updateMultipleContracts

Description
This transaction is used to update or correct the details for multiple accounts, agreements, or contracts. It can also be used to add new accounts, agreements, or contracts and relationships between them. For the purposes of this transaction, the terms account, agreement, and contract can be used interchangeably and refer to the same business entity: a legal agreement between parties. Unless explicitly stated, each term refers to Managed Accounts and Reference Accounts.
Web Services
Operation name: updateMultipleContracts
Service name: FinancialServices
Example
Update the billing type and add new beneficiary information to the member contracts of the group life insurance for ABC Company.

Update the agreement name of the master account agreement Savings and Checking and add a new party with the party role Owner of the Savings account.

Update a Managed Account in which the signed date is incorrect.

Usage information
The input for this transaction includes the ContractIDPKs and the ContractLastUpdateDates for the contracts to be updated.

Essentially all of the business objects associated with a contract can be changed or added using this transaction.

Restriction: An existing party cannot be updated when it is associated with a contract (party) role being added using this transaction. In this case, the updateMultipleContracts transaction will not fail, but the party will not be updated.
You can use this transaction to replace one Reference Account, used in a Managed Account where the AgreementType is Value Package, with another Reference Account. To do this:
  1. Expire the relationship between the old Reference Account and the Managed Account.
  2. Create the new relationship with the new Reference Account.
You can use this transaction to correct a SignedDate on a Managed Account. To do this:
  1. Expire the Managed Account.
  2. Create a new Managed Account with the correct SignedDate.
When these steps have been taken, this transaction can record when one contract is replaced by another.
Preconditions
The contract or contracts being updated must exist.
Mandatory input
  • ContractIdPK
  • ContractLastUpdateDate
Inquiry levels
Not applicable
Filter values
Not applicable
Transaction behavior
When used as a coarse-grained transaction, new parties can be added to the database. All party details must be recorded on the first instance of the party business object, for the new party, in the request XML. Any details recorded on other instances of the party business object that are not also recorded on the first instance of the party business object are ignored. The NewPartyIdReference should be used to link any other occurrences of the party to the first instance.

The AdminContractId element within the TCRMContractBObj object must be supplied if either the AdminSystemType or the AdminSystemValue element is supplied.

If the AdminContractId element and either the AdminSystemValue or AdminSystemType elements are provided in the TCRMContractBObj, then the TCRMAdminNativeKeyBObj object should not be part of the request message for the TCRMContractBObj object or the TCRMContractComponentBObj object.

The ManagedAccountIndicator and SignedDate elements of an account cannot be updated.

For Managed Accounts whose AgreementType is Value Package:
  • The ProductId element is not updatable.
  • The ContractPartyRole element can be updated, but at least one party with an Owner role must exist.

If relating Managed Accounts to other accounts within the TCRMContractRelationshipBObj, the Managed Account must be active.

When adding a ContractRelationship, it cannot be the same as a preexisting ContractRelationship. Relationships are considered duplicates if the OriginalContractId, DestContractId, and RelationshipType elements are duplicates.

Request message
<TCRMTxType> UpdateMultipleContracts

<TCRMTxObject> TCRMMultipleContractBObj

<TCRMObject> TCRMMultipleContractBObj

with associations

Response objects
TCRMMultipleContractBObj
Special note
The same transaction can be used to update:
  • In the Party domain, Reference Accounts.
  • In the Accounts domain, Managed Accounts and Reference Accounts.