2 Guarantee Issuance

As part of Guarantee Issuance the applicant (importer or customer) approaches a bank and requests the bank to issue a Letter of Credit on their behalf to the beneficiary (exporter).

The various stages involved for issuance of an Guarantee are:
  • Receive and verify application and other documents (Non Online Channel) - Registration stage
  • Input application details
  • Upload of related mandatory and non mandatory documents
  • Verify documents and capture details (Online/Non Online Channels)- Scrutiny stage
  • Check balance availability for amount block
  • Input/Modify details of the guarantee - Data enrichment stage
  • Conduct legal checks
  • Check for limit availability
  • Check for sanctions & KYC status
  • Earmark limits/Create amount block for cash margin/charges
  • Capture remarks during any stage of transaction for other users to check and act
  • Draft guarantee copy for legal verification
  • Generate acknowledgement and draft guarantee copy to customer
  • Notify customer on any negative statuses during any of the stages to the applicant
  • Hand off approved transaction to back office
The Guarantee Issuance transaction uses AI technology and allows the user to:
  1. Read the Guarantee Application / Guarantee Text document and populate whether the basic details are available or not.
  2. Displays the inconsistencies in data found across the Guarantee Application presented under the Guarantee Issuance.

Note:

The AI assisted Guarantee Issuance is available only if AI related parameters are enabled and it is configured in the system.

In the subsequent sections, let’s look at the details for Guarantee Issuance process:

This topic contains following sub-topics:

  • Common Initiation Stage
    This topic provides the systematic instructions to initiate the new Guarantee Issuance request.
  • Registration
    This topic provides the systematic instructions to initiate the Registration stage of Guarantee Issuance request.
  • OBTFPM- OBDX Bidirectional flow
    This topic provides the systematic instructions to initiate the OBTFPM- OBDX Bidirectional flow.
  • Bi-Directional Flow for Offline Transactions Initiated from OBTFPM
    This topic provides the systematic instructions to initiate the Bi-Directional Flow for Offline Transactions Initiated from OBTFPM.
  • Document Linkage
    This topic provides the systematic instructions to initiate the document linkage.
  • Scrutiny
    This topic provides the systematic instructions to initiate the Scrutiny stage of Guarantee issuance request.
  • Data Enrichment
    This topic provides the systematic instructions to initiate the Data Enrichment stage of Guarantee issuance request.
  • 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.
  • Customer - Acknowledgement
    This topic helps you quickly get acquainted with the Customer Acknowledgement process.
  • Customer - Reject Advice
    This topic helps you quickly get acquainted with the Customer - Reject Advice.