• About
  • Offices
  • Careers
  • News
  • Students
  • Alumni
  • Payments
  • EN | FR
Background Image
Bennett Jones Logo
  • People
  • Expertise
  • Knowledge
  • Search
  • FR Menu
  • Search Mobile
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
View all
Practices
Corporate Litigation Regulatory Tax View all
Industries
Capital Projects Energy Funds & Finance Mining View all
Advisory
Crisis & Risk Management ESG Strategy and Solutions Governmental Affairs & Public Policy
View Client Work
International Experience
Insights News Events New Energy Economy Series
Business Law Talks Podcast Economic Outlook Class Actions: Looking Forward Quarterly M&A Insights
ESG & the CIO Subscribe
People
Practices
Industries
Advisory Services
Client Work
About
Offices
News
Careers
Insights
Law Students
Events
Search
Alumni
Payments
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
 
Blog

CPA issues Amendments to Electronic Data and Document Rules and Standards

April 23, 2013

The Canadian Payments Association has issued amendments to Automated Clearing and Settlement System (ACSS) Rules and Standards, which came into effect on April 22, 2013.

The rules that were amended include RULE E3, which governs the Exchange of credit-driven Canadian dollar electronic data interchange (EDI) Payment Items amongst Canadian financial institutions, for the purpose of Clearing and Settlement. Part I sets out the general rules relating to the Exchange of such Items for the purpose of Clearing and Settlement (including systems, software maintenance and disaster recovery), and Part II sets out the technical specifications applicable to the Exchanges.  The amendments deal with the Direct Participant's reporting obligations to the CPA in the event of encountering a Severity 1 Contingency Situation.  A Severity 1 Contingency Situation occurs when the Direct Participant cannot receive or process EDI Transmissions.

Amendments were also made to Standard 014, the Clearing Replacement Document Design Standard, which sets out the minimum mandatory requirements for the creation and use of Clearing Replacement Documents (CRDs).  Clearing Replacement Document or CRD means a form of Image Printout that meets the specifications in Standard 014, and which may be used for presentment and return purposes in place of an original paper Payment Item in accordance with Rule A10.  This standard will ensure that all CRDs that are generated for the purpose of replacing an original paper payment item (e.g. a cheque) for presentment to a Drawee may be processed accurately and efficiently by the Drawee.

In addition to financial institutions, Mobile payments processors and software developers need to ensure the images of payment items created by mobile devices will meet the technical requirements of Standard 014.

Download PDF

Celebrating our Centennial Chronicle

Related Links

  • Insights
  • Media
  • Subscribe

Recent Posts

Blog

The Ontario Court of Appeal Confirms the Narrow Confines [...]

June 01, 2023
       

Blog

Ontario’s Dismissal for Delay Regime—the Year in Review

June 01, 2023
       

Blog

Securities Class Actions Round-Up

June 01, 2023
       

Blog

Developments in General Causation Methodologies for Class Certification

June 01, 2023
       

Blog

The Lack of Present Injuries and Reliable Scientific [...]

June 01, 2023
       
Bennett Jones Centennial Footer
Bennett Jones Centennial Footer
About
  • Leadership
  • Diversity
  • Community
  • Innovation
  • Security
  • History
Offices
  • Calgary
  • Edmonton
  • Montréal
  • Ottawa
  • Toronto
  • Vancouver
  • New York
Connect
  • Insights
  • News
  • Events
  • Careers
  • Students
  • Alumni
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
© Bennett Jones LLP 2023. All rights reserved.
  • Privacy Policy
  • Disclaimer
  • Terms of Use
Logo Bennett Jones