RE: Re: [ubl] Formal proposal for the UBL Payments and Finance Subcommittee

Title: [External] Re: [ubl] Formal proposal for the UBL Payments and Finance Subcommittee

Ken, I will make either day work. Let me know. Regards, Todd

-----Original Message-----

From: Kenneth Bengtsson []

Sent: Wednesday, May 03, 2017 09:58 PM Central Standard Time

To: G. Ken Holman; Universal Business Language

Subject: [External] Re: [ubl] Formal proposal for the UBL Payments and Finance Subcommittee

Hi Ken

I can make Monday at 1400 UTC. Friday I would be able to make at 1500 but not before. I’ll have a look at the charter over the next couple of days.

Best regards,

Kenneth

On 5/3/17, 9:20 PM, " on behalf of G. Ken Holman" < on behalf of > wrote:

    The following fulfills the obligations on our committee in the

    creation of a new subcommittee.  I apologize that this did not get

    properly covered in our meeting this morning when it came to mind to

    create the committee sooner rather than later, but we need to polish

    this before it is accepted by TC Administration, as they need such

    detail and they need explicit acceptance of the detail.

   

    A vote on the details below will be held at our next meeting,

    schedule for May 17, 2017, if not before.

   

    First, though, what edits need we make below?  The statement of

    purpose has to be improved a lot because I don't have any depth in

    the topic to write this properly.  I'm using the Pre-Award

    Subcommittee as a template:

   

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

   

    Can you please let me know (ASAP and off list) if you are available

    for a 5-minute UBL TC meeting Friday May 5, 14:00UTC or Monday May 8,

    14:00UTC to vote on and approve the following as a motion for

    creating the new subcommittee.  If so, then on Thursday I will

    formally call for the meeting if the edits for below are done.

   

    Thanks!

   

    . . . . . . Ken

   

    Proposed charter straw-man for consideration:

   

    UBL Payments and Finance Subcommittee

   

    Identifying requirements for standardized UBL document types for

    processes related to making payments and enabling financing.

   

    Proposed co-chairs:

   

       Kenneth Bengtsson, Individual Member

       Todd Albers, Federal Reserve Bank of Minneapolis

   

    Statement of purpose:

   

    The culmination of the processes currently defined for procurement in

    UBL end in the issuance of the invoice and use of the remittance

    advice.  But there are processes that are triggered by the existence

    of an invoice, and these involve the participation of roles that are

    not currently recognized in existing UBL processes.

   

    Considering the availability of standardized documents already in the

    area of payments, the ISO 20022 specification standardizes concepts

    and information items, but does not standardize the assembly of these

    items into well-defined formal messages for document

    interchange.  Moreover, the available information items do not

    accommodate helpful information from the procurement process leading

    up to the issuance of the invoice.  Building UBL documents in harmony

    with ISO 20022 satisfies the established user-base of UBL's common

    library in other UBL documents while ensuring the information can be

    transmitted to systems that may already be operating with ISO 20022.

   

     From a processing perspective it is important to have the invoice

    document in its role in procurement distinct from payments and

    financing documents because of the roles involved in working with the

    documents and the processes that are engaged with those

    documents.  Other examples found internationally of the invoice

    conflate procurement and payment information in a single document

    that can be difficult to work with by all parties.

   

    All information exchanged during payments and financing must be

    trusted to ensure the integrity of the process. This requirement is

    often supported by legislation.

   

    The UBL Payments and Finance Subcommittee is tasked with identifying

    requirements for the development and implementation of standardized

    UBL document types for payments- and finance-related processes that

    have the potential to bridge UBL procurement systems to banking

    systems and other systems supporting the handling of payments and/or

    financing of invoices.

   

    Scope of Work

   

    1. To liaise with governments, industry, and organizations

    responsible for payments and finance to identify business and legal

    requirements for associated processes.

   

    2. To develop, document and maintain the semantic conceptual models

    for the UBL Payment and Finance package within the UBL package as a

    whole. This may include identifying suitable code lists.

   

    3. To liaise regarding the payment and finance models with other

    subcommittees in UBL as required.

   

    4. To foster implementations of UBL for payment and finance through

    coordination, guidance, and responsiveness to queries in order to

    test the viability of UBL implementations in real-world scenarios.

    For example, the Web Payments Working Group at the W3C.

   

    5. To develop informative materials as an aid to developers of UBL

    based applications and interfaces.

   

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

   

    The pace of development will attempt to keep up with the release of

    new versions of UBL, beginning with UBL 2.3.

   

    Deliverables:

   

    List of Deliverables

   

    1. UBL payments and finance process model(s)

   

    2. UBL payments and finance document model(s)

   

    3. UBL package documentation of the payments and finance models

   

    Possible Deliverables

   

    4. Descriptions of representative payments and financing scenarios

   

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