Bank Guarantees are managed through PTM's Unified Documentary Records.
The Bank guarantees in the System are categorized in issued and received. Also the System maintains a separate Register of Documentary Records for each category.
MAIN STEPS IN WORKING WITH BANK GUARANTEES
(the chart refers to material of BINETIX LLC for Management of Bank guarantees published in the end of year 2014)
ISSUED AND RECEIVED BANK GUARANTEES:
In PTM, the following Orders can be issued to Documentary Records for bank guarantees:
1)Order for advising - serves in the processing of documents on received bank guarantees and creation of a new Documentary Record;
2)Order for change -applies in necessity of changing and accounting of requisites on received bank guarantee;
3)Order for instructions - is applicable as an information to bank branch network when a client claim or claim for payments is presented;
4)Order for fees - serves to manually perform accounting of fees and expenses in the processing of a Documentary Record;
5)Order for closing - serves to manually close a Record and to perform off-balance accounting operations.
