Trade Finance

Guarantees

Objective

To provide an application software which allows Banks to facilitate monitoring of Guarantees issued to its customers in a quick and systematic manner. The various types of Bank Guarantees provided are:

1. Bid Bond Guarantee
2. Advance Payment Guarantee
3. Guarantee for Warranty Obligation
4. Payment Guarantee/Loan Guarantee
5. Performance Guarantee
6. Deferred Payment Guarantee
7. Shipping Guarantee
8. Trade Credit Guarantee
9. Standby LC

Goals

The Guarantee module streamlines the process of issuing guarantees by the Bank in which the Bank agrees to stand guarantee against the non-performance of some action/performance of a party. The guarantee is issued upon receipt of a request from 'applicant' for some purpose/transaction in favour of a 'Beneficiary'.

Solution

The LMCC Guarantee module is a quick and easy application software developed to keep track of all Guarantees related transactions by the Banks. The system also has numerous reporting capabilities which will help in reducing effort and increase the overall efficiency of users.

Features

1. Guarantee Interest Payment
2. Vouchers
3. Swift Messages
4. Data Validation
5. Data Checks
6. Guarantee Maturity
7. TC Payment Register
8. Trade Finance Transaction Data Status Report
9. TC Outstanding Report
10. Audit Trail

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