Agent that executes the payment. In the context of the Funds industry, the paying agent is the legal representative of the Fund locally. It may pay out dividends, and collects money for the purchase of funds when a client deals directly with the Fund and/or when a client deals with bearer shares. It pays out the redemption of the Fund, may distribute information about the fund, and provides legal information about the Fund.
Data from ISO specification
This is the technical data from the specification document.
<businessRole
xmi:id="_PT7iMdp-Ed-ak6NoX_4Aeg_92312014"
name="PayingAgent"
definition="Agent that executes the payment. In the context of the Funds industry, the paying agent is the legal representative of the Fund locally. It may pay out dividends, and collects money for the purchase of funds when a client deals directly with the Fund and/or when a client deals with bearer shares. It pays out the redemption of the Fund, may distribute information about the fund, and provides legal information about the Fund."
registrationStatus="Registered"
xmlns:xmi="http://www.omg.org/XMI" />