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title: "FIX 5.0 SP2 EP292: UnderlyingCashSettlRecoveryFactor <42055> field – FIX Dictionary – Onix Solutions"
description: " "
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# UnderlyingCashSettlRecoveryFactor <42055> field
## FIX 5.0 SP2 EP292
### Description
Type: [float](https://www.onixs.biz/fix-dictionary/5.0.sp2.ep292/index.html#float)
Used for fixed recovery, this specifies the recovery level as determined at contract inception, to be applied in the event of a default. The factor is used to calculate the amount paid by the seller to the buyer for cash settlement on the cash settlement date. The amount is calculated is (1 - [UnderlyingCashSettlRecoveryFactor <42055>](https://www.onixs.biz/fix-dictionary/5.0.sp2.ep292/tagNum_42055.html)) x floating rate payer calculation amount. The currency is derived from the floating rate payer calculation amount.
### Used In
- [](https://www.onixs.biz/fix-dictionary/5.0.sp2.ep292/compBlock_UnderlyingCashSettlTermGrp.html)
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