(4) Data and Information Requirement The requirement on image data and payment data for CTS will be presented and confirmed in the design phase. The implementation and operation work in FIs will be described in the user guidelines prepared by the application vendor. (5) External Interface Requirement CTS will have an interface with the CBM-NET Phase 2 application vendor for transferring the netting data. This interface will follow the ISO 20022 standard in the same way as the MCH netting information. The details will be confirmed in the development phase. Further enhancement of FI’s environment related to the cheque truncation system (such as a connection with the FI’s internal system) will be considered and upgraded by each FI if it is necessary. (6) Prerequisite For the specification, CBM will conduct required review and confirmation in timely manner. If any change on process described in (1)(A) required (such as the last custodian of cheque image), CBM may have to determine specification prior to make contract with Application vendor. For the rules regarding to introduction of this function, CBM is requested to determine the items listed in Table 3-15 by self or with consultation with FIs. In particular, the establishment of 1 and agreement of 2 have to be finished before running test, and 3 may have to be determined as soon as possible (with enough time for FIs to prepare). Moreover, CBM may have to determine the frequency and timing of settlement, and notice it to FIs prior to go-live. 56