22.4 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.

Outward Guarantee Details tab captures the general details of the Outward Guarantee application process.

To initiate an Outward Guarantee/Stand By LC:

1. Navigate to Initiate Islamic Outward Guarantee/Stand By LC screen.
2. On Initiate Islamic Outward Guarantee/Stand By LC screen, then click Initiate Outward Guarantee.
   The Initiate Outward Guarantee/Stand By LC - Outward Guarantee Details screen appears.

   Figure 22-6 Initiate Outward Guarantee/Stand By LC - Outward Guarantee Details
   
   Description of the illustration initiate-outward-guarantee-stand-lc-outward-guarantee-details.png
   

   Note:

   The fields which are marked as Required are manadatory.

   For more information refer to the field description table below:

   Table 22-5 Initiate Islamic Outward Guarantee/Stand By LC - Outward Guarantee Details - Field Description

   Field Name	Description
   Party Name	Displays the name of the applicant.
   Party ID	Displays the party Id of the customer which has access to creating guarantee.
   Applicant Details	Select whether the Applicant is an Existing Customer or a Non Customer. The options are: Existing customer Non customer
   Applicant Name	Select the LC applicant name based on the selected party ID. This field is drop-down and allows the user to select the Applicant name for Existing customer option. This field is input field, if Non customer option is selected in Applicant Details field.
   Address	Displays the LC applicant address. This field is input field, if Non customer option is selected in Applicant Details field.
   Country	Indicates the country of the applicant. This field is drop-down field, if Non customer option is selected in Applicant Details field.
   View Limits	Indicates the available limits for applicant under the selected Line. The limit details are also represented in a graphical manner with available, sanctioned and utilized limit details for the users.
   View Limit Details	Click the link to open the Facility Summary screen.
   Accountee Name	Select from the list of all accountees mapped to a party.
   Address	Displays the accountee's address.
   Country	Displays the country of the accountee.
   Form of Undertaking	Select the form of Undertaking. The form of documentary credit are: Demand Guarantee Standby Letter of Credit
   Select Product	Select the product type as coming from Host. The values in the drop-down is listed according to the value selected in the Form of Undertaking field.
   Type of Undertaking	Select the type of Undertaking. The options are: Advance Payment Guarantee Bill of Lading Guarantee Customs Guarantee Direct Pay Guarantee Insurance Guarantee Judicial Guarantee Lease Guarantee Other Guarantee Payment Guarantee Performance Guarantee Retention Guarantee Shipping Guarantee Tender Guarantee Warranty/ Maintenance
   Narrative	Specify the narrative. This field is displayed if Other Guarantee is selected from Type of Undertaking list.
   Supplementary Information About Amount	The additional information about amount, if any. The details of the obligator/ Concerning party for the Outward Guarantee, and information for the undertaking such as interests, tolerances. +/- Tolerances to be specified as 2n/2n format.
   Purpose of Message	Indicates the purpose of message. The options are: Issue of undertaking – when selected, Local Undertaking screen is disabled Issuance of counter-counter-undertaking – when selected, Local Undertaking screen gets enabled Issuance of counter-undertaking – when selected, Local Undertaking screen and all its field except "Counter SBLC/Guarantee Issuing Bank" field is enabled.
   Applicable Rules	Select the applicable rules for guarantee.
   Applicable Other Details	Specify the applicable other details for guarantee. This field is displayed if Other is selected from the Applicable Rules list.
   Instructing Party Name	Specify the name of the obligator or instructing party.
   Address	Specify the address of the obligator or instructing party.
   Country	Specify the country of the obligator or instructing party.
   Beneficiary Details	The option to select the beneficiary type. The options are: Existing New
   Beneficiary Name	The name of the guarantee beneficiary. This field allows the user to select the beneficiary name from drop-down, if Existing option is selected in the Beneficiary Details field. This field allows the user to specify the beneficiary name, if New option is selected in the Beneficiary Details field.
   Address	Specify the address of the LC beneficiary. This field is enabled to enter the address details, if New option is selected in the Beneficiary Details field.
   Country	Specify the country of the LC beneficiary. This field is enabled to enter the country name, if New option is selected in the Beneficiary Details field.
   File Identification	Select the file identification of outward guarantee.
   Other Details	Specify the other details for file identification. This field is displayed if Other Delivery Channel is selected from the File Identification list.
   Medium	Select the medium of the outward guarantee. The options are: SWIFT Mail
   Advising Bank	Select the mode of advising bank. The options are: SWIFT Code Name and Address
   SWIFT Code	Displays the SWIFT code of the advising bank.
   Bank Address	Displays the bank address of the advising bank.
   SWIFT code Look up	The following fields appear on a pop up window if the Lookup SWIFT Code link is clicked.
   Lookup SWIFT Code	Select the SWIFT code of the advising bank. This field is enabled if the SWIFT Code option is selected in the Credit Available With field.
   SWIFT code Look up	The following fields appear on a pop up window if the Lookup SWIFT Code link is clicked.
   Swift Code	The facility to lookup bank details based on SWIFT code.
   Bank Name	The facility to search for the SWIFT code based on the bank name.
   Country	The facility to search for the SWIFT code based on the country.
   City	The facility to search for the SWIFT code based on city.
   SWIFT Code Lookup Search Results	This section displays the SWIFT Code lookup search results.
   Bank Name	Displays the names of banks as fetched on the basis of the search criteria specified.
   Address	Displays the complete address of each bank as fetched on the basis of the search criteria specified.
   Swift Code	Displays the list of SWIFT codes as fetched on the basis of the search criteria specified.
   Bank Details	Specify the name and address of the bank where credit would be available. This field is enabled if the Bank Address option is selected in the Advising Bank field.
   Advising Through Bank	Select the mode of advising through bank. The options are: SWIFT Code Name and Address
   SWIFT Code	Displays the SWIFT code of the advising through bank.
   Bank Address	Displays the bank address of the advising through bank.
   SWIFT code Look up	The following fields appear on a pop up window if the Lookup SWIFT Code link is clicked.
   Lookup SWIFT Code	Select the SWIFT code of the advising through bank. This field is enabled if the SWIFT Code option is selected in the Advising Through Bank field.
   SWIFT code Look up	The following fields appear on a pop up window if the Lookup SWIFT Code link is clicked.
   Swift Code	The facility to lookup bank details based on SWIFT code.
   Bank Name	The facility to search for the SWIFT code based on the bank name.
   Country	The facility to search for the SWIFT code based on the country.
   City	The facility to search for the SWIFT code based on city.
   SWIFT Code Lookup Search Results	This section displays the SWIFT Code lookup search results.
   Bank Name	Displays the names of banks as fetched on the basis of the search criteria specified.
   Address	Displays the complete address of each bank as fetched on the basis of the search criteria specified.
   Swift Code	Displays the list of SWIFT codes as fetched on the basis of the search criteria specified.
   Bank Details	Specify the name and address of the bank where credit would be available. This field is enabled if the Bank Address option is selected in the Credit Available With field.
   Bank Name	The facility to search for the SWIFT code based on the bank name.
   Country	The facility to search for the SWIFT code based on the country.
   City	The facility to search for the SWIFT code based on city.

3. In the Applicant Details field, select the applicant for whom guarantee is to be initiated.
4. From the Accountee list, select the appropriate accountee. The accountee address and country field appears.
5. From the Form of Undertaking list, select the appropriate option.
6. From the Select Product look up, select the appropriate option.
7. From the Type of Undertaking list, select the appropriate option.
8. Specify the Supplementary Information About Amount.
9. From the Purpose of Message list, select the appropriate option.
10. From the Applicable Rules list, select the appropriate option.
11. In the Instructing Party Name field, enter the name of Obligator / Instructing party.
12. In the Address field, enter the address of Obligator / Instructing party.
13. From the Country list, select the country of Obligator / Instructing party.
14. In the Beneficiary Details field, select the appropriate option to select the beneficiary.
    1. If you select Existing option; select the beneficiary from the Beneficiary Name field.
    2. If you enable New option; specify the name of the beneficiary in the Beneficiary Name field.
    3. Specify the address of the beneficiary in the Address field.
    4. Select the appropriate country, from the Country list.
15. Click the View Limits link.
    The View Limits overlay screen appears.

    Figure 22-7 View Limits

    
    

    
    Description of "Figure 22-7 View Limits"

    
    
16. On the View Limits screen, perform the following actions:

    For more information on fields, refer to the field description table.

    Table 22-6 View Limits

    Field Name	Description
    Party ID	Select the The party Id of the LC product.
    Limit	Select the limit.
    Line Limit	Display the available limits, utilized and sanctioned limits for Accountee under the selected Line in a graphical format.

    1. From the Party ID list, select the appropriate party Id.
    2. From the Limits list, select the appropriate limit.
    3. Click View Limit Details link to open the Facility Summary screen. The bottom graph appears.
    4. Click Reset to reset the limit details. The Reset popup appears.
17. In the Advising Bank field, if you select SWIFT Code option:
    1. In the SWIFT Code field, specify the SWIFT code or select it from the look-up.
    2. Click Verify to fetch bank details based on Bank Code (BIC).
18. If you select Bank Address option:
    1. In the Bank Name field, enter the name of the issuing bank.
    2. In the Address field, enter the address of the issuing bank.
19. In the Advising Through Bank field, select the appropriate option:
    1. Repeat step 17 and 18.
20. Perform any one of the following actions:
    • Click Next to proceed to the next tab.

      The Commitment Details tab appears in the Initiate Islamic Outward Guarantee/Stand By LC screen.

    • Click Save As Draft, system allows transaction details to be saved as a template or draft. (For more details, refer Save As Template or Save As Draft sections.)
    • Click Cancel to cancel the transaction.

      The Dashboard appears.