2 Guarantee Issuance Amendment Islamic

Guarantee Amendment enables the user to amend an already issued guarantee to the Beneficiary or to the Bank designated to Advise the Guarantee Amendment to the Beneficiary or to another Advising Bank.

Conventional Guarantee Amendment process enables the user to make an amendment to the Guarantee which had been already issued.

The common amendments that are made to Guarantees are:
  • Expiry date
  • Increase/Decrease in Guarantee amount
  • Change in Terms and Conditions
  • The amendments may need consent from the beneficiary of the amendment. In such scenarios, after the processing of amendment, the amended Guarantee is parked awaiting beneficiary consent.
The various stages involved in Amendment of Guarantee Issued are:
  • Receive and verify documents (Non Online Channel)- Registration stage
  • Input amendment application details
  • Upload of related mandatory and non-mandatory documents
  • Input/Modify details of amendment of Guarantee - Data Enrichment stage
  • Check for limit availability Check balance availability for amount block
  • Check for sanctions & KYC status Earmark limits/Create amount block for cash margin/charges
  • Capture remarks for other users to check and act
  • Generate acknowledgements and draft Amendment copies
  • Notify customer on any negative statuses in any of the stages to the applicant
  • Hand off request to back office
The design, development and functionality of the Islamic Guarantee Issuance Amendment process flow is similar to that of conventional Guarantee Issuance Amendment process flow.
This topic contains following subtopics:
  • Common Initiation Stage
    This topic provides the systematic instructions to initiate the new Guarantee Issuance Amendment Islamic request.
  • Registration
    This topic provides the systematic instructions to initiate the Registration stage of Guarantee Issuance Amendment - Islamic request.
  • Data Enrichment
    This topic provides the systematic instructions to initiate the Data Enrichment stage of Guarantee Issuance Amendment Islamic request.
  • Legal Verification
  • Customer Response - Draft Confirmation
    This topic helps you quickly get acquainted with the Customer Acknowledgement process.
  • Exceptions
    This topic helps you quickly get acquainted with the Exceptions process.
  • Multi Level Approval
    This topic helps you quickly get acquainted with the Multi Level Approval process.