CPD registration	As established in current regulations.

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The following table contains other reasons for document return, in accordance with current regulations:

Code	Description	Explanation
R01	Account seized by judicial order	This code will be used in the case that the account is seized by judicial order and as long as this circumstance has been ignored by the drawer at the time of issuing the check and it would have been possible to attend to it with the existing balance in the account if the precautionary measure had not been ordered.
R02	Account closed by judicial order	This code will be used in the case that the account is closed by judicial order, with funds, to return checks issued prior to the closure and within the legal validity period. For the case of truncation, this code will be used for the rejection of the corresponding transaction.
R08	Report of loss, theft, or adulteration of check (order not to pay)	This code will be used by banks when a check or debit has an order not to pay given by the client receiving the debit in their account, according to current regulations.
R11	Containing endorsements exceeding the established limit	This code will be used in the case that checks contain endorsements that exceed the limit established in point 5.1.1 of the regulations on Bank Current Account Regulation, with the established exceptions.
R21	Preventive bankruptcy of the drawer	This code will be used in cases where the preventive bankruptcy of the drawer is declared judicially and only with respect to deferred payment checks that meet the conditions mentioned in point 6.4.6.5 of the regulations on Bank Current Account Regulation.
R33	Check drawn on formulas from notebooks not delivered by the drawee bank (check forgery)	This code will be used when the check is not paid or registered because it is drawn on formulas from notebooks not delivered by the bank for the drawee account.
R36	Adulteration of the check	This code will be used when the pre-printed data and/or original written texts of the check have been modified.
R37	Legal validity period expired	This code will be used when the presentation date of a check has expired.
R38	Signature does not match	This code will be used when the drawer's signature does not match that of who saves it on the back.

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Code	Description	Explanation
R44	Stolen document	This code will be used for values stolen or lost from checkbooks not delivered to clients.
R81	Force majeure	This code will be used by banks when there are force majeure causes at the time of presenting the check that prevent its payment. For the case of truncation, this code will be used for the rejection of the corresponding transaction.
R83	Irregularity in the endorsement chain	This code will be used when an irregularity is verified in the endorsement chain of the check due to: endorsements do not succeed, missing first endorsement, missing signature for deposit, check not to order with more than one endorsement.
R97	Advance presentation date (CPD)	This code will be used in the case that the depositary bank presents for payment a CPD with a maturity date subsequent to the presentation.

The following table contains the reasons for rejection of transactions presented for compensation:

Code	Description	Explanation
R03	Non-existent account	This code will be used by the drawee entity in the case that the account on which the transaction falls cannot be identified.
R04	Invalid account number	This code will be used by the drawee entity in the case that the account on which the transaction falls has a format error.
R11	Non-compliance with truncated check claim	This code will be used by the drawee entity when the depositary entity has not complied in time with the claim for delivery of truncated checks from the drawee.
R12	Rejection of claim for check already delivered	This code will be used by depositary banks to reject a claim for a truncated check that has already been delivered to the drawee bank.
R13	Non-existent destination branch/entity	This code will be used by the drawee entity when it is impossible to identify the entities to which transactions are sent or from which they are received.
R17	Format error	This code will be used by the chambers to reflect format errors. It applies to errors in mandatory, fixed, or determined type fields (numeric or alphanumeric).
R18	Incorrect compensation date	This code will be used by the chambers when the compensation date does not coincide with the deadlines defined for each product.
R19	Incorrect amount	This code will be used by the drawee entity when the amount of a rejection does not coincide with the amount of the original transaction.
R24	Duplicate transaction	This code will be used by the drawee entity when they receive duplicate transactions.
R25	Error in additional record	This code will be used by the chambers when there is a problem with the additional records, for example when an additional record is missing when it is mandatory, when the presence of the additional record is indicated and it does not exist, etc.

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R26 Error for mandatory field
This code will be used by the chambers when a mandatory field is blank or with invalid characters.

R27 Error in record counter
This error will be used by the chambers when there is a problem in the sequence of the record counter.

R31 Chamber unwind (Unwinding)
This code will be used by the chambers when documents must be rejected due to the need to reprocess the chamber, given that a bank did not cover the debtor position. For the case of truncation, this code will be used for the rejection of the corresponding transaction.

R34 Emergency situations
This code will be used by the drawee entity when they reject documents due to the occurrence of all those situations of external origin to the financial entities and of grave effects such as: Flood, tornado, route cuts, etc.

R35 Lack of conformity
This code will be used by the drawee entity when there is a lack of conformity in the receipt of checkbooks.

R39 Amount does not match the one registered by the drawee bank This code will be used by the drawee entity in the case of truncated CPDs registered.

R75 Date error
This code will be used by the chambers when there are format errors in the date.

R76 Error in field 11 Batch Header
This code will be used by the chambers when there is an error in the origin code.

R77 Error in field 4 Individual Record
This code will be used by the chambers when in field 4 (Reserved) of the Individual Record contains a value different from "0" (zero).

R78 Error field 5 Individual Record
This code will be used by the chambers when there is a format error in the account number.

R79 Error in field 7 Individual Record
This code will be used by the drawee entity and by the chambers when this field contains a format error or by the Banks when the reported check number is erroneous.

R80 Error field 3 of the Additional Record
This code will be used by the chambers when the information included in this field has been standardized and does not match the necessary data or by the chambers when no information is included in this field.

R82 Missing check
This code will be used by the drawee entity when the physical document is missing.

R87 Invalid currency
This code will be used by the chambers when in field 10 1st byte a data different from "0" or "1" is reported.

R88 Error field 2 Individual Record
This code will be used by the chambers when an erroneous transaction code is reported.

R90 Transaction does not correspond due to non-existence of original transaction This code will be used by the chambers when they receive claims on non-existent checks or by the chambers when they receive rejections on non-existent transactions.

R91 Bank code incompatible with transaction currency This code will be used by the chambers when the entity numbers are not expressed in all cases in the same currency. Example: Originator Entity No + 500 and entity to debit/credit Entity No without adding 500.

R92 Maximum number of deferral orders exceeded This code will be used by the chambers when a drawee entity exceeds the maximum number of deferral orders of checks.

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R93 Non-working day
This code will be used by those drawee banks that cannot process the documents received for any branch, in whose plaza there is a local holiday. For the case of truncation, this code will be used for the rejection of the corresponding transaction.

R94 Incorrect postal code
This code will be used by the drawee entity when the postal code (field 8 of the individual record) is incorrect.

R96 Depositary entity errors
This code will be used by the entities in the case that the bank stamp is missing, the banking responsibility signature is missing, and when a second presentation does not correspond.

New rejection reasons for transactions will be added to this list.

Counter of original transaction record.
This field carries the record counter of the transaction that is being rejected.
Communication Number.
This field will include the communication number of the entity's rejection to the BCRA in its 6 positions.
Communication Number
This field will include the Communication Number of the Entity's rejection to the BCRA in its 6 positions.
Entity of the original transaction.
It is completed with the entity and branch code in four positions of who generates the rejection.
Other rejection reasons.
Other rejection reasons may be indicated, which must be left-aligned respecting the following rule:

R followed by rejection in two positions.
No separators of any kind shall be used.
The remaining positions shall be completed with blank spaces.

Record Counter.
It is completed with the same counter of the corresponding individual record (field 12).

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7.5. Individual record of claim presentation and claim rejection.

Field	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16
Name	Record Type	Depositary Bank	Drawee Bank	Drawee Branch	Postal Code	Check Number	Account Number	Amount	Comp. Date	Check Date	Reserved	Transaction Type	Reserved	Exchange Point	Claim Data	Reserved
Field Requirement	M
Type	Numeric	Alphan.	Numeric
Length	1	3	4	8	11	10	6	6	15	1	53	4	1	3
Position	01-01	02-04	05-07	08-10	11-14	15-22	23-33	34-43	44-49	50-55	56-70	71-71	72-124	125-128	129-129	130-132

Identification of record type:
0 Claim Presentation
9 Claim Rejection
Depositary Bank:
It will be completed with the depositary bank code in 3 positions included in positions 81 to 83 of the NACHA individual record of the check in its presentation.
Drawee Bank:
It will be completed with the drawee bank code in 3 positions included in positions 5 to 7 of the NACHA individual record of the check in its presentation.
Drawee Branch:
It will be completed with the drawee branch code in 3 positions included in positions 8 to 11 of the NACHA individual record of the check in its presentation.
Postal Code:
Positions 57 to 60 of the NACHA individual record of the check in its presentation will be used.

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Check Number:
It will be completed with the check number in 8 positions included in positions 47 to 54 of the NACHA individual record of the check in its presentation.
Account Number:
It will be completed with the account number in 11 positions included in positions 19 to 29 of the NACHA individual record of the check in its presentation.
Amount:
Positions 30 to 39 of the NACHA individual record of the check in its presentation will be used.
Compensation Date:
It is the maturity or compensation date of the claim. Eighth business day of the claim presentation. Format YYMMDD.
Check Date:
It is the presentation date of the document being claimed. Format YYMMDD.
Reserved:
It will be completed with 15 zeros.
Transaction Type:
0 Claim Presentation
1 Non-existent account
2 Invalid account number
3 Check already delivered
4 Incorrect amount
5 Duplicate transaction
6 Incorrect presentation date
7 Non-existent check.

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Section 7 - Record Design.
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Reserved:
For both the presentation and the rejection of the claim, it shall be completed with spaces to the right to cover the 53 positions of that field.
Exchange Point:
It will be completed with the exchange point code in 4 positions included in positions 61 to 64 of the NACHA individual record of the check in its presentation.
Claim Data:
0 Original
1 Image
Reserved:
It will be completed with zeros.

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Section 7 - Record Design.
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7.6. Individual record of image presentation control and image rejection.

Field	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16
Name	Record Type	Depositary Bank	Drawee Bank	Drawee Branch	Postal Code	Check Number	Account Number	Amount	Comp. Date	Check Date	Reserved	Transaction Type	Reserved	Exchange Point	Claim Data	Reserved
Field Requirement	M
Type	Numeric	Alphan.	Numeric
Length	1	3	4	8	11	10	6	6	15	1	53	4	1	3
Position	01-01	02-04	05-07	08-10	11-14	15-22	23-33	34-43	44-49	50-55	56-70	71-71	72-124	125-128	129-129	130-132

Record Type:
1 Presentation of the claimed image
2 Rejection of image
Depositary Bank:
It will be completed with the depositary bank code in 3 positions included in positions 2 to 4 of the claim presentation record.
Drawee Bank:
It will be completed with the drawee bank code in 3 positions included in positions 5 to 7 of the claim presentation record.
Drawee Branch:
It will be completed with the drawee branch code in 3 positions included in positions 8 to 10 of the claim presentation record.
Postal Code:
Positions 11 to 14 of the claim presentation record will be used.

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.
Section 7 - Record Design.
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Check Number:
It will be completed with the check number in 8 positions included in positions 15 to 22 of the claim presentation record.
Account Number:
It will be completed with the account number in 11 positions included in positions 23 to 33 of the claim presentation record.
Amount:
Positions 34 to 43 of the claim presentation record will be used.
Compensation Date:
Date of the claim compensation. Positions 44 to 49 of the claim presentation record will be used.
Check Date:
Date of presentation of the document being claimed. Positions 50 to 55 of the claim presentation record will be used.
Reserved:
It will be completed with 15 zeros.
Transaction Type:
It will be used
0 For the presentation of the claimed image.
1 For the rejection of the image because the front and back of the same check do not correspond.
2 For the rejection of an image because it is illegible.
3 For the rejection of an image that does not correspond.
4 For the rejection of an image because it is incomplete.
Image Name/Reserved
-For the presentation of the claimed image, it will be completed with the name of the same or pointer associated with the control record, with the format Line-of-scan.TIF (29 characters of the CMC7, without the document type nor the amount). -For the rejection of the image, it will be completed with spaces to the right to cover the positions of this field.

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Section 7 - Record Design.
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Exchange Point:
It will be completed with the exchange point code in 4 positions included in positions 125 to 128 of the claim presentation record.
Claim Data:
Fixed "1"
Reserved:
It will be completed with zeros.

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Section 7 - Record Design.
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7.7. Individual rejection record outside of exchange, rejection response records outside of exchange.

Field	1	2	3	4	5	6	7	8	9	10	11	12
Name	Record Identifier	Transaction Code	Destination Entity	Reserved	Affected Account	Amount	Check Number / Date of original transaction presentation	Rejection Data / Postal Code	Exchange Point	Additional Transaction Information	Additional Records	Record Counter
Field Requirement	M
Type	'6'	Numeric	Numeric	'0'	Numeric	Numeric	$$$$$$$	$cc	Numeric	Numeric	Alphanumeric	Alphanumeric	Numeric	Numeric
Length	1	2	8	1	17	10	15	6	16	2	1	15
Position	01-01	02-03	04-11	12-12	13-29	30-39	40-54	55-60	61-76	77-78	79-79	80-94

Field Descriptions:

Record Identifier.
6 Individual Record
Transaction Code.
This code indicates the type of transaction.
- Out-of-Exchange Rejection: 28

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Section 7 - Record Design.
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Out-of-Exchange Rejection Response: 26

Destination Entity.
This field contains the identifying number of the entity receiving the record.
Reserved
This field is reserved for future use. This field is filled with zeros ("0").
Affected Account
This field indicates the affected account and must contain the exact data thereof. It includes numbers from 0 to 9, aligned to the right.
Amount.
This field indicates the amount of the check being rejected.
Check Number / Date of original transaction presentation.
This field contains the check number and the date of presentation of the original transaction and will be completed as follows:
- The first position must be filled with "0".
- In the following 8 (eight) positions, the number of the check being rejected must be indicated.
- In the last 6 (six) positions, the original presentation date of the document will be reported in the format YYMMDD.
Rejection Data / Postal Code.
This field will be completed with the rejection data and the postal code according to the following description:
The first two positions will be arranged as indicated below:
It will be completed with any of the available rejection reasons for the drawn entity, excluding the letter "R".

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Section 7 - Record Design.
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In the last 4 (four) positions, the postal code of the receiving entity is indicated, through which the destination location is identified.

Exchange Point.
This field contains the identification of the exchange point where the physical document is presented, and will be completed as follows: the first 4 positions will be filled with the identifying code of the exchange point (case 1: with two zeros and the exchange code -two positions-, case 2: with the postal code of the exchange point -four positions-). When out-of-exchange rejections are reported, it will be filled with "0000" and spaces to the right.
Additional Transaction Information.
This field allows identifying the currency of the affected account and the type of transaction being reported.
The first position of this field will contain the type of currency of the affected account:
- 0 Pesos
  The second position will indicate the type of transaction being reported or rejected:
- 4 Out-of-exchange Rejection.
Additional Records.
This field indicates whether there are additional records ('1' or '0' respectively).
Record Counter ("Trace number")
This field includes the origin entity's identification number in 8 positions (4 for the entity and 4 for the branch) and then in positions 9 to 15 a unique ascending sequential number for each record sent in a file. This implies that the record counter number cannot be repeated in different files. These 15 positions must be ordered sequentially within each batch. In the event that an entity represents another for the presentation of checks, the branch number will be replaced by a "9" in the fifth position and the number of the represented entity in the following positions.

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Additional Comments:
When a field has more characters than required to complete the information, they must be filled with zeros starting from the left margin, in the case of numeric fields, and with blanks to the right in the case of alphanumeric fields. Alphabetic characters must always be reported in uppercase.

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Section 7 - Record Design.
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7.8. Additional record of rejection responses outside of exchange.

Field	1	2	3	4	5	6	7	8
Name	Record Identifier	Additional Record Type Code	First Rejection Reason	Original Transaction Record Counter	Reserved	Entity of the Original Transaction	Other Rejection Reasons	Record Counter
Field Requirement	M	N/A	M	O	M
Type	'7'	'99'	Alphanumeric	Numeric	Alphanumeric	Numeric	Alphanumeric	Numeric
Length	1	2	3	15	6	8	44	15
Position	01-01	02-03	04-06	07-21	22-27	28-35	36-79	80-94

Field Descriptions:

Record Identifier.
7 Additional Record.
Additional Record Type Code.
This code indicates the type of additional record. In this case, the code '99' is used.
Rejection Reason.
This field describes the reason why a transaction is rejected by means of using a code:

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Code	Transaction	Description	Explanation
R41	Out-of-exchange Rejections	Non-existent Check	This code will be used when the indicated check does not exist.
R42	Out-of-exchange Rejections	Acceptance of out-of-exchange rejection	This code will be used when the out-of-exchange rejection is accepted.
R43	Out-of-exchange Rejections	Non-acceptance of out-of-exchange rejection	This code will be used when the out-of-exchange rejection is not accepted.
R82	Out-of-exchange Rejections	Missing Check	This code will be used when the check for the rejection is missing.

Original Transaction Record Counter.
This field carries the record counter of the original transaction (Record Counter of the claim).
Reserved
This field is reserved for future use. It is completed with blank spaces.
Entity of the Original Transaction.
This field contains the identification of the entity originating the rejection/response.
Other Rejection Reasons.
This field describes other reasons, in addition to the main one, for which a transaction is rejected. The codes to be used are the same detailed above.

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Section 7 - Record Design.
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Record Counter ("Trace number").
It is completed with the same record counter as the individual record (field 12).

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7.9. Batch End Control

Field	1	2	3	4	5	6	7	8	9	10	11
Name	Record Identifier	Transaction Class Code	Total Number of Individual / Additional Records	Control Totals	Total Sum of Batch Debits	Total Sum of Batch Credits	Reserved	Reserved	Reserved	Origin Identification	Batch Number
Field Requirement	M	N/A	M	M
Type	'8'	'200'	Numeric	Numeric	$$$$$$$$ $$cc	$$$$$$$$ $$cc	Alphanumeric	Alphanumeric	Blank	Numeric	Numeric
Length	1	3	6	10	12	12	10	19	6	8	7
Position	01-01	02-04	05-10	11-20	21-32	33-44	45-54	55-73	74-79	80-87	88-94

Field Descriptions:

Record Identifier.
8 Batch End Control
Transaction Class Code.
This code identifies a general classification of the type of transactions included in the batch:
- 200 Debit and Credit Transactions
Number of Individual and Additional Records.
This field contains the total number of individual and additional records that exist in the batch.

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Control Totals.
This field contains the sum of the "Entity to be debited/credited" field of the individual records of the batch.
Total Sum of Batch Debits.
This field contains the sum of the amounts of the debits included in the batch. In the event that the sum exceeds the number of available characters, another batch must be generated.
Total Sum of Batch Credits.
This field contains the sum of the amounts of the credits included in the batch. In the event that the sum exceeds the number of available characters, another batch must be generated.
Reserved.
This field is reserved for future use.
Reserved.
This field is reserved for future use.
Reserved.
This field is reserved for future use.
Identification of the Origin Entity.
This field contains the identifying number of the origin entity of the record (The entity number is included with 4 characters and the branch number with 4 characters).
Batch Number
This field contains the batch number, determined by the origin entity, which must be ascending.

Additional Comments:

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

Section 7 - Record Design.
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When a field has more characters than required to complete the information, they must be filled with zeros starting from the left margin, in the case of numeric fields, and with blanks to the right in the case of alphanumeric fields. Alphabetic characters must always be reported in uppercase.

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7.10. File End Control.

Field	1	2	3	4	5	6	7	8
Name	Record Identifier	Number of Batches	Number of Blocks	Total Number of Individual and Additional Records	Control Totals	Total Sum of File Debits	Total Sum of File Credits	Reserved
Field Requirement	M	N/A
Type	'9'	Numeric	$$$$$$$$$$ cc	$$$$$$$$$$ cc				Blank
Length	1	6	6	8	10	12	12	39
Position	01-01	02-07	08-13	14-21	22-31	32-43	44-55	56-94

Field Descriptions:

Record Identifier.
This code is assigned to identify the type of record:
- 8 File End Control
Number of Batches.
This field contains the total number of batches contained in the file.
Number of Blocks.

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Section 7 - Record Design.
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This field contains a total of blocks of the file. A block is composed of 940 characters, that is, 10 records would form a block. For this count, all records are considered, from the file header to the file end control. When the number of records is not a multiple of 10, this total will be calculated as follows:

Up to 10 records: 1
Up to 20 records: 2,
And if it were 21 records: 3

Number of Individual and Additional Records. This field contains the total number of individual and additional records that exist in the file.
Control Totals.
This field contains the sum of the "Control Totals" field of the control records of all batches.
Total Sum of File Debits.
This field contains the sum of the amounts of the debits included in the file. In the event that the sum exceeds the number of available characters, another file must be generated.
Total Sum of File Credits.
This field contains the sum of the amounts of the credits included in the file. In the event that the sum exceeds the number of available characters, another file must be generated.
Reserved
This field is reserved for future use.

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Section 7 - Record Design.
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7.11. Transaction Encoding and Check Messages

Transaction	Check Field 3 (2 byte)	Check Field 10
Presentation of checks and other compensable documents.
Drawee entity rejection.
Depositary entity rejection.
Adjustment.
Adjustment rejection.
Out-of-exchange rejection.
Out-of-exchange rejection response.
TRC	27	0
REVERSAL	26	1
	22	4
	27	4
	26
	28
	26

B.C.R.A.
Version: COMMUNICATION "A" 4281
Validity: 14/01/2005
Page

ORDERED TEXT ORIGIN STANDARD Observations

Point	Paragraph	Com.	Annex or Chapter
1.1	"A" 2559	Checks
2.1.	"A" 2559	"
2.2.	"A" 2559	"
2.3	"A" 2559	"	2.3.1. S/Com. 4281
2.4	"A" 2559	"
3.1	"A" 2559	"	3.1.3 S/Com. "A" 2795
"A" 2559	"	3.1.4 S/Com. "A" 2795 and 4281
3.2.	"A" 2559	"	3.2.7 S/Com. "A" 4281
"A" 2559	"	3.2.8. S/Com. "A" 4281
3.3.	"A" 2559	"	3.3.7 S/Com "A" 4281
4.1	"A" 2559	"	S/Com. "A" 4281
4.2.	"A" 2559	"
4.3.	"A" 2559	"	S/Com. "A" 4281
5.1.	"A" 2559	"
5.2.	"A" 2559	"
6.1.	A" 2559	"
6.2.	A" 2559	"
7.1.	"A" 2559	"
7.2.	"A" 2559	"	S/Com. "A" 2723
7.3.	"A" 2559	"	S/Com. ”A” 2795 and 2857
7.4.	"A" 2559	"	S/Com. "A" 2819 and 4281
7.5	"A" 2559	"	S/Com. "A" 4281
7.6.	"A" 2559	"	S/Com. "A" 4281
7.7.	"A" 2559	"
7.8.	"A" 2559	"
7.9.	"A" 2559	"
7.10.	"A" 2559	"

Circular SINAP 1-4: Organized Text on the National Payments System - Operational Instructions - Checks

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

7.7. Individual rejection record outside of exchange, rejection response records outside of exchange.

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

7.8. Additional record of rejection responses outside of exchange.

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

7.9. Batch End Control

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

7.10. File End Control.

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

NATIONAL PAYMENTS SYSTEM - CHECKS B.C.R.A.

7.11. Transaction Encoding and Check Messages

Lineage: Amended

Timeline

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