28 Cancel Outward Guarantee/Stand By LC

This topic provides the systematic instructions to cancel the Outward Guarantee/Stand By LC.

Using this option, user can apply for cancellation of Bank Guarantee and accept the requests for cancellation of existing Outward Guarantees in the application.

This option allows the user to search for guarantees based on a certain filter criterion which he wishes to cancel. The searched guarantee then displays the summary of the Bank Guarantee.

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 Cancel Outward Guarantee/Stand By LC.
    The Cancel Outward Guarantee/Stand By LC screen appears.

    Figure 28-1 Cancel Outward Guarantee/Stand By LC


    Description of Figure 28-1 follows
    Description of "Figure 28-1 Cancel Outward Guarantee/Stand By LC"

    For more information refer to the field description table below:

    Table 28-1 Cancel Outward Guarantee/Stand By LC - Field Description

    Field Name Description
    Lookup Guarantee Reference No. Select the Outward Guarantee reference number.
  2. Perform any one of the following actions:
    • Select the Outward Guarantee reference number from the Lookup Guarantee Reference No.
    • Click the Advanced Lookup link.

      The Advanced Lookup overlay screen appears.

    Advanced Lookup
    Description of cancel-outward-guarantee-filter.png follows
    Description of the illustration cancel-outward-guarantee-filter.png

    For more information refer to the field description table below:

    Table 28-2 Cancel Outward Guarantee/Stand By LC - Field Description

    Field Name Description
    Applicant Name Specify the applicant name.

    This is the name of corporate who has made the Inward guarantee in favour of Beneficiary.
    Beneficiary Name Specify the name of the beneficiary of the guarantee.
    Customer Reference Number Specify the customer reference number to search the outward guarantee.
    Issue Date From - Issue Date To Specify the start date and end date of the Issue date range used for searching the Outward Guarantee.
    Expiry Date From - Expiry Date To Specify the start date and end date date range in which the Guarantee expires.
    Currency Select the currency under the Outward Guarantee.
    Amount From - Amount To Specify the Guarantee amount range used for searching the Outward Guarantee.
  3. Specify the filter criteria.
  4. Click Apply. Based on the defined criteria you can view the results.
  5. Click Cancel to cancel the transaction. The Dashboard appears.
  6. Click Clear to clear the filter criteria
  7. Click Verify. The Bank Guarantee Details appear.
  8. Click Reset to clear the search.

    This topic contains following sub-topics: