Value Date Agreement 
An object that specifies how the value date of a payment item is to be calculated.
Value date agreements are used to determine value dates based on defined rules. This includes the use of standard and configurable calendars at the level of the financial institution, the currency, and the clearing partner (clearing or correspondent financial institution). In general, the system calculates the value date by starting with a base value and adding a markup or subtracting a markdown. The base value as well as the markup or markdown are determined from attributes of the payment order metaformat. By using flexible rule sets, you can define value dating down to a single account level.
A value date agreement specifies the following:
Whether a value date is necessary, and if so, how it is to be calculated as a:
Posting date
Fixed value date
Recipient or ordering-party-dependant value date
Whether fixed value dates in the incoming payment order are to be accepted.
Whether fixed value dates are to be validated against a certain interval of allowed date ranges.
Which calendars are to be taken into account when calculating the value date (financial institution, currency, or clearing partner).
When determining the value date agreement, you have the same flexibility concerning rule sets as you have for determining routes and clearing agreements. Each value date agreement is assigned to a rule set for value date agreements. A rule set determines which value date agreement is relevant for a particular payment item. The connection to the rule set determined as relevant for the payment item is stored in the associated clearing agreement or route.
To determine a value date agreement, the system searches for the rule set for value date agreements defined in the clearing agreement. If no valid rule is found at this level, the system validates the rule set for value date agreements at route level.
If the system cannot determine any value date agreement, Routing Control raises an exception and hands the error situation to Exception Control. This component defines an adequate response for the exception. For more information, see Exception Control (FS-PE-EH). To avoid this kind of error, you can define a default value date agreement by creating a rule without conditions. You attach this rule as the last rule in the rule set.
You can also carry out a value split for ordering party items, that is, instead of creating one posting, the system creates several items with corresponding value dates. The split is determined depending on the value dates of the recipient items.
You can manage value date agreements and their rule sets as follows:
On the SAP Easy Access screen, choose 
Payment Engine 
Master Data Routing Control Manage Set of Rules for Value Date 
(transaction /PE1/VA).
For more information, see Managing Rule Sets for Value Date Agreement and Managing Value Date Agreement Rules.
Structure
Value Date Agreement Screen
The value date agreement screen is organized in the following screen areas:
Search area
You can enter a text to search for value date agreements currently loaded in the navigation tree. When you run a search, a new node with the result is created in the tree.
Navigation tree
Displays existing rule sets and their associated value date agreements in a hierarchical structure.
Business object
Displays details about the selected value date agreement organized on tab pages.
Rules
Displays the rules in a rule set associated with the selected value date agreement.
Value Date Agreement Screen
Value Date Agreement Details
On the value date agreement screen, you can find the following business object information.
Header Data
Information about rule set for value date agreements
Contains the rule set ID for value date agreements, its description, and the release status of the rule set for value date agreements to which the value date agreement is assigned.
Value date agreement information
Contains the value date agreement ID, its description, and the release status of the value date agreement.
Basic Data
Value date agreement status
A value date agreement can have the following value date agreement statuses:
Active
Inactive
Flagged for deletion
Value dating necessity
One of the following options can be defined for value dating:
Value Date Calculation
No Value Dating
Do Not Transfer Value Date to Forwarding System
Fixed value acceptance
Indicates whether the feeder system is allowed to submit a value date to Payment Engine.
Value date split
Indicates whether a value date split is executed. The value date split creates multiple ordering party items out of one ordering-party item to link different value dates of recipient items to the ordering party.
Validity Area of Agreement group box
Indicates whether the value date agreement is valid for different kinds of payment items.
Calculation Data
You can define or display how calculation is done based on the following fields:
Base value
Indicates the date and time that is used as a basis for value date calculation, for example posting date or recipient item value date.
Base value date markup or markdown
Indicates the time added to or subtracted from the base value.
Calendar Included for Calculation group box
Indicates the factory calendars to be used in the calculation and how to use them. For value date calculation, only days that are defined as business days in all activated calendars of the value date agreement can be used. If no calendar is activated in the clearing agreement, then the SAP basis calendar is used, where all days are business days.
Value date interval check
Indicates whether an interval check is performed. The value date interval check indicates in which range a determined value date must be located.
Information for Intraday Calculation group box
Indicates whether an intraday option must be performed.
Integration
Value date agreements are integrated in the Routing Control component. You can specify a reference to a rule set for value date agreements for each clearing agreement. In addition, you must specify a reference to a rule set for value date agreements for each route. If you have assigned a route and a clearing agreement to a payment item, the system searches for a value date agreement in the rule set defined for the clearing agreement. Only if this search is unsuccessful, the rule set defined for the route is used.
With regard to rule sets, the following applies:
A rule set for value date agreements consists of one to n rules.
One rule refers to exactly one value date agreement. The same value date agreement can occur in several rules.
For more information about rule sets, see Rule Set.