PENM Code: Penalty Mechanism
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PENM means penalty mechanism in the ISO 20022 service category code set. This category encompasses the reporting of fees related to the recovery of costs associated with the development and maintenance of the penalty mechanism. Note: this category should not be used for the reporting of the penalty itself.
- Code
- PENM
- ISO name
- PenaltyMechanism
- Status
- Registered
- Last updated
- 2022-03-24
Official definition
This category encompasses the reporting of fees related to the recovery of costs associated with the development and maintenance of the penalty mechanism. Note: this category should not be used for the reporting of the penalty itself.
Messages and fields that use ExternalServiceCategory1Code
| Message | Element path |
|---|---|
| camt.077 | versions 001.01 |
PENM questions
- What does PENM mean in ISO 20022?
- PENM is Penalty Mechanism in the ExternalServiceCategory1Code code set: This category encompasses the reporting of fees related to the recovery of costs associated with the development and maintenance of the penalty mechanism. Note: this category should not be used for the reporting of the penalty itself.
All ExternalServiceCategory1Code codes · ISO 20022 code sets
The ISO 20022 code names and definitions on this page are reproduced from material published at iso20022.org under the ISO 20022 Intellectual Property Rights policy. This is not the official source: the up-to-date ISO 20022 standards and repository material are published only at iso20022.org. Explanations in our own words are by ZagTrader. ZagTrader is not affiliated with or endorsed by ISO or Swift.