Role | Description | Usage as temporary address allowed? | Address Type | Stoplevel | Automatic copy of address from database contract allowed? | Only main address to be used? |
---|---|---|---|---|---|---|
CON | Confirming Bank | Y | B | 3 | M | |
CNR | Inc. Confirming Bank | Y | B | 3 | M | |
APC | Applicant Seq.C | Y | 3 | M | ||
CTC | Accountee Seq.C | Y | 3 | M | ||
BEN | Beneficiary | BENTMPFLG | 3 | M | ||
APL | Applicant | APLTYPFLG | 1 | APLADRCPYFLG | ||
CTR | Accountee | Y | 3 | M | ||
ISS | Issuing Bank | B | 3 | |||
ADA | Adv.Bank APL Side | B | 3 | |||
BEC | Intermed. Beneficary | Y | B | 3 | ||
ATB | 1st Adv. thr. Bank | Y | B | 3 | ||
AT2 | 2nd Adv. thr. Bank | B | 3 | |||
ATC | 1st Adv. thr. Bank C | Y | B | 3 | ||
AGT | Agent | Y | 3 | |||
OAP | Old Account Party | Z | ||||
ACB | Acc. with Bank (ACB) | Y | B | 3 | M | |
STO | Delivery Address | YES | 3 | |||
APR | Appl f Reimbursement | Y | BC | 3 | ||
AVB | Available with Bank | Y | B | 3 | M | |
AVC | Available with Bnk C | Y | B | 3 | M | |
RMB | Reimbursement Bank | B | 3 | M | ||
RMR | Inc. Reimbursemt Bk | Y | B | 3 | M |
additionally
Role | Description | Usage as temporary address allowed? | Address Type | Stoplevel | Automatic copy of address from database contract allowed? | Only main address to be used? |
---|---|---|---|---|---|---|
AP2 - AP5 | Applicant | Y | 3 | M | ||
CT2 - CT5 | Accountee | Y | 3 | M | ||
TP0 - T20 | Third parties | Y | 3 | M |
The beneficiary is the party in whose favor the guarantee was created. If the applcant does not fulfill his contract obligations, the beneficiary can claim the guarantee and receive the money from the issuing bank.
With 'Direct' and 'Indirect' guarantees, the beneficiary is usually not a customer of the bank using the application. The beneficiary can be entered as a temporary address.
In all other handling types the beneficiary is usually a customer of the bank using the application and has to be available in the static data.
In the processing types 'Direct' and 'Indirect', the Applicant instructs the opening bank to issue the guarantee. The guarantee is booked under his exposure. As a rule, he is the customer of the bank using the application and must be recorded in the static data. On submission of a correct utilization, the Applicant is debited by the issuing bank. In the case of all other settlement types, the Applicant is the party who issued the order for guarantee confirmation or advice and simultaneously the party who issued the guarantee . This party is recorded in the “Applicant” field and must exist in the static data.
Usually, the applicant is also the accountee of a guarantee. The accountee is mentioned as the applicant on the guarantee certificate. In this case, the party will not be filled in. If a subsidiary of a major company requires a guarantee without having its own lines of credit, the applicant can instruct the issuing bank to create a guarantee under his liability, but on behalf of the accountee. The accountee will then be mentioned on the guarantee certificate, and the booking will then take place under the liability of the applicant.
In the case of an advised guarantee, the accountee is a customer of the applicant.
The opening bank is the issuing bank of the guarantee. It guarantees payment vis-à-vis the beneficiary if the applicant should fail to meet its contractual obligations.
In the case of settlement type 'Direct', the bank using the application is the issuing bank. Accordingly, in this constellation no issuing bank can be recorded.
In the case of settlement type 'Indirect', the bank using the application commissions a correspondent bank (mostly in the beneficiary's country) to issue the guarantee under own recourse liability. In this event, the opening bank must be recorded in the static data.
For all other settlement types, the guarantee was opened by a bank (mostly abroad). This bank sends the guarantee to be forwarded / confirmed by the bank using the application and is therefore recorded in 'Applicant' field.
If the bank using the application does not receive the guarantee directly from the issuing bank, but from a third party, then this is the advising bank (applicant side). This party is only available with the handling types 'Advise with or without Confirmation' and 'Guarantee received'.
Advising through banks are used if the bank using the application does have not advise the beneficiary of an incoming guarantee directly. This may be the case, if required by instructions from the issuing / advising bank (applicant side), or if the beneficiary is not a customer of the bank using the application.
In outgoing guarantees (direct or indirect) the bank using the application can use an advising through bank, for example, to have the authenticity of the guarantee created confirmed.
The advising through can be handled with or without the liability of the advising through bank.
The advising through banks can be specified on panel 'Parties' under 'Additional Parties'. The application supports up to 2 advising through banks.
It is possible that an applicant does not have enough lines of credit available to instruct the own bank to create a guarantee. In this case, the bank using the application can distribute the liability to multiple applicants (the request for creating the guarantee has to be signed by all applicants). On the guarantee certificate only the 1st applicant is mentioned. However, the liability is booked to all applicants. The portioning of the liability can be specified on panel “Liability” in terms of amount or percentage.
Further applicants can be entered on panel “Parties” under “Additional Parties”.
In contracts with multiple contract partners it is possible that multiple accountees have to create a guarantee for the beneficiary together. The accountees are all mentioned on the guarantee certificate. However, the booking is done under the liability of the applicant.
Further accountees can be entered on panel “Parties” under “Additional Parties”.
Other parties that cannot be entered in any other place can be specified as third parties in the application. Outgoing messages can be sent to this party. Third parties can be entered on panel “Parties” under “Additional Parties”.
See “1st Advising through Bank”
This bank is the “Advice Through Bank” of the local undertaking in sequence C, if different from the “Advising Bank”. For more information on “Advising Bank”, see helptext in “1st Advising through Bank”.
Agent of the beneficiary. Outgoing messages can be sent to this party. The agent can be entered on the 'Parties' panel under 'Additional Parties'.
This party is not a party to the underlying foreign trade transaction.
This is required for internal operations of the application in order to secure the correct booking of liabilities, should the liability party be changed.
This party is not related to the beneficiary of the guarantee.
The 'Ben. Acc. with Bank' is the correspondence bank of one of the parties (e.g. Issuing Bank of an indirect guarantee) which in this case is the beneficiary of a payment. It is specified, if the bank using the application does not have a direct account with the party to which payment (e.g. charges) has to be made. Payment will then be effected via the 'Ben. Acc. with Bank'.
The delivery address is used when the option SPECIFIED ADDRESS has been selected in the 'Send Undertaking to' field.