Reconcile money in, sign money out

Expect · The trustee feed: each credit with amount, counterparty, mangled-or-clean reference, and a reconciliation sub-state beside its cash state.

Expect · Exact reference + exact amount match in one pass; everything else needs your decision.

Expect · Duplicates by feed reference are flagged, and foreign currency goes to manual review.

Expect · Partial payments converge (underpaid until whole); a split with insufficient credit refuses rather than part-filling a subscription.

Expect · The excess goes back through the payment boundary with its own instruction; the allocation trail stays balanced.

Expect · Each lands as a Finance exception with the reason recorded.

Expect · Principal is HELD; the request carries a frozen evidence snapshot with its hash.

Expect · Approval re-validates the evidence hash; any drift refuses with evidence_changed. Approval writes the release entry and flips settlements to released.

Requesting and approving your own release is refused as maker_checker.

Expect · Acceptance creates the linked run at the attested net; direct runs take offering, period, record date, distributable income and reserve months.

Expect · Record-date entitlements per holder, management fee and IPF levy carved out, and the reserve test against the 6-month policy.

Expect · Two different signers; then the trustee countersign.

Expect · Per-investor payout attempts run against verified payout accounts; the run shows paid / failed / skipped per entitlement.

Expect · A failed entitlement stays payable at the same amounts; retry succeeds after the investor fixes their account. Nothing is ever re-derived.

Expect · Eligible investors can now reserve sells and fund buys; the book shows both sides live.

Expect · Bilateral matches freeze at NAV. No positions or cash move yet; each match settles separately in the transfer workbench.

Expect · Each settlement attempt runs ledger + cash together and records its evidence; failures retry without double-moving.