vExchange Terminology
| vExchange Terminology | ||
|---|---|---|
| Term | Definition | |
| Archived Claim | Records on Archived Accounts are not prohibited, but are not passed to the Sender. | |
| Collection-Master CMvX Records |
CMvX Record 196: Request for CMvX to automatically resend 200 records on a claim. CMvX Record 197: Change key request to fix the keys on behalf of a Forwarder. CMvX will automatically fix the 4 keys when you process the file. CMvX Record 198: Reset cache. Where there is a 200 record with no matching claim, Record 198 resends all 500 records. |
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| DTP / EDI |
Acronym for Data Transformation Process, a generic term for both a business adapter (aka 'adapter') and an EDI (electronic data interchange), which are equivalent terms. EDI is the term used for Collection-Master in-app data transformation, which is hosted by the firm. CMvX is an EDI used by all Collection-Master firms, but there are other EDIs available within Collection-Master. Vertican uses "business adapter" or "DTP" to denote tools created and hosted by Vertican. |
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| Duplicate Claim | Multiple 2001 records with different sets of the 4 keys for the same claim. | |
| Exception | An exception is a gate rule that flags data that does not meet a Sender’s requirements, but the data still passes to the Sender. | |
| Forwarder | See definition of Sender. | |
| Four Keys | Claims are defined by 4 keys that must match between Receiver and Forwarder: Creditor Fileno (cred_fileno), Sender Fileno (sender_int_file), Forwarder ID (forwarder_id), and Receiver ID (agent_id). | |
| Inventory | Claims (accounts), which are comprised of multiple files. Each file is a collection of records. Records are components of a claim. A claim is also a record in the database. | |
| Primary Key |
In Collection-Master, the CM FileNo is called the Primary Key because it refers to the claim that is defined by the 4 keys in the master table. The CM Fileno does not change. Within each firm, the CM Fileno is a shortcut to identify the 4 keys of the claim. However, since firms may use the same CM Fileno, it is combined with the the Agent ID to uniquely identify every claim within vExchange. |
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| Receiver | Receivers (also called Servicers) are Law Firms and Collection Agencies who receive placements from a Forwarder (Sender) from vExchange through a business adapter or DTP. | |
| Remediation | The process of fixing a record rejection. | |
| Rejection |
The record or file is prevented from being onboarded to, or processed in, vExchange. vExchange may reject a record or file to prevent an exception. Rejected records should be corrected and resubmitted for processing. Two distinct terms that should not be confused: • File Rejection: a file that was rejected from being uploaded to vExchange. • Rejections File: a report of records that were rejected (returned records). |
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| Sender |
Senders (also called Forwarders) are Debt Buyers and Creditors who places collections with a law firm or agency. (Sender is the vExchange term while Forwarder is the Collection-Master term.) There are different types of Forwarders: vExchange Senders: Use the YGC business adapter or the vExchange Native business adapter to place claims with Receivers over vExchange. It is only for these Forwarder IDs that vExchange enforces a match in the 4 keys between 1001 and 2001 records. Non-vExchange Forwarders: Communicate with firms outside vExchange using their own hosted interface (EDI). These interfaces must be set up in Collection-Master, including registration of the EDI. Non-vExchange Forwarders using Vertican custom DTPs: Forwarders connect vExchange to their own proprietary interface using a DTP built by Vertican. Firms pay Vertican for use of the DTP. |
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