Monday Tickets
This ticket is entered for requesting payment/s from the fund.
What is the 'Payment Request Form' otherwise known as the PRF?
A Payment Request Form for a Reissues Week is due by EOB of this day of the week
What is Wednesday?
This is how often the bank rec is updated.
What is a monthly occurrence, sometimes more frequently if there is a large distribution underway?
This internal ops group must be copied on all emails to this vendor.
Who are the Banking Team and Digital Disbursements (DD)?
In this bank account, Banking can only search receivables and payables, but cannot make any payments from it as we have a read-only view.
What is KSA's BofA operating account?
Various QSF payments require client approval. Two examples of which are these...
What are KSA invoices, experts/mediators, class counsel, class members?
This claimant payment dollar threshold is usually flagged by Banking when we see it on the calc files.
What is $600?
Generally, a project has one or two of these that house the funds.
What are bank accounts (i.e., the distribution and escrow account)?
ePayment results are shared by Digital Disbursements this # of days after the eDistribution launch date.
What is 45 days?
This bank role, seen on many Settlement Agreements, isn't really necessary as it is just a coordinator/middle person between the parties and settlement administrator.
Who is an escrow agent?
Necessary support docs for initiating payments from the QSF to counsel, class reps, cy pres and/or reversion. Two examples of which are these...
What are court orders, W9s and wire information, payment allocation/breakdown, counsel approval, file location links?
This is how early the applicable Monday tickets (DQA and PRF) could be entered before a distribution.
What is 3-4 weeks?
The cleared and outstanding check figures are imported into here
What is CAS?
Digital Disbursements requires this column header to identify reference ID on all uploaded data files.
What is the claim ID (refnum)?
This “Reason” in CAS flags a payment for reissue.
What is request reissued check?
This person is required to provide approval on any payment request tickets such as class counsel, KSA invoices, cy pres and reversion.
Who is the project team lead (manager or senior manager)?
Distribution Quality Assurance (DQA) first requires these two layers of review before a check file can be generated.
Who are Scott Fenwick and KRA?
This bank reconciliation figure identified in red is the result of "Availability" minus what is "Outstanding".
What is the variance?
1. Recipients selecting these two ePayment methods are required to be screened for OFAC by Digital Disbursements/BMO.
2. And OFAC results are good for this number of days?
1. What are PayPal and Venmo?
2. What is 90 days?
1. This email summarizes the distribution payments' taxability/reportability at the case onset.
2. And is sent to these individuals/teams.
1. What is the taxability/reportability analysis before the kickoff call?
2. Who are Angela, Scott, Andrea, Patrick, the project and Banking team?
This # of months past the most recent stale date is the standard waiting period before disbursing the uncashed balance to the cy pres recipient or reverting to the defendant.
What is 6 months?
This is when interest-bearing QSFs should stop accruing interest (during pre-distribution).
What is 4-6 weeks prior to check issuance (around the time calculations are finalized)?
The bank rec reports all types of transactional activity. Three examples include...
What are funding deposits, credits, and outgoing payments, such as: class counsel and class rep, admin fees, class member distributions - check and electronic, tax payments, etc.?
1. This ePayment 'menu' includes all ePayment options = ACH, eMasterCard, PayPal, Venmo and Zelle.
2. Digital Disbursement charges KSA $0.XX/successful payment under that package.
1. What is the Premier Menu?
2. What is $0.19?
Banking tries to respond to emails within __ hours?
What is 24 hours?