2.4.1 Legal Verification - Application Details

The Legal verification stage allows the user to review and approved the guarantee message received under a Guarantee Amendment.

All fields displayed under Application details section, would be read only.

Provide the Application Details based on the description in the following table:

Table 2-28 Application Details - Field Description

Field Description
Received from Applicant Bank Read only field.
Received From - Customer ID Read only field.
Received From - Customer Name Read only field.
Branch Read only field.
Currency Code Read only field.
Amount Read only field.
Priority Read only field.
Submission Mode Read only field.
Process Reference Number Read only field.
Application Date Read only field.
Customer Reference Number Read only field.
Draft MessageRead only field.

All fields displayed under Draft Message section, would be read only.
Language Select the language for the SWIFT message.
Draft Message Read only field.
Legal Verification
Legal Verification required Read only field.
Legal Verification Outcome The user can update any of the below response based on vetting the guarantee text
  • Accepted
  • Not accepted - Change and Send for Review Again
  • Not accepted - Change and Proceed
  • Pending
Legal Remarks Specify the observation/changes/remarks to be done to the guarantee text.
Verification Date Specify the date on which the verification was done. The system date will be defaulted and the user can change the same.
Tiles Displayed in Summary
  • Main Details- User can view the application details and Guarantee/Standby details. User can modify the details if required.
  • Party Details - User can view the application details and Guarantee/Standby details. User can modify the details if required.
  • Guarantee Details - User can view the Counter Guarantee details and Guarantee text. User can modify the details if required.
  • Limits and Collaterals - User can view the limits and collateral details. User can modify the details if required.
  • Charges - User can view the charge details. User can modify the details if required.
  • Compliance - User can view compliance details. The status must be verified for KYC and to be initiated for AML and Sanction checks.
  • Draft Confirmation – User can view the draft guarantee details, legal verification and customer confirmation details. User can modify the details if required.
  • Documents - User can view the document details.
  • Remarks - As a Reject approval user, you will be able to view the remarks captured in the process during earlier stages. User also can see the Reject code with reason for rejection in the Remarks column.

Table 2-29 Main Details - Action Buttons - Field Description

Field Description
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 issuance. 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 multiple messages (MT760 + up to 7 MT761.

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

In case of MT798, the User can click and view the MT798 message(784,760/761).

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.
View Undertaking Clicking this button allows the user to view the undertaking details.
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
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.
Cancel Cancel the inputs. The details updated in this stage are not saved. The task will be available in 'My Task' queue.
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: Legal Verification