Nedbank Guarantee Hub March Bond Attorneys

Transcription

1 March 2017 Bond Attorneys 1

2 Learning Outcomes The purpose of this presentation is to introduce you to the and to familiarise new users with the basic process for handling electronic guarantees. This presentation consists of the following: Introduction Accessing the Viewing Requests Communicating with the Requesting Attorney Capturing Payments Issuing Guarantees Searching and Navigation Sharing Issued Guarantees Cancelling Guarantees Customer Support 2

3 Introduction The is a system that automates and manages the process for requesting and issuing guarantees for Nedbank Home Loans. The electronic process is modelled on the existing practice of: Requesting guarantee requirements Capturing the required payments Generating the required guarantees and having these issued by an authorised signatory Distributing the guarantees to the requesting party 3

4 Differences The primary differences between the existing paper-based process and the Nedbank Guarantee Hub are the following: An authorised signatory will login to the website to issue electronic guarantees using a digital certificate, instead of placing an inked signature on a printed document. This process is much the same as in internet banking, where an authorised person is required to login to a secure website to release (authorise) payments. All guarantees issued against registration of a Nedbank bond will be issued on the Nedbank Guarantee Hub. The objective of this is to give the Bank complete oversight of the guarantee issuing process from the initial instruction through to registration. 4

5 Paper-based vs Digital The following diagram is an illustration of how the existing manual system of issuing guarantees compares with the : OLD Bank sends instruction NEW Captures ATP details Paralegal Print documents Notify signatory Bond Attorney Sign paper Press SIGN button Paralegal Send paper guarantee to requestor Send electronic file to requestor 5

6 Logging in 1. Go to the website at When prompted, select your digital certificate and click OK. 2. On the Login screen, enter your password and click Login. 1 2 Digital certificates stored on your PC are automatically detected when you navigate to the Guarantee Hub website and so is the username associated with the selected digital certificate. 6

7 Bonds Screen Once logged in, your matters will be displayed on the Bonds list. Select the required matter by clicking on it. If the list is lengthy, it can be filtered by using: 1. The Contains text field to search by bond account number or Attorney name 2. The Bond status filter to view only matters with a specific status 3. The Payment status filter to view only matters with a specific payment status. 4. The View escalated checkbox to include matters that have been escalated to an Attorney Consultant Matters with unread messages or new guarantee requests will be flagged with a blue message icon in the matter list and on the Bond Details screen of the matter. Click the Search button to apply any of the selected filter values. 7

8 Viewing a Request Upon opening the matter, you will see all guarantee requests in the Requests menu. Click on a request to open it and view the details and corresponding documentation. 8

9 Request Details 1. Once the request is open, you will see all documentation and messages uploaded by the requesting Attorney. 2. The Add Attachment button allows you to digitally attach and send necessary documentation to the requesting Attorney The Post a comment box allows you to quickly and securely communicate with the requesting Attorney. 3 9

10 Capturing a Payment Payments can be added at any time, but usually after receiving the necessary information from the Transferring Attorney in their request. To add a payment: 1. On the matter list, select and open the required bond by clicking on it 2. On the Bond Details screen, click the Add Payment button

11 Payment Details 1. Complete all the required information under the Credit Account section. Mandatory fields are indicated by an asterisk (*). Use these buttons to navigate the Guarantee Hub / return to the Bond Details screen of the current matter (This Bond). 2. Interest is added to the guarantee amount by selecting Plus from the Interest drop-down list. The field value defaults to None, unless Plus (or Minus) is selected

12 Adding Interest 1. Select Plus or Minus from the Interest drop-down menu, and select either Simple or Compound from the Interest Type drop-down menu. 2. Capture the details of the interest to be added (rate, amount and interest start date). From the Clause Type drop-down menu, specify the wording of the interest clause Click the Refresh button to generate the appropriate wording for the interest calculation. 4. Click the Add Interest button and follow steps 1-3 to add additional interest calculations. Clicking the Amend button allows you to customise the interest clause in a text editor. 3 12

13 Notifying Signatories After a payment has been added, the authorised signatories must be notified. The Notify feature is accessed from the Bond Details screen. On the Bond Details screen, click the Notify button. An notification will popup on your screen. The subject and Message fields will be pre-populated with the signatory and payment details, but can be edited and customised. 13

14 Adding the Payment 5. Once you have captured the payment details and added any interest calculations that may be required, click the Add Payment button at the top of the screen. 5 14

15 notification On the notification confirmation popup: 1. Select an authorised signatory from the Recipient drop-down 2. Customise the message text, if necessary and click Send 3. Click OK on the confirmation dialogue box The link in the will direct the recipient / signatory directly to the matter on the Guarantee Hub, 15

16 Signing Guarantees As the authorised signatory, when notified that a guarantee is ready to be authorised/issued, you will need to login to the as the authoriser/issuer. To do this, click the link in the notification to go directly to the Sign Guarantees screen, or go to login and navigate to the Sign Guarantees screen. For web access: 1. Navigate to website and, when prompted, select your digital certificate. 2. On the Login screen, enter your password and click Login

17 Signing Guarantees 1. On the Bonds screen, select the bond by clicking on it. 2. On the Bond Details screen, click the Sign Guarantees button

18 Sign Guarantees Screen The Sign Guarantees screen presents a summary of the bond details and payments. The performs a number checks to ensure there are no issues preventing guarantees from being issued and to alert signatories to changes from the original instruction. The icons appearing next to each guarantee check will indicate a warning [ ], or a factor that will prevent the issuing of guarantees [ ], or that the guarantees are otherwise in order to be issued [ ]. 18

19 Escalating a Bond If the Firm s signing limit has been exceeded, the authorised signatory may escalate to an Attorney Consultant by authorising all guarantees and clicking the Escalate to Bank button. The escalate function can also be used in other situations where the Firm needs assistance from an Attorney Consultant, for example, if two signatures are required but the Firm only has one signatory available. 19

20 Authorising and Issuing Guarantees If you are satisfied that the guarantees are in order, you can authorise/issue them as needed. The first signatory to login authorises the guarantee by clicking on SIGN in the appropriate block once he/she is satisfied that the guarantee is in order. 20

21 Authorising and Issuing Guarantees If the Firm has more than one signatory, the second signatory can be notified that the guarantee has been authorised and may be issued, by clicking on the Notify a signatory button. This will generate an notification containing a link to the bond, which can be sent to the second signatory. The Notify a signatory function works the same as illustrated on Slides The first signatory cannot both authorise and issue the same guarantees. 21

22 Authorising and Issuing Guarantees The second signatory to login, issues the guarantee by clicking on SIGN in the appropriate signature block. 22

23 Authorising and Issuing Guarantees Once the issued the signed guarantee(s) can be previewed and shared. From this screen you can click on these Preview icons to view the signed guarantee. 23

24 Sharing Issued Guarantees Once a guarantee has been issued, you may wish to share it with the requesting Attorney. To enable sharing you will need to associate the guarantee with the request. 1. On the Bond Details screen, click on a payment to open it. 1 24

25 Associating a Request with a Payment 2. The Payment Details screen will open. Click the Associate Request button In the Update Request Association selection dialog box, click the Select Request drop-down arrow and select the request that corresponds with your guarantee, then click Confirm on both popup dialog boxes Click OK on the Success confirmation dialog box. The guarantee can now be shared with the requesting Attorney. 4 25

26 Share Function From the Bond details screen, select the request that matches the guarantee you wish to share. On the Request Details screen, under Issued Guarantees, click Share. After you have followed the confirmation prompts, the guarantee will be shared with the requesting Attorney. The comments section will be updated to reflect that the guarantee has been shared. The Share button changes to an Unshare button once the guarantee is shared. Sharing can be undone by clicking the Unshare button. 26

27 Verifying Digital Signature Authenticity Guarantees issued on the must be shared electronically rather than in printed format The guarantees will reflect the digital signature by the in the blue signature panel of the PDF document and will display the details of the authorised signatories who issued the guarantee in the green grid at the foot of the guarantee. 1 2 To learn more about identifying a legitimate digitally signed guarantee, please refer to the Resources section on the homepage, or click the following link: How to identify a legitimate guarantee. 27

28 Cancelling a Guarantee Unlike paper guarantees, electronically signed guarantees are impossible to destroy. Provision is made for the cancellation of an issued guarantee in Paragraph 3 of the guarantee document, by providing the requestor with written notice of the cancellation. 1. To cancel a guarantee and generate the required Cancellation Letter go to the Bond Details screen and select the guarantee to be cancelled. The status of the guarantee must be Issued. 1 28

29 Cancellation Process 2. The payment details screen of the selected guarantee will open. Click the Cancel button in the top righthand corner. 3. In the Cancel guarantee confirmation dialog box, capture a cancellation reason in the text box, then click Confirm. 2 3 The Reason text appears on the cancellation letter. 29

30 Cancelled status On the Bond details (and Payments details) screens, the status of the guarantee has now changed to Cancelled. 4. To access the cancellation letter, click on the cancelled guarantee. 4 30

31 Cancellation Letter 5. On the Payments details screen, click the View Cancelled button to preview the cancellation letter. The letter will open in your default PDF viewer. 5 The cancellation reason that was captured on the Cancel guarantee confirmation screen appears on the letter. 31

32 Issuing a Replacement Guarantee If the transaction is proceeding and the guarantee has been cancelled for a different reason, it will need to be replaced. to cancel and replace the guarantee: Cancel the existing guarantee on the. Create a new payment and notify the signatories as described in the preceding slides. 32