| Role | Description | Usage as temporary address allowed? | Address Type | Stoplevel | Automatic copy of address from database contract allowed? | Only main address to be used? |
|---|---|---|---|---|---|---|
| APL | Applicant | APLTYPFLG | 1 | APLADRCPYFLG | ||
| BEN | Beneficiary | BENTMPFLG | 3 | M | ||
| ISS | Issuing Bank | Y | B | 3 | ||
| PRB | Presenter (PRB) | Y | 3 | |||
| OTH | Further Party | Y | 3 | |||
| OAP | Old Account Party | APLTYPFLG | Z | APLADRCPYFLG | ||
| INT | Intermediary bank | Y | 3 | |||
| AWI | Account with Inst. | Y | 3 | |||
| RMR | Inc. Reimbursemt Bk | B | 3 | M | ||
| RMB | Reimbursement Bank | B | 3 | Y |
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.
The beneficiary is the party in whose favor the guarantee was created. If the applicant does not fulfill its obligations under the contract, the beneficiary can claim the guarantee and then receives 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 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.
The issuing bank is the bank creating the guarantee. It guarantees to pay the amount to the beneficiary if the applicant does not fulfill its contractual obligations.
With 'Direct' guarantees, the bank using the application is the creating bank. Thus, no issuing bank can be entered in this constellation.
In the case of 'Indirect' guarantees, the bank using the application instructs the a correspondence bank (mainly in the country of the beneficiary) to create the guarantee and counter-guarantee of the bank using the application. In this case the issuing bank has to be available in the static data.
In all other handling types the issuing bank is the applicant of the bank using the application at the same time. The issuing bank is entered in field 'Applicant'.
This field holds the name of the party that has presented a claim under the guarantee. If the documents are presented by another party instead of the beneficiary of the guarantee, the presenter can either be selected from the database or it can be entered as temporary address. The claim is paid to the presenting party/presenter.
This field holds the name of the party who is to pay the claim. In most cases this is the applicant of a guarantee. However, especially when there are multiple applicants, it is possible that the payment of a claim can be made by a single applicant or by all applicants together.
In order to assure that the application performs the bookings correctly, the payer has to be stored separately under another party.
This party is not a party of the underlying foreign trade transaction.
This is required for internal operations in order to secure the correct booking of liabilities, should the liability party be changed.