Trade Finance Statuses

As a Trade transaction moves through the trade workflow, it goes through a number of different statuses as a result of the actions performed. The following tables detail all statuses in Trade Finance.

Pending Approval Statuses

The following table details each Pending Approval status.

STATUS	DESCRIPTION
Ready to Check	The transaction has been created, verified and requires checker authorisation. Once the checker has authorised the transaction, it will move to Ready to Authorise status.
Ready to Authorise	The transaction has been created, verified and is ready for approval. Once approved, it will move to an Authorised or Partially Authorised status.
Partially Authorised	The transaction requires multiple approvals and it has already been approved by at least one approver. It will remain in this status until the final approver has authorised the transaction. Once complete, it will move to an Authorised status.
Repair	This indicates that the transaction has an error and needs to be corrected before it can be authorised.
Returned by Bank	The transaction has been returned by the bank and needs to be corrected and re-authorised, before it can be processed by the bank.
Authorised Failed	The transaction has failed the approval process and requires further action.

Current Instrument Statuses

The following table details each Current Instrument status.

STATUS	DESCRIPTION
Pending	An initial transaction for the instrument has been created but has not been processed by the bank. Once processed, it will move to an Active status.
Active	An initial transaction for the instrument has been created and processed by the bank.
Expired	The instrument has expired.

Past Instrument Statuses

The following table details each Past Instrument status.

STATUS	DESCRIPTION
Cancelled	The instrument has been cancelled.
Closed	The instrument has been closed.
Deactivated	The instrument has been deactivated. Instruments in this status can be reactivated.
Paid	The instrument has been paid or liquidated.