Guarantee SBLC Issuance Claim Update

2 Guarantee SBLC Issuance Claim Update

This User Manual describes the various stages of Guarantee SBLC Issuance Claim Update process.

As part of update a claim lodged under a Guarantee/SBLC Issued process, the applicant can register an update to a claim against the Guarantee/SBLC issued.

The various scenarios to Update a claim lodged under a Guarantee/SBLC issued are:

Capturing response from the Applicant/ Instructing party for Extend or Settle request

(As per Article 23 or URDG - Extend or Pay, the guarantor may suspend payment for a period not exceeding 30 calendar days following its receipt of the demand an in case of counter-guarantees, the counter-guarantor may suspend payment for a period not exceeding four calendar days less than the period during which payment of the demand under the guarantee was suspended)

Capturing details of further Presentation details/ Documents received from Beneficiary or claiming party
Capturing details of any legal injunctions received from the Applicant/ Instructing Party
Update of Settlement account or any other information in the underlying claim

In the subsequent sections, let’s look at the details for update a claim lodged under a Guarantee/SBLC Issued process:

This topic contains following subtopics:

Common Initiation Stage
This topic provides the systematic instructions to initiate the new Guarantee SBLC Issuance Claim Update request.
Registration
This topic provides the systematic instructions to initiate the Registration stage of Guarantee SBLC Issuance Claim Update request.
Data Enrichment
This topic provides the systematic instructions to initiate the Data Enrichment stage of Guarantee SBLC Issuance Claim Update request.
Multi Level Approval
This topic helps you quickly get acquainted with the Multi Level Approval process.