Issue Outgoing Guarantee

Field/Control

Description

Beneficiary

Search Image Link

Pressing this image link displays the Party Search page, where you can select the Beneficiary for the instrument from a list of non-bank parties. After you choose a party from the Party Search page, the transaction page redisplays with the Beneficiary fields loaded with the party's information. To complete each Beneficiary fields, you can either search for a party by pressing the Search Image Link button, or you can type the entry directly into each field.

*Beneficiary Name

The name of the Beneficiary for the instrument. To complete this field, you can either search for a party by pressing the  Search Image Link , or you can type the Beneficiary's name directly into this field. This field can contain up to 35 characters and is a required field.

Phone Number

The phone number of the Beneficiary for the instrument. To complete this field, you can either search for a party by pressing the the Search Image Link , or you can type the Beneficiary's phone number directly into this field. This field can contain up to 20 characters.

*Address (Line 1)

The first address line of the Beneficiary for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link , or you can type the Beneficiary's address directly into this field. This field can contain up to 35 characters and is a required field.

The second address line of the Beneficiary for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link ,or you can type the Beneficiary's address directly into this field. This field can contain up to 35 characters.

The city of the Beneficiary for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link , or you can type the Beneficiary's city directly into this field. This field can contain up to 23 characters and is a required field.

Province/State

The province or state of the Beneficiary for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link , or you can type the Beneficiary's province or state directly into this field. This field can contain up to 8 characters.

*Country

The country of the Beneficiary for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link , or you can select the Beneficiary's country from this drop-down list. A country selection is required.

Postal Code

The postal code of the Beneficiary for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link , or you can type the Beneficiary's postal code directly into this field. This field can contain up to 15 characters.

*Applicant

Search Image Link

Pressing this image link displays the Party Search, where you can select the Applicant for the instrument from a list of non-bank parties. After you choose a party from the Party Search page, the transaction page redisplays with the Applicant text box loaded with the party's information in read-only form. An Applicant selection is required.

To change the Applicant information in the text box, press Search again to select a new party.

Applicant’s  Reference Number

Your reference number for the instrument. This field can contain up to 30 characters.

Form of Guarantee

The Default Outward Guarantee Application Template will drive the default value for this field. There are two options in the dropdown choice list: 'Demand' and 'Suretyship'. This field is required when active.

Type* of Guarantee

The type of Guarantee between the Applicant and Beneficiary. For example, Tender/Bid Bond, Performance Guarantee, or Advance Payment. To specify the Guarantee type, make a selection from the drop-down list. A type selection is required.

*Currency

The currency for the instrument. To enter the currency, select one from this drop-down list. A currency selection is required.

*Amount

The amount of the transaction. This field can contain up to 15 characters and is a required field.

Expiry Place

This field will be a drop-down list of values. The values will be SWIFT complaint and can hold up to 29 characters. Values will be:

·         At our counters (Issuing Bank)

·         At confirming bank’s counters (Confirming Bank)

·         In Beneficiary’s country (Beneficiary)

·         Other

If ”Other” is selected, you should add the additional details related to the expiry place in the other conditions pop-up window  that appears.

This field will only be displayed on the transaction for the corporate customer to enter, when the bank defined default instrument template has no data entered in the place of the expiry field.

Issuing Instructions

Local Issuance Required

If checked, provide Local Issuer Bank Details Below

Validity Date of Local Issuer Bank

The date on which the Outgoing Guarantee obligation expires at the bank issuing the Outgoing Guarantee. To enter the date, select a day, month, and year from the appropriate drop-down lists.

Search Image Link

Pressing this image link  displays the Party Search, where you can select the overseas bank for the instrument from a list of bank parties. After you choose a party from the Party Search page, the transaction page redisplays with the overseas bank details loaded with the party's information in read-only form.

To change the overseas bank information, press Erase image link. You can then press Search for an Overseas Bank again to select a new party.

Erase Image link

Pressing this image link clears the information in the Overseas Bank fields.

Overseas Bank's Name

The name of the overseas bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the bank's name directly into this field. This field can contain up to 35 characters.

Phone Number

The phone number of the overseas bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the bank's phone number directly into this field. This field can contain up to 20 characters.

Address (Line 1)

The first address line of the overseas bank for the instrument. To complete this field, you can either search for a party by pressing Search Image Link, or you can type the bank's address directly into this field. This field can contain up to 35 characters.

Address (Line 2)

The second address line of the overseas bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the bank's address directly into this field. This field can contain up to 35 characters.

City

The city of the overseas bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the bank's city directly into this field. This field can contain up to 23 characters.

Province/State

The province or state of the overseas bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the bank's province or state directly into this field. This field can contain up to 8 characters.

Country

The country of the overseas bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can select the bank's country from this drop-down list.

Postal Code

The postal code of the overseas bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link button, or you can type the bank's postal code directly into this field. This field can contain up to 8 characters.

Validity

*Valid From

Indicates the date from which the Outgoing Guarantee is valid. To specify, select one of the following options:

·         Date of Issue - The Outgoing Guarantee is valid from its issue date.

·         Other Date - The Outgoing Guarantee is valid from a date other than its issue date. If you select this option, you must also enter a date by selecting a day, month, and year from the appropriate drop-down lists.

*Valid To

Indicates the date until which the Outgoing Guarantee is valid. To specify, select one of the following options:

·         End Date - The Outgoing Guarantee is valid until a specified date. If you select this option, you must also enter a date by selecting a day, month, and year from the appropriate drop-down lis

·         No Expiry Date / Open Ended

·         Expected Expiry -Valid To: 'date' Expected Expiry (if expected Expiry is selected)

·         Other - The Outgoing Guarantee is valid until a date detailed in the Instructions to Bank text area. If you select this option, be sure to also enter information about the Valid To date in the Instructions to Bank text area.

Delivery Instructions

*Deliver To

Indicates who will take delivery of and acknowledge the physical Outgoing Guarantee. To specify, select one of the following options:

·         Applicant

·         Beneficiary

·         Other (click on Search Image Link displays the Party Search page, where you can select the Beneficiary for the instrument from a list of non-bank parties. After you choose a party from the Party Search page, the transaction page redisplays with the Beneficiary fields loaded with the party's information. To complete each Beneficiary fields, you can either search for a party by pressing the Search Image Link , or you can type the entry directly into Delivery To Details field.

*Deliver By

Indicates the method by which the Outgoing Guarantee is to be delivered. To specify, select one of the following options:

·         Telex / Swift

·         Registered Mail

·         Mail

·         Courier

Advising Bank Details

Search Image Link

Pressing this button displays the Party Search, where you can select the Applicant's Agent for the instrument from a list of non-bank parties. After you choose a party from the Party Search page, the transaction page redisplays with the Agent fields loaded with the party's information.

To change the Agent information, press Erase image link You can then press Search Image Link again to select a new party.

Erase Image link

Pressing this button clears the information in the Advising Bank Details fields.

Agent's Name

The name of the Advising Bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the Advising Banks name directly into this field. This field can contain up to 35 characters.

Address (Line 1)

The first address line of the Advising Bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the bank's address directly into this field. This field can contain up to 35 characters.

Address (Line 2)

The second address line of the Advising Bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the Bank's address directly into this field. This field can contain up to 35 characters.

City

The city of the Advising Bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the Bank's city directly into this field. This field can contain up to 23 characters.

Province / State

The province or state of the Advising Bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the Bank's province or state directly into this field. This field can contain up to 8 characters.

Country

The country of the Bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can select the Bank's country from this drop-down list.

Postal Code

The postal code of the Advising Bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the Bank's postal code directly into this field. This field can contain up to 8 characters.

SWIFT Address

 The Swift Address of the Advising Bank for the instrument. To complete this field, you can either search for a party by pressing the Search Image Link, or you can type the Bank's postal code directly into this field. This field can contain up to 8 characters.

Governing Law / Demand Details

Demand Type

Dropdown offering multiple values. Possible values are: Multiple Demands are not permitted, Partial Demands are not permitted, and Multiple and Partial Demands are not permitted.

Governing Law Country/Sub-Division

"Governing Law Country/Sub-Division" label with a Country dropdown field followed by a slash and a text field of up to 35 characters. The country dropdown is a 2 character country code value.

Governing Law Details

"Governing Law Details" text field of up to 65 characters.

Document Presentation Instructions

If any text is in this field, the PDF will say "Document and Presentation Instructions Text: followed by the Text". This will follow the Underlying Transaction Details.

Details of Tender / Order / Contract

[Tender / Order / Contract details text]

The details of the Outgoing Guarantee tender, order, or contract; for example, a description of the work to be completed, or the goods to be provided, in order to meet the terms of the Outgoing Guarantee. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 5000 characters.

Auto Extend Terms/ICC Rules

ICC Applicable Rules

Version

Details

Guarantee Terms and Conditions

The Guarantee Terms and Conditions section of the Issue Outgoing Guarantee  page contains information about the terms for the Guarantee  issue transaction. The fields and controls contained in the section are described below.

Customer Text

The actual wording of the Guarantee that will be issued. You must either enter the Outgoing Guarantee text here or in the Bank Standard Wording text area (but not in both). To enter text in the Customer Text area, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 5000 characters.

Bank Standard Wording

The actual wording of the Guarantee that will be issued. You must either enter the Outgoing Guarantee text here or in the Customer Text area (but not in both). To enter text in the Bank Standard Wording area, you must add a phrase from the drop-down list to the text area. If you add a phrase that requires you to fill in gaps, you will be prompted to enter all variable text items and press Submit to add the entered text items to the text area. The text area can contain up to 5000 characters.

Instructions to Bank

The Instructions to Bank section of the Guarantee page contains instructions to your bank for the Guarantee  issue transaction. The fields and controls contained in this section are described below.

[special instructions text]

The special instructions text for the transaction. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 2000 characters.

Settlement Instructions

Branch Code

The bank branch code for settlement. To specify, enter a bank code into the text box. This field can contain up to 30 characters.

Debit - Our Account Number

The debit account number for settlement. To specify, enter an account number into the text box. This field can contain up to 30 characters.

Debit - Foreign Ccy Account Number

The foreign currency debit account number for settlement. To specify, enter an account number into the text box. This field can contain up to 30 characters.

Ccy of Account

The currency of the settlement foreign currency account. To specify, make a selection from the drop-down list.

Commissions & Charges

Debit - Our Account Number

The debit account number for commissions and charges. To specify, enter an account number into the text box. This field can contain up to 30 characters.

Debit - Foreign Ccy Account Number

The foreign currency debit account number for commissions and charges. To specify, enter an account number into the text box. This field can contain up to 30 characters.

Ccy of Account

The currency of the commissions and charges foreign currency account. To specify, make a selection from the drop-down list.

[additional text for Settlement or Commissions & Charges]

The additional text describing settlement or commissions and charges for the instrument. To enter text, you can either type directly into the text area, or add a phrase from the drop-down list to the text area. The text area can contain up to 1000 characters.

Issue Instrument in

Selecting an option from this dropdown will cause the instruments to be issued in the selected language. If 'Other' is selected, the language needs to be provided in the 'Additional Instructions' field.

Internal Instructions

The Internal Instructions section of the Guarantee page contains instructions internal to your organisation that will not be sent to the bank with the Outgoing Guarantee (detailed version) issue transaction.

The Internal Instructions section contains a text area for internal use text for the transaction. To enter the internal instructions text, type directly into the text area. This field can contain up to 1000 characters.

Guarantee Application Form

The Guarantee Application Form link on the Outgoing Guarantee Issue page appears only after the transaction has been verified. When you click on this link, an Adobe Acrobat PDF file is generated of the transaction's collection schedule and is displayed in a new browser window. You can then print the PDF file or save it to your local drive.

Note: This feature requires that Adobe Acrobat Reader is installed on your computer. If you do not have Adobe Acrobat installed, click the icon below to download the free software from Adobe: