What optionality do I have when setting up the default payment settings for my beneficiaries?

You can choose from the following options: 1- Which payment date offset you would like. I.e. relative to the invoice due date, would you always want to pay on time, 1 month later or 2 weeks earlier. 2 - When there is a choice of local and SWIFT payment rails, choose which one to default to. 3 - If a foreign payment is being made, choose between paying using the spot rate on the payment date, auto-hedging the invoice on approval date or require the use to allocate to a Term Contract.