Commerzbank Online Guarantee System Service for the handling of guarantees under syndicated facilities

Transcription

1 Commerzbank Online Guarantee System Service for the handling of guarantees under syndicated facilities Quick Guide for Bank Users Mittelstandsbank The bank at your side

2 copyright Commerzbank AG Frankfurt am Main Version 4.0 Date of Issue:

3 Contents 1 Login to COGS Dealing with Borrower s Guarantee Requests Locating the correct Guarantee Request Approving / Declining Guarantee Requests Reduction of a Guarantee Backdated Issue Date Cancelling an expired Guarantee Tracking your Bank s share in Guarantees issued by other Banks Updating your data weekly / monthly etc Updating your data each time a Guarantee is issued Create Reports Viewing & Downloading Documents distributed by the Agent Uploading copy of signed Guarantee Correspondent bank and other fees... 11

4 1 Login to COGS 1) To request a user account or to register as authorised signatory 1 for COGS please contact the Commerzbank Agency in Luxembourg: cogsagency@commerzbank.com, Tel: or , Fax: ) Get the form signed by an authorised signatory and send it by mail to the agent s address on the form. 3) After checking the form the COGS user administration team will provide you with your user name and password. 4) Type in your internet browser Enter your given user name and password, activate the terms and conditions checkbox and log in. Change your password by clicking on Administration and follow the instructions. If you have problems to log into COGS, contact the Hotline: ( CET). 1 An authorised signatory is a superior of the applicant, the former who must countersign each registration form.

5 If your Bank has been selected by the Borrower to issue a guarantee, you will receive an alert requesting you to log in to COGS. If you don t receive an alert, check if your address in COGS is correct. Click on Facilities, then Banks and then click on your Bank. Tip: when working with COGS do not use the Back button on your internet browser; always use the Back button which can be found at the bottom right part of the relevant page in COGS, or simply click on the tab which you want to view. 3

6 2 Dealing with Borrower s Guarantee Requests 2.1 Locating the correct Guarantee Request 1) Log in to COGS. 2) To access the syndicated facility: click on Facilities. 3) To locate the correct Guarantee Request in COGS: a. Click on the Guarantees tab. b. Click on New guarantee requests in approval process. c. Click on For approval by IB. The guarantee in question will then be visible. FAQ: What do all the symbols mean? Click on Help at the top left of the screen. What about requests to amend Guarantees? Click on the next tab Guarantee amendments in approval process. 4

7 2.2 Approving / Declining Guarantee Requests 1) Click on the Details button to view the details of the Guarantee Request and scroll down to the Guarantee text, which the Borrower has uploaded. You can view or download the text by clicking on the file. 2) You may approve or decline the Guarantee Request by clicking the appropriate button. Assuming you approve the Guarantee Request (as in most cases the text has already been discussed and agreed between you and the Borrower), you will need to: a. Amend the Issue Date, if this is different from that requested by the Borrower. The bank is allowed to backdate the guarantee by 90 days. b. Amend the Expiry Date, if necessary. c. Indicate in the case of a fixed expiry if it should be manual cancellation or automatic. d. Click on Issuer Bank and input your Bank s guarantee reference number (mandatory field). e. Click on the Overview tab and click on Approve. f. Go to the Awaiting issuance by IB tab and click Submit. g. After you have signed the hard copy guarantee, scan it (can be pdf, tif or any other file) and upload it by clicking on Document upload and browse for the relevant file on your computer and then click upload refer to 6. 4) re. file naming convention. h. Click Submit for the relevant guarantee. 2.3 Reduction of a Guarantee 1) Click on the tabs Guarantees Issued 2) Choose the Guarantee which you want to reduce; click the blue pencil in the column Amend 3) Input the reduced amount of the guarantee in the field Amount 4) Go to the tab Document upload 5) Upload the reduction notice sent by the Beneficiary ( to upload the file see 6. 4) 5) below) 6) Click on the tab Overview ; at the bottom right click on Save 5

8 2.4 Backdated Issue Date 1) Click on the tabs Guarantees Issued 2) Choose the Guarantee which you want to backdate; click the blue pencil in the column Amend 3) Amend the issue date (it is possbile by 90 days in the past) on the tab page Dates 4) Click on the tab Overview ; at the bottom right click on Save Tip: Reduction of a guarantee and backdating issue date can be done in one amend operation. 2.5 Cancelling an expired Guarantee 1) Locate the Guarantee to be cancelled in the Guarantees tab (see 2.1 above) 2) Upload the release notice (Note: It is also possible to upload the release notice after the Guarantee has already been cancelled). a) Click on the blue pencil in the Amend column b) See 6.3) 6) to upload the specific release notice 3) Locate the Guarantee for which you just uploaded the release notice; click on the red cross in the Cancel column 4) Input the cancellation date 5) Click on the Overview tab; at the bottom right click on Save 6

9 3 Tracking your Bank s share in Guarantees issued by other Banks COGS will generate an alert every time a Guarantee is issued. 3.1 Updating your data weekly / monthly etc. 1) Click on the Limits/Drawn tab [G in screenshot in 2.1]. 2) Locate your bank s Risk drawn amount (This amount represents your Bank s risk share in all issued Guarantees, including those issued by your bank). 3.2 Updating your data each time a Guarantee is issued Whether you want to update your data each time a Guarantee is issued or only e.g. weekly, will depend upon your Bank s internal regulations. 1) Locate the Guarantee that corresponds with the details in the that you have received as follows: a. Click on the Guarantees tab [in Screenshot in 2.1]. b. Copy the Guarantee no. or Borrower ref no. from the and paste it into the relevant box in the search line on the Guarantees page and click on Apply. The correct Guarantee will be shown. c. Click on the Details button and at the bottom of the page you will see your Bank s share in the Guarantee. FAQ: How can I be sure that I have recorded my Bank s share in all Guarantees issued by other Issuing Banks? You can check this by viewing or downloading the Movements Report (you can set the period to one day, one week, one month etc). What if I want to send a copy of the Guarantee details to a colleague? You can download a pdf copy of each issued Guarantee by clicking on the details button of the respective Guarantee and then clicking on the pdf file at the top right corner of the page. 7

10 4 Create Reports The Reports concerning Guarantees are always based upon data from the previous day. 1) Click on the Reports tab. 2) Choose the period for the Report. 3) Select one of the 5 Reports and click on the respective Excel icon. FAQ: Is there something available detailing the contents of these Reports and explaining how best to find the relevant information? Yes, click on Help and then on Reports. 8

11 5 Viewing & Downloading Documents distributed by the Agent COGS will generate an alert every time a document is uploaded to the Facility documentation tab. This works in a similar way to Intralinks or debtdomain. Documents are uploaded and downloaded in encrypted form (https), thereby maintaining confidentiality. 1) Click on the Facility documentation tab. 2) Locate the document mentioned in the that you have received. You may view the document or download it. 9

12 6 Uploading copy of signed Guarantee In case the final signed guarantee text is not available when confirming the issuance of the guarantee in COGS [e.g. issued in another branch], the document must be uploaded afterwards. 1) Click on the tabs Guarantees Issued 2) Choose the guarantee for which you want to upload the document; click Doc. upload. 3) Choose the guarantee version for which you want to upload a document. 4) Browse for the relevant file (can be pdf, tif or any other file) in your computer. To specify the document, refer to the File Doc-Naming_Convention.doc in the Facility Documentation tab, sub folder COGS related issues (if available as this is facility-specific). Enter in the field Document description the relevant file name according to the Doc Naming Convention. Select the respective document type from the Document type drop-down list. 5) Click Upload 6) Confirm the changes by clicking Save. 10

13 7 Correspondent bank and other fees Fees for non-syndicate banks can be entered in COGS by the following steps: 1) Locate the relevant g tee and click on the icon Fees. 2) To enter a new fee click on the symbol. 3) In the case of guarantee fees charged by the non-syndicate bank you have 2 alternatives. In the drop-down menu Fee type choose either Commission fee, which allows you to enter guarantee fees of the non-syndicate bank charged on a recurring basis (note the from and to dates and frequency of the payment), or Guarantee fee, which allows you to enter only a one-time fee. You can of course enter more than one such Guarantee fee during the lifetime of the g tee. Note that if you select Commission fee and click under Frequency the fee will be taken into account on the first calendar day of each period selected from the From date to the To date. For example, if you select Quarterly, assuming a From claim date of July 25 th, 2007 and a To claim date of July 25 th, 2009, the fee amount which you have entered will be taken into account by COGS and included in the Correspondent Bank Fees Report on October 1 st, 2007 and the first of each calendar quarter until July 1 st, 2009 inclusive. 4) If you do choose the Commission fee alternative you may click on Cancellation date, which will mean that the fee will be charged every month/quarter/year until the g tee is cancelled. 5) If you choose the Guarantee fee alternative enter the period for which the fee is being charged in the Fee description field. 6) Input the relevant data, upload the respective document and click on the button Save. 7) Correspondent Bank fee data may be amended by the IB or, if the data entered is incorrect, it can be deleted and re-entered correctly. 11