2.3.2 Guarantee Preferences

This topic provides the systematic instructions to capture the Guarantee preference details in Scrutiny tage.

  1. On Scrutiny - Guarantee Preferences screen, specify the fields.

    Figure 2-10 Scrutiny - Guarantee Preferences Description of scrutinyguaranteepreferences.png follows
    Description of the illustration scrutinyguaranteepreferences.png

    For more information on fields, refer to the field description table below.

    Table 2-10 Guarantee Preferences - Field Description

    Field Description
    Preferences
    Terms and Conditions Specify the terms and conditions that are not already mentioned.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.

    The field displays the content from MT760 and all the applicable MT 761.
    Governing Law and Jurisdiction Click Search to search and select the applicable governing law and jurisdiction for the undertaking.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Automatic Extension Details
    Automatic Extension Required Enable the option, if automatic extension for expiry date is required.
    Disable the option, if automatic extension for expiry date is not required.

    Note:

    This field is not applicable if, Expiry Type field in registration stage has value as Open.

    In case of Guarantee Advising MT760, this button is enabled if 23F field has value.
    Auto Extension Period Select the auto extension period for expiry date from the following options.
    The options are:
    • Days
    • One year
    • Others

    This field is available only if Auto Extension Required toggle is set On.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Extension Details Specify the extension details for the expiry date.

    This field is available only if Auto Extension Required toggle is set On and Auto Extension Period field value is Days/Others.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Non-Extension Details Specify the non-extension details for automatic expiry date extension such as notification methods or notification recipient details.

    This field is available only if Auto Extension Required toggle is set On and Auto Extension Period field has values.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Non-Extension Notice Period Specify the non-extension details for automatic expiry date extension such as notification methods or notification recipient details.

    This field is available only if Auto Extension Required toggle is set On and Auto Extension Period field has values.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Auto Extension Final Expiry Date Specify the final extension date for automatic expiry date extension after which no automatic extension is allowed.

    This field is available only if Auto Extension Required toggle is set On and Auto Extension Period field has values.

    If Auto Extension Required toggle is set On, the user can manually enter the value. This date/duration can be beyond the calculated value provided in the “Auto Extension Period”.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Demand Indicator
    Demand Indicator Select the demand indicator from the drop-down.

    This field specifies whether partial and/or multiple demands are not permitted.

    The options are:
    • Multiple demands not permitted - Partial amount can be claimed
    • Multiple and Partial demands not permitted- Entire as well as partial amount can be claimed.
    • Partial demands not permitted - Entire amount can be claimed.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Underlying Transaction Details
    Underlying Transaction Details Click Search to search and select the underlying business transaction details (for which the undertaking is issued) from the look-up.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Delivery of Loacal Undertaking
    Delivery of Original Undertaking Select the method of the delivery from the following options by which the original local undertaking needs to be delivered.
    The options are:
    • COLL - By Collection
    • COUR - By Courier
    • MAIL - By Mail
    • MESS - By Messenger - Hand Deliver
    • OTHR - Other Method
    • REGM - By Registered Mail or Airmail
    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Narrative Specify the description of method of delivery of original undertaking.

    This field is not applicable, if Delivery of Original Undertaking field value is COUR/OTHR.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Delivery to/Collection by Select the details of to whom the original local undertaking is to be delivered or by whom the original local undertaking is to be collected.
    The options are:
    • BENE - Beneficiary
    • OTHR - Other Method

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Narrative Specify the name and address.

    This field is not applicable, if Delivery to/Collection by field value is OTHR.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Transfer Details
    Transfer Indicator Select the check box if the undertaking is transferable.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Transfer Conditions Specify the conditions to transfer the undertaking.

    This field is available, if Transfer Indicator check box is selected.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Others
    Sender to Receiver Information Click Search to search and select the additional information for receiver from the look-up.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Charges Specify the value for the charger for the undertaking.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Advice Through Bank Specify the additional bank to advice the undertaking.
    This field is enabled only if Advising Bank in Main Details hop has value.

    Note:

    In case the selected Bank is not RMA Compliant, the system displays error message “RMA arrangement not available”.

    For Guarantee Advising MT760, this field is blank.
    Available With This field identifies the bank with which the credit is available of the issued LC.

    User must capture the bank details or any free text. Search the bank with SWIFT code (BIC) or Bank Name.

    On selection of the record if SWIFT code is available, then SWIFT code will be defaulted. If SWIFT code is not available then the bank's name and address gets defaulted.

    This field is not enabled, if Form of Undertaking field value is STBY - Standby LC.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Confirmation Instructions Select the confirmation instruction from the available values.
    The options are:
    • CONFIRM
    • MAY ADD
    • WITHOUT

    This field is not enabled, if Form of Undertaking field value is STBY - Standby LC.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Requested Confirmation Party Select the requested confirmation party from the available options.
    The options are:
    • Advising Bank
    • Advise Through Bank
    • Others

    This field is enabled, if Confirmation Instructions field value is Confirm or May Add.

    For Guarantee Advising MT760, the value is read only and populated from Incoming MT 760.
    Confirming Bank Specify the name of confirming bank .

    This field is not enabled, if Requested Confirmation Party field value is Others.

  2. Click Next.
    The task will move to next data segment.

    Table 2-11 Scrutiny Guarantee Preferences - Action Buttons - Field Description

    Field Description
    Clarification Details Clicking the button opens a detailed screen, user can see the clarification details in the window and the status will be 'Clarification Requested'.
    Documents Click to View/Upload the required document.

    Application displays the mandatory and optional documents.
    The user can view and input/view application details simultaneously.
    When a user clicks on the uploaded document, Document window get opened and on clicking the view icon of the uploaded document, Application screen should get split into two. The one side of the document allows to view and on the other side allows to input/view the details in the application

    Remarks Specify any additional information regarding the guarantee. This information can be viewed by other users processing the request.

    Content from Remarks field should be handed off to Remarks field in Backend application.
    Overrides Click to view the overrides accepted by the user.
    Customer Instructions Click to view/ input the following
    • Standard Instructions – In this section, the system will populate the details of Standard Instructions maintained for the customer. User will not be able to edit this.
    • Transaction Level Instructions – In this section, OBTFPM user can input any Customer Instructions received as part of transaction processing. This section will be enabled only for customer initiated transactions.
    Incoming Messages This button displays the applicable MT761 with MT760.

    Click to allow parsing of MT 760 along with MT761(up to 7) messages together to create a Guarantee Issuance.

    The user can also view the incoming MT765 by clicking the Incoming Message button. In case of MT798-MT726-MT759 request, user can view MT798 message(726-759) in this placeholder in Header of the task.

    In case of MT798_MT788-MT799 request, user can view MT798 message (788-799) in this placeholder in Header of the process-task.

    Signatures Click the Signature button to verify the signature of the customer/ bank if required.

    The user can view the Customer Number and Name of the signatory, Signature image and the applicable operation instructions if any available in the back-office system.

    If more than one signature is available, system should display all the signatures.
    Request Clarification User can submit the request for clarification to the “Trade Finance Portal” User for the transactions initiated offline
    Save & Close Save the details provided and holds the task in ‘My Task’ queue for further update. This option will not submit the request.
    Cancel Cancel the Scrutiny stage inputs. The details updated in this stage are not saved. The task will be available in 'My Task' queue.
    Hold The details provided will be saved and status will be on hold.User must update the remarks on the reason for holding the task.

    This option is used, if there are any pending information yet to be received from applicant.
    Reject On click of Reject, user must select a Reject Reason from a list displayed by the system.

    Reject Codes are:

    • R1- Documents missing
    • R2- Signature Missing
    • R3- Input Error
    • R4- Insufficient Balance/Limits
    • R5 - Others

    Select a Reject code and give a Reject Description.
    This reject reason will be available in the remarks window throughout the process.
    Refer Select a Refer Reason from the values displayed by the system.

    Refer Codes are:

    • R1- Documents missing
    • R2- Signature Missing
    • R3- Input Error
    • R4- Insufficient Balance/Limits
    • R5 - Others
    Next On click of Next, system validates if all the mandatory fields have been captured. Necessary error and override messages to be displayed. On successful validation, system moves the task to the next data segment.

Parent topic: Scrutiny