SMI 'N' and 'B' are significantly different and cannot be used interchangeably.
While both of these indicate settlement outside the Clearing House,
'N' is specific to Sampling, only contains data and therefore not a Settlement Record - i.e. no exchange of money is involved.
'B' is a Settlement Record, involving money, but not through the Clearing House, which means the parties involved are individually responsible for the settlement of these transactions.
Posted: Wednesday, May 25, 2011 10:07 PM
Subject: Settlement Method Indicator
Can you expand on Settlement Method Indicators (7.2 in ISPG) - 'N' and 'B'.
Are moneis exchanged or only data?
and if no money is exhange what's the difference between the two?
and can either of them be used for billing a NCH carrier?