Escheatment Process

Hi,

We do not intend to implement the full escheatment functionality. Based on our understanding, the standard escheatment process typically includes the following steps:

1. Identifying payments eligible for escheatment
2. Initiating the escheatment process to update the payment status to Escheatment Initiated
3. Sending stop payment instructions to banks for payments in "Escheatment Initiated" status
4. Marking payments as "Escheated"
5. Creating a remittance invoice to transfer funds to the escheatment authority

However, our requirement is to use only a subset of this process and manage the actual transfer of escheated funds to the escheatment authority through a third-party vendor. Specifically, we plan to use: