Member's Off Boarding
We would like to provide the steps that each members need to perform with regards to their historical and on going transactions prior to Contour ceasing operation by 31 December 2023.
Questions and Answers
|How and untill when all transactions can still be downloaded?||All historical and ongoing transactions must be downloaded using the "Export to PDF" functionality by 31 December 2023.|
|What happens to the open or ongoing transactions that are yet to be completed by 31 December 2023?||See below for possible options for each scenario.|
|What will happen to my cloud node(s)?||All supporting infrastructure will be deleted and all data destroyed.|
Ongoing transaction scenarios and options
This covers the different scenarios of LC / DP life cycle and the option that each member can do.
[IMPORTANT] We are recommending you complete the below by 22 December 2023, in order to provide sufficient buffer before the 31 December 2023 closure.
|LC / DP State||Option within Contour Platform||Options outside Contour Platform|
|LC on draft state||Complete everything by 22 December 2023||As LC on a draft state is still not issued, it can be withdrawn.|
|LC sent to Benificiary for co-drafting||Complete everything by 22 December 2023||An LC sent to Beneficiary is still a draft and is still not issued, it can be withdrawn.|
|LC pending Issuing bank||Complete everything by 22 December 2023||If Issuing Bank has not issued the LC yet, it can be withdrawn.|
|LC pending Advising bank||Complete everything by 22 December 2023||Advising bank can download the LC (Export to PDF) and advise the beneficiary outside contour.|
|Benificiary pending to present DP||Complete everything by 22 December 2023||Beneficiary can present the document outside contour to presenting bank.|
|Advising/Nominated/Confirming Bank pending to forward the DP||Complete everything by 22 December 2023||Presenting bank can forward the documents outside contour and sent relevant SWIFT messages.|
|Issuing bank pending acceptance of the DP||Complete everything by 22 December 2023||Issuing Bank to confirm acceptance via swift (outside Contour) instead.|
|Issuing bank pending setting of payment due date and releasing of Documents||Complete everything by 22 December 2023||Issuing Bank to confirm payment due date via swift (outside Contour) instead.|
For Self Manage Members
After 31 December 2023, your Node will automatically go into read-only mode. You will still be able to export to PDF your transactions as well as use the API to download the data.