- Against Cash LG:
* There is Guarantee issue against Cash (Collateral Amount), not from Facilities lines.
* Issue Guarantee from Bank Account against Collateral // Bank Hold the amount + a percentage %
- Third Party LG:
* Guarantee issued under X facilities/Against Cash .. for Y Company…
* For Example: Sultan Telecom Company Issue Guarantee from their facilities/Cash for ATCO Company (user name that shown in the LG for the beneficiary)
*In the bank we will use Sultan Telecom name // for the Beneficiary we using ATCO name.
- Bid-Bond LG:
* This type of Guarantee will issue after purchasing the Tender, not linked with project Number.
* Maybe we will award it, and maybe not.
* So we need it as a temporary duration (Up to 120 days for each extention)
- Project Owner:
* on this Case the Owner will shown only in our records,
* For Example the LG issued from Sultan Telecom, but the owner of the project AITS.
* So AITS will not shown in the bank Guarantee, Even not shown in the Contract with the Client/Beneficiary.
- Releasing / Expiry date…
* On this Case, the LG will be released by Bank .. So We need it to be manual function /
* For the Expiration; Expired/Released LGs We need it as a record under Released statues.
- Annual Report:
* Annual report that show LGs full details such as :
a- Issuer Company,
b- Thire party if any,
c- Owner of the project,
d- Bank.
e- LG type,
f- LG Amount,
g- Collateral Amount (against Cash),
h- LG number,
i- Beneficiary name,
j- Subject/ Topic,
k- Issuance date,
l- Expiry date,
m- Status (Active, Close),
n- Project number,
o- Charges fees, and Commission.
- Alert / Reminder:
* We need an alert or notification alarm before expiray date (three monthes, and one months)