Trasmission Application

[CDGLaw]

We are attempting to complete a Transmission Application through PEXA. 

The client is the administrator and beneficiary under the estate and we have used the instructions on the community page for this scenario. 

entered that a financial settlement was not required however the workspace notes that one IS required and that we need to create a transfer in addition to the transmission application. 

Can we amend the workspace to ensure that no finance settlement is required?

[Ames · Accepted solution]

Hi @CDGLaw

As per the instructions on Community, financial settlement is required for a transmission direct to beneficiary:

Create the Workspace with the following settings:

• Representative Role: Incoming Proprietor.
• Financial Settlement required?: Yes
• Will this transaction involve a Transfer?: Yes

This is not because there is any requirement to settle funds between the parties. The reason is that PEXA Workspaces with financial settlement are able to receive a duty verification from the OSR.

It is necessary for PEXA to receive confirmation that duty has been assessed in EDR and to validate that information in each system is consistent.

A transmission alone can be completed in a workspace without financial settlement. However, any transfer to the beneficiary must be in a financial settlement workspace. 

Ames