scope:

This part of ISO 7982 identifies and defines terms and data elements used in describing, processing, and formatting funds transfer payment orders. Since it is incumbent upon the receiver of a funds transfer message to interpret and understand the full intent and meaning of funds transfer messages received through a ariety of services or systems, the terms and data elements identified in this part of ISO 7982 are generally, defined from the perspective of the Receiver. It should be noted that in certain cases there exists more than one term covering the same concept. For each of these cases, this part of ISO 7982 includes all the terms used but designates one of them as the "preferred term". To avoid confusion caused by this multi-term situation, it is recommended that use of the "preferred term" be introduced as common practice in all aspects of funds transfer operation.