View source for Issuance/Amendment of Guarantees


= '''Recovery Procedure: Issuance/Amendment of Guarantees''' =

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*'''WHAT'''
**TF03 Issuance/Amendment of Guarantees

= '''Pre-Crisis''' =
*'''HOW'''
**Input register immediately in EXCEL upon receipt of new transactions.
**Ensure register is in BCP directory.
**Close BAG contracts in Trade Finance System.

= '''Recovery & Resumption''' =
== Within T+4 hours ==
*'''HOW'''
**Ask IT to change routing of print-queue
**Identify outstanding transactions to be completed
**Liaise with Corporate Banking to reconfirm any outstanding transactions to be done


[[Sample Recovery Procedures| '''Back >> Sample Recovery Procedures''']]


== Within T+4 to T+24 hours ==
*'''HOW'''
**Retrieve details of all work-in-progress by printing report or extracting data from BAG
**In case account manager insist on immediate issuance with proper approval from management:
***Ask clients to fax us their copies of LC/guarantees and/or amendments at the alternate office. 
***Process in BAG/ Word/ SWIFT.
***Refer Account Manager and/or Credit Risk Monitoring and Control for approval if there are any irregularities.
***Send the amendment by authenticated SWIFT to our branch or correspondent bank and ask them to relay the contents to the designated bank if it is by telex.

== After T+24 hours ==
*'''HOW'''
**Check details of all work-in-progress, decide and inform the related clients of any delay and/or rejection
**Entertain no new application 
*Advise new clients by Corporate Banking/Front Office to route their transactions to another bank.  
**Unless for very important client of whom we are their sole banker, we shall only issue amendments or countersign shipping guarantees for LCs and/or guarantees which we have already issued.
**The procedures are same as T+4 to T+24 hours above.