27 View Outward Guarantee/Stand By LC

This topic provides the systematic instructions to search, view and download the details of existing View Outward Guarantee/Stand By LC in the application.

A guarantee from a lending institution ensures that the liabilities of a debtor will be met. In other words, if the applicant fails to fulfil a commitment, the lending institution will cover it. A Bank Guarantee enables user to show more credibility while doing business.

Guarantees can be initiated in the system using the Initiate Guarantee option. This option allows you to search for guarantees based on a certain search criterion. It allows you to view a list of Bank Guarantees (also called Outward Guarantee) for the selected customer. Details of an individual guarantee can be viewed and exported in various formats.

Note:

Whenever the API services are called by the OBDX, then OBTF pass only those incoming and outgoing SWIFT messages details that are flagged as External by the bank in the “Trade Finance Message Type Maintenance” screen.
Pre-requisites
  • User must have a valid corporate party Id and login credentials in place
  • At least a single Outward Guarantee should exist for the party ID and party must having view rights for it
  1. From the Dashboard, click Menu, then click Trade Finance, and then click Bank Guarantee/Stand By LC. Under Bank Guarantee/Stand By LC, click Outward Bank Guarantee/Stand By LC and then click View Outward Guarantee/Stand By LC.
    The View Outward Guarantee/Stand By LC screen appears.

    Figure 27-1 View Outward Guarantee/Stand By LC
    Description of view-outward-guarantee.png follows
    Description of the illustration view-outward-guarantee.png

    This topic contains following sub-topics: