Import Third Parties

Transactions in Fairways Debt may involve third parties, which can be associated with an organization but are not considered as an entity. In particular:

  • Third parties cannot be taken into account for consolidation purposes.
  • The transactions they are involved in are not automatically included in portfolio computations.

You can either create third parties one by one, or bulk import them, i.e. simultaneously create/update multiple third parties.

Note: Only administrators can manage third parties. Account administrators can manage global and local third parties at account and organization levels, whereas organization administrators can only manage local third parties at the organization level.

 

Navigate to the Account Administration
  1. Log in to your Fairways Debt account, e.g. https://login.financeactive.com/eu.
  2. Select a customer account.
  3. Click Applications Applications.png > Account Administration.

 

Bulk Import Third Parties
  1. Navigate to Administration > Third Parties.
  2. Click Import Excel.

Administration_ThirdParty_EN.png

  1. Click Need the template? to download the import file.

ThirdParty_Export_EN.png

  1. Complete the file with all relevant details.
Field Description
Code

Unique code to identify the third party, useful for mapping purposes with external systems.

Notes:

  • This field is mandatory.
  • Enter:
    • An existing code to update a third party.
    • A new code to create a third party.
Name

Third party name.

Note: If creating a third party, please enter a name.

Role

Role(s) the third party has in the platform:

  • Party
  • Counterparty

Notes:

  • Enter the role(s) in upper case, e.g. PARTY.
  • If entering multiple roles, separate the roles with a comma, e.g. PARTY, COUNTERPARTY.
Group

You can include a third party into a third party group for reporting purposes.

Note: Enter the third party code to include a third party into that group.

Note: Any created third party can become a third party group.

Enabled

Select:

  • true to enable the third party.
  • false to disable the third party.

In this example, we are:

  • Creating Icarus.
  • Updating Chiron's roles.
  • Disabling Chiron.
  • Removing Elysion from its group.

Excel_ThirdParty_EN.png

  1. Click Select a file to browse the import file.

ThirdParty_SelectAFile_EN.png

  1. Click Apply to confirm the file.

ThirdParty_Import_EN.png

Fairways Debt verifies your file.

  1. Click Import to confirm the importation.

ThirdParty_Import_Confirm_EN.png

The third parties update.

ThirdParty_EN.png

 

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