Bank of America interface (BOA) applies if the disbursing bank account is part of the interface. BOA files are payment file formats generated only for bank accounts that are part of the Bank of America interface. These payment files are processed by the system and automatically transmitted to Bank of America. BOA, in turn, routes these payment instructions to the disbursing banks.
EFT is an Electronic Funds Transfer method implemented with banks using a) ISO Standard 20022, b) and any other electronic method using a ICT approved security standards.
E-requisition is used to request procurement of goods or services, defining the specifications and covering other details such as what is needed, when it is needed, and where it is needed. From the e-requisition, a buyer will source the necessary goods or services, evaluate the offers of relevant suppliers, and conclude the process by placing a Purchase Order with a specified supplier.
Includes disbursements and accruals for goods and services received, and the use or impairment of assets, dependent on the implementation arrangement and in accordance with administrative instructions issued by the Comptroller for a financial period.