Bank guarantee management
Bank guarantees
The bank guarantees module allows for full management of bank guarantees, including index linkage, in a direct interface with the Central Bureau of Statistics .
All stages of a bank guarantee can be managed in the software. Below are the steps:
Bank guarantee management steps
1. Application stage
You can produce a signed application for a bank guarantee that you will send to the bank by email or fax. The application will include all the details of the guarantee, including beneficiary, validity, index type, and more.
2. Collecting a guarantee and delivering it to the beneficiary
After collecting the guarantee and delivering it to the beneficiary, the guarantee status can be updated to "Delivered" and thus we will receive an accurate report regarding all guarantees and all beneficiaries.
3. End of guarantee validity
The software will alert you one month in advance when a specific guarantee is about to expire. This allows time to organize and send a request for guarantee renewal.