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IMOS - Withholding from Payments to Owners

Sometimes, the pool owner withholds some payment amount from the Pooling Distribution period and recovers it in future distribution periods. The Pooling module enables a workflow to settle this. To withhold and then recover a payment to an owner, follow these steps.

1. Set Up the Amount to Withhold from a Distribution Period

For example, to withhold 5% of the total payable to the pool Participant SEATIDE MARITIME from the distribution period Jan 2017:

When running the Pooling Distribution for Jan 2017, in the Pooling Result Distribution grid, either enter 5% in the Withhold% column or enter the corresponding dollar amount in the Withhold column. The withheld amount is then deducted from the payment. To check the withheld amount, right-click the line and then click View Payment Details.

Note: Eff Start Date and Eff End Date fields have been added to the Pooling Distribution form.

2. Recover the Withheld Amount in a Future Distribution Period

To recover the withheld amount for the pool Participant SEATIDE MARITIME from the distribution period Feb 2017:

  1. Run the Pooling Distribution from Feb 2017.
  2. In the Pooling Result Distribution grid, right-click the SEATIDE MARITIME line and then click View Payment Details.

    The previously withheld amount appears under Withhold Recovery.
  3. In the Withhold Recovery grid, select the S check box to select withheld amounts from previous periods to recover in this distribution period.
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