22 Initiate Islamic Outward Guarantee/Stand By LC

This topic provides the systematic instructions to initiate Outward Guarantee/Stand By LC in the application.

Using this option, a corpoarte user can apply for an Outward Bank Guarantee (BG). For the BG application, you must enter the details under the five heads of the application available in this option viz. Parties, Commitment Details, Bank Instructions and Guarantee Advices and Attachments. The Outward Guarantee application goes through the "Maker-Checker" cycle and once it is authorized, the details are sent to the host system.

User has three options to initiate Collection.

1. Using existing Templates
2. Using existing Drafts
3. Initiating Guarantee ( New Application)

These are explained in detail underneath.

Pre-requisites

User must have a valid corporate party Id and login credentials in place.

1. From the Dashboard, click Menu, then click Trade Finance, and then click Bank Guarantee/Stand By LC. Under Bank Guarantee/Stand By LC, click Outward Bank Guarantee/Stand By LC, select Initiate Outward Bank Guarantee/Stand By LC - Islamic.
   • From the Dashboard, click Overview, in Overview screen go to Trade Finance and then Raise Collection.
   The Initiate Islamic Outward Guarantee/Stand By LC screen appears.

   Figure 22-1 Initiate Outward Guarantee/Stand By LC - Templates
   
   Description of the illustration initiate-outward-guarantee-stand-lc.png
   

   For more information refer to the field description table below:

2. Select and click the Outward Guarantee/Stand By LC template card whose details you want to view.
3. Specify the name of the specific Outward Guarantee/Stand By LC Template in the Search field whose details you want to view.
   The specific Outward Guarantee/Stand By LC Template detail record appears.
4. Perform one of the following actions:
   • Click Initiate Islamic Outward Guarantee/Stand By LC to create a new Outward Guarantee/Stand By LC template.
   • Click or to view the initiate Outward Guarantee/Stand By LC template as Summarized or Tabular view
   • Click to delete the initiated Outward Guarantee/Stand By LC template card.

   This topic contains following sub-topics:

• Search Islamic Guarantee/Stand - By LC Template
  This topic provides the systematic instructions to search a Islamic Outward Guarantee/Stand By LC template in the application.
• Initiate Islamic Outward Guarantee/ Stand By LC - Copy and Initiate
  This topic provides the systematic instructions to copy and initiate an Outward Guarantee/ Stand By LC in the application.
• Initiate Islamic Outward Guarantee/Stand By LC - Drafts
  This topic provides the systematic instructions to initiate an Outward Guarantee/Stand By LC in the application by using saved Outward Guarantee/Stand By LC draft.
• Initiate Islamic Outward Guarantee/Stand By LC - Outward Guarantee Details
  This topic provides the systematic instructions to initiate an Outward Guarantee/Stand By LC - Outward Guarantee Details in the application.
• Initiate Islamic Outward Guarantee/Stand By LC - Commitment Details
  This topic provides the systematic instructions to initiate an Outward Guarantee/Stand By LC - Commitment Details in the application.
• Initiate Islamic Outward Guarantee/Stand By LC - Presentation Documents and Undertaking Terms and Conditions
  This topic provides the systematic instructions to initiate an Outward Guarantee/Stand By LC - Presentation Documents and Undertaking Terms and Conditions in the application.
• Initiate Islamic Outward Guarantee/Stand By LC - Instructions
  This topic provides the systematic instructions to capture the Instructions details in the application.
• Initiate Islamic Outward Guarantee/Stand By LC – Delivery Details
  This topic provides the systematic instructions to capture the details of the delivery of the Outward Guarantee in the application.
• Initiate Islamic Outward Guarantee/Stand By LC – Local Undertaking
  This topic provides the systematic instructions to capture the details of the Local Guarantee in the application.
• Initiate Islamic Outward Guarantee/Stand By LC – Linkages
  This topic provides the systematic instructions to capture the Linkages details in the application.
• Initiate Islamic Outward Guarantee/Stand By LC - Charges Commissions and Taxes
  This topic provides the systematic instructions to capture the Charges Commissions and Taxes details in the application.
• Initiate Islamic Outward Guarantee/Stand By LC - Attachments
  This topic provides the systematic instructions to capture the LC Attachments details in the application.
• Save as Template
  This topic provides the systematic instructions to save Outward Guarantee application as a Template.
• Save as Draft
  This topic provides the systematic instructions to save Guarantee application as a Draft.