Rabo Trade Access. User Manual for Outward Bank Guarantee February 2018

Transcription

1 Rabo Trade Access User Manual for Outward Bank Guarantee February 2018

2 Contents Contents Introduction General... 5 Trade Statistics... 5 Entering data in RTA Guarantee Module... 8 Guarantee functions... 8 Creating a (standard) outward guarantee application Tab Main Tab Parties Tab Instructions Preview Guarantee Creating a template Creating a transaction based on a template Creating an Outward Guarantee (Custom Made) Tab main Tab parties Tab instructions Tab Text Approve a concept guarantee Amend Outward Guarantee Extend Increase Extend and increase Extend and decrease Revoke Supervisor functions Authorise Application Multi signing of transactions Rabo Trade Access 2

3 5 Maintenance functions Modify application Modify Transaction Resubmit Outward Guarantee Delete pending transactions Status View status Annexes Annexe 1: Full text of Customs bond Annexe 2: Example of Declaration of release Rabo Trade Access 3

4 1 Introduction RABO TRADE ACCESS (RTA) is a user-friendly application with which customers can electronically submit applications for documentary payment products. Applications for standard outward and custom made bank guarantees can be simply lined up and authorised under the guarantee tab. The step-by-step procedures described in this RABO TRADE ACCESS User Manual are designed to support the entire process of an application for a bank guarantee. This manual is intended to show new users the full range of functions offered by RTA, and to assist experienced users who need to look up something quickly about a specific process. As always, please contact your account manager with any additional questions that are not addressed in this manual or if you want to know how Rabobank can assist you with your business requirements. Rabo Trade Access 4

5 2 General Trade Statistics Trade Statistics gives you quick and easy access to the modules in which a file is ready or still needs to be completed. It will also show you at a glance whether any files are ready for authorisation. Rabo Trade Access 5

6 Entering data in RTA Data can be entered in the fields in various different ways. Users can key in the data directly in the fields, choose from a drop-down list or choose from the database. Some fields are designed for the system to automatically enter data in the fields (e.g. currency or validity). Type of Fields: There are three types of fields in RTA. These types of fields are: Optional fields: Data can be entered in these fields. Mandatory fields: Data must be entered in these fields. These data are the basic data for a transaction. The `system does not allow mandatory fields to be left empty. Following confirmation of the application, a message states which mandatory fields still need to be filled in. Mandatory fields are preceded by a grey block ( ). Protected fields: These data fields are filled automatically by the system on the basis of a formula or rule associated with them. Nothing can be entered by the user. Protected fields have a grey background. In addition to manually entering data in the fields, users can also use special tabs and links as shown below. Date: Enter a date by selecting a date in the calendar; it will be entered after you single-click the date field. Toolbar: The toolbar offers users various ways of treating transactions. Rabo Trade Access 6

7 Favourites: Users can add frequently-used banks to their favourites list and search for the ID and other bank details in this list. BIC: Users can look up the ID and other bank details in the full BIC list. Rabo Trade Access 7

8 3 Guarantee Module A number of standard guarantees can be requested via RTA. The section Creating a (standard) outward guarantee application states the available types of guarantees. Standard wordings are included for these types of guarantees in RTA. The text will be generated and can be viewed after all fields have been filled in. These texts cannot be changed. In RTA it is also possible to request custom made outward guarantee. The section creating a custom made outward guarantee describes how you can request this guarantee. Click on Guarantees in the Rabo Trade Access menu bar to access the Guarantee functionalities. Guarantee functions The functionalities for Guarantees are shown. Click on Guarantees. The functionality group Guarantees will appear. Rabo Trade Access 8

9 Creating a (standard) outward guarantee application Choose Create Outward Guarantee to create a new standard outward guarantee application. The following screen will appear: Tabs: The functionality Create Outward Guarantee consists of three tabs: Main, Parties and Instructions. Clicking on one of these three tabs will take you directly to the component concerned Tab Main The tab Main comprises the following components and fields: General Information Where is the beneficiary located?: You must state here whether the beneficiary is established domestically or abroad. Using an pre-approved guarantee text: Iif you wish to use an pre-approved guarantee text, you can make a choice in the drop-down menu (a description is given in section 3.6 under Create as standard guarantee ) Guarantee Type: This gives you a choice from (a drop-down list): Payment Guarantee Advance Payment Guarantee Performance Guarantee Warranty Guarantee Retention Money Guarantee Tender Guarantee Credit Guarantee Rabo Trade Access 9

10 Customs Bond (in favour of Dutch customs) Performance Guarantee UAV Rental Guarantee Letter of Intent Standard texts are included in RTA for these types of guarantees. These cannot be modified by you. Guarantee Language: The language of the bank guarantee. You can choose from (drop-down list): English Dutch German After you have filled in the field Guarantee Type, this field will show you the languages available for the type of guarantee you have selected. If a type of guarantee is available in one language only, that language will already be filled in. Guarantee Number: The system automatically generates a (Rabo) guarantee number when creating an application for a guarantee. You can also see the type of bank guarantee on the guarantee number: Domestic: GU6xxxxxBBG Foreign: GU5xxxxxBGA Your Reference: Your reference Contact Person, Telephone number and address: The contact details of the person completing this application and/or the person who can be contacted by the Rabobank back-office with any questions that may arise. Guarantee to be sent to: Enter the party to which the guarantee should be sent. You can choose from (drop-down list): Beneficiary Applicant Third Party Beneficiary Bank (only for Credit Guarantee, then it will already be filled in and be protected) For the first three options, the guarantee is sent directly to the party concerned by courier. Because a courier cannot deliver to a P.O. Box, it is important that you enter the full street address of this party. You are alerted to this via the message: Please note: Guarantees cannot be sent to a P.O. Box, Postbus, Postfach or Boîte Postale. Guarantees will only not be sent by courier to Local Member Banks. Financial Information Guarantee amount: Select a currency from the drop-down list and enter the guarantee amount. Some types of guarantees are only issued in euros. EUR is entered automatically in those cases. Valid until: Choose the type of validity from the drop-down list: Expiry Date Revocation Release = A fixed expiry date: the guarantee is valid up to and including this date. After clicking on this option, the field Expiry date will appear, in which you enter the required expiry date. = Until revoked: the guarantee will remain valid until it is revoked by Rabobank subject to a specified period of notice. After clicking on this option, the field Notice period (in months) will appear, in which you enter the notice period. = Until released: the guarantee is valid for an indefinite period and expires when Rabobank receives Rabo Trade Access 10

11 a signed statement of release from the beneficiary, which may or may not be accompanied by the original guarantee. Only one option is possible for some types of guarantee. For instance: a Customs bond is always valid until release. In that case the field will be automatically filled with Release and will be protected Tab Parties Use the tab Parties to enter information about the parties involved in the guarantee. This tab will in all cases contain the fields relating to the Applicant and the Beneficiary and, depending on the selection made in the field Guarantee to be sent to, be supplemented by Third Party or Beneficiary Bank Details. Applicant: This is the party for whose obligations the guarantee is issued. Your own details will be shown here when you open the tab. If the guarantee is to be issued for another party, click on the box beside Click here if the Address shown above is incorrect to make the fields optional and enter the correct data. Beneficiary: Enter name, address, city, country and country code of the beneficiary (in the language of the guarantee) here. When searching for the beneficiary ID, for domestic guarantees are only the parties with country code = NL displayed. The country code can be selected directly from the drop-down list or by using the Helpbutton. It is also possible to fill in Beneficiary details by entering the ID of the beneficiary. Name, address, city, country and country code of the beneficiary are automatically retrieved from the database. To search for the ID, click on Search. A separate screen will be opened in which you can look up the ID. The data are retrieved by clicking on the ID concerned. If the ID is not in the database, you will need to add it first via the Standing Module. A contact of the Beneficiary can also be entered in the field Beneficiary Contact Person. The guarantee will be sent for the attention of this person if Beneficiary has been opted for in the field Guarantee to be sent to. Rabo Trade Access 11

12 If the guarantee concerned is a Credit Guarantee, you will see, instead of the Beneficiary, the fields for entering the Principal Debtor s details in your screen. That is the party to whom credit is granted by the Beneficiary Bank. For a Customs bond, select one of the Customs offices from the drop-down list. These are the offices that can act as beneficiary for these customs bonds. After the correct office has been selected, the corresponding address details will be filled in automatically. Third Party: This field will appear if Third Party has been opted for in the field Guarantee to be sent to. Enter the name, street address, city and country. The name of a contact can be entered in the last line, in which case the guarantee will be sent for the attention of this person. Beneficiary Bank Details: For a Credit Guarantee, enter the bank for whose benefit the guarantee is issued. Search for this bank in the BIC+ and enter the Swiftcode here. If you are unable to find the branch concerned in the BIC+, select a head office of this bank in BIC+. Then click on the box beside Click here if the address shown above is incorrect and overwrite the details with the details of the beneficiary branch. Rabobank will then send the guarantee by Swift to the head office with the request to forward the message to the branch concerned. Credit Guarantee: For a Credit Guarantee the Beneficiary is renamed Principal Debtor. Also, the details of the Beneficiary Bank need to be entered. Rabo Trade Access 12

13 3.2.3 Tab Instructions The tab Instructions comprises fields in which further information relating to the guarantee to be issued is defined. Which fields are visible will depend on the type of guarantee. The tab Instructions is shown below for each type of guarantee. Performance, Warrenty and Tender Guarantee Description of Goods/Services and Contract (in Guarantee Language): You are required to provide a description here of the obligation to be guaranteed, in the language of the guarantee. Be specific in describing goods and/or work and state the reference number and date of the contract, agreement, tender, (pro forma) invoice etc. concerned. So not: Delivery of goods in accordance with contract. But: delivery of 100 coffee machines in accordance with contract no dated Also, make sure that the description is properly aligned with the standard wording of the guarantee. You can check this by clicking on the button Preview Guarantee after all the fields have been filled in, and the text of the guarantee as generated will be displayed. Applicable Rules: You can choose here from: URDG 758 Dutch Law Rabobank preferably issues its guarantees under the URDG 758, the Uniform Rules for Demand Guarantees (URDG), 2010 revision, ICC Publication No If you do not want that you can opt for Dutch law. Dutch law only exclusively applies to a number of types of guarantees, such as for example the Performance Guarantee UAV and the Customs Bond. The field is not displayed for these types. It is not possible to include foreign law in standard guarantees. Rabo Trade Access 13

14 Payment Guarantee An extra field for this type of guarantee is: Transport document available to Beneficiary? Use this field to state whether the beneficiary does (Yes) or does not (No) have the transport document. In the event of a claim under a payment guarantee, Rabobank s standard procedures include asking for a copy of the invoice/invoices that remain unpaid and a copy of the transport document concerned. The transport document can however only be included for deliveries of goods, and not for rendering of services. In addition, the Beneficiary can only submit a copy of the transport document if he himself handles the transport of the goods. Advance Payment Guarantee Extra fields for this type of guarantee relate to details of the advance payment: Advance Payment Amount & Currency: Select a currency from the drop-down list and enter the amount the Beneficiary is required to pay in advance. This amount can be equal to the guarantee amount but can also be a different amount. Rabo Trade Access 14

15 IBAN: State the IBAN number of the account number here into which the advance payment is to be made. IBAN BIC: Enter the BIC code here of the bank where the account number stated under IBAN is held. If the IBAN number relates to a Rabobank account, RABONL2U will automatically be entered in this field. If not, the field will remain empty and you will have to enter the BIC code yourself. Retention Money Guarantee As for the Advance Payment Guarantee, the IBAN number and associated BIC code have to be filled in for the Retention Money Guarantee. For the description, see Advance Payment Guarantee. A Retention Money Guarantee is issued in exchange for the payment by the beneficiary of the last agreed instalment. The guarantee amount and the amount of the last agreed instalment are equal. Therefore the amount of the last agreed instalment does not have to be stated. Credit Guarantee A Credit Guarantee contains a default wording for the obligation to be guaranteed, which is: credit- and/or banking facilities granted to (or on the account of) the Principal Debtor. The only additional information that needs to be stated is whether URDG 758 or Dutch Law is opted for. Rabo Trade Access 15

16 Customs bond The Customs Bond in favour of one of the Customs Offices has a fixed wording that cannot be changed. It is not possible to display this text in RTA due to its special formatting. For that reason, the full text of this Bond is included below in this User Manual (Annexe 1). This text contains a substitution clause that must be filled in if the Customs Bond to be issued replaces a Customs Bond issued previously. This clause is worded as follows: Deze borgtocht strekt mede tot verzekering van de voldoening van de verplichtingen tot zekerheid waarvan de bij akte met nummer van (datum afgifte) / (datum aanvaarding) groot... door... gestelde zekerheid strekte. Accordingly, the first field you will see when opening the tab Instructions is the following: Does this Bond replace an earlier issued Customs Bond? You can choose Yes or No in this field. If the answer is Yes, a number of fields are displayed in which the details of the Customs Bond that is to be replaced have to be entered: Original Bond date: Enter the date of the Bond to be replaced here. Original Bond Reference: Enter the reference number of the Bond that is to be replaced here. Original Bond Amount (Euro s): Enter the amount of the Bond that is to be replaced here. There is no need to state the currency, which is always Euro s. If the Bond is still in Dutch guilders, convert these into Euro s. Issuing Bank Name: Enter the name of the bank that issued the Bond that is to be replaced here. Issuing Bank Place: Enter the place here where the bank was/is established. Customs Office Name: Enter the name of the customs office here that is the beneficiary of the Bond that is to be replaced. Customs Office Place: Enter the place where this customs office is/was located in this field. Rabo Trade Access 16

17 Performance Guarantee UAV The following specific information needs to be entered for the Performance Guarantee UAV: Specifications Number: Enter the specifications number relating to the work to be carried out here. Description of Works: Provide a description here in Dutch of the work to be carried out. Rental Guarantee Description of Goods/Services and Contract (in Guarantee Language): Enter a description of the rental contract here, for instance: rental of office property with 5 parking spaces in accordance with rental contract no dated Rented Object Address: State the address of the rented property here. Rabo Trade Access 17

18 Letter of Intent: The following fields are displayed for a Letter of Intent: Description of Works: In this field, describe the work you are tendering for, in Dutch. Show Guarantee Amount in Text? A Letter of Intent can be issued with an amount or a % of the contract amount in the text. Use the drop-down list to state whether the amount should (Yes) or should not (No) be included in the text. Percentage: If you chose No in the preceding field, the field Percentage is displayed in the screen. In this field, state the percentage of the contract amount for which the guarantee will be issued if the work is awarded to you Preview Guarantee After filling in all required fields you can view the guarantee text, as it has been generated on the basis of your input, by clicking on the button Preview Guarantee. Rabobank will issue the guarantee in accordance with this text. Accordingly, it is important to check whether the text is formulated correctly. As stated earlier in this paragraph, this applies in particular to the text for the description of the obligation for which the guarantee is being issued. An example is shown on the next page. Rabo Trade Access 18

19 Rabo Trade Access 19

20 After all the required details for the guarantee application have been entered, you can click on Confirm at the bottom of the tab. After this has been successfully completed, the screen will display the following message: Transaction completed. The transaction will then have the status Pending and needs to be approved by the supervisor using the function Authorise Guarantee, which will be discussed later in this document. You can use the function Modify Transaction to subsequently modify an application before authorisation. Again, this is discussed later on in this document. You can save the transaction in the course of creating it by clicking on Save. In this case, the transaction will not be sent to Rabobank. This enables the user to continue the transaction at a later time. These saved transactions can also be resumed and completed by using the function Modify Transaction. You can also save the transaction as a template. To do so, click on the button Template in the tab Instructions. The template can then be used again on a later occasion instead of having to enter all details again from the start. This process is discussed on the next page. Creating a template If a transaction (for instance to the same beneficiary) occurs repeatedly, you can use the template functionality. A template is a standardised application that you can save and re-use. In the function Create Outward Guarantee, enter the data that you need for several guarantees for the same beneficiary. As all fields are optional, users can leave some fields blank. The fields concerned, such as the amount, the validity, the parties and the description of the obligation will vary from one transaction to another. The template can then be used for multiple applications without having to repeat information and enter it again for each application that is handled. To create a template, enter the data in the transaction fields as described above and click on the button Template in the tab Instructions. A separate screen is opened, which is shown below. You can select a template by clicking on the checkbox. Assign a unique name to each template, one that is clear for you. State whether the template is Personal (Private) or Public (Company). Personal (Private) means that the template will only be available for the current user, while Public (Company) means that the template is available for all users. Clicking on the button Create will add the template to the Template List. Note: in doing so, a number of data, such as the amount and validity for instance, are deleted. To remove the template from the list, tick the corresponding checkbox and click on Delete. The button Update is intended for switching a template from Private to Public or for overwriting the data with other data. Rabo Trade Access 20

21 Creating a transaction based on a template A template is a standardised application that you can save and re-use. Significant time is saved because data have been filled in already. To create a Guarantee application from a template created previously, open the function Create Outward Guarantee and click on Template in the toolbar at the bottom of the tab Main. A new screen will open with a list of templates already created. Select the template you want to use by ticking the corresponding checkbox and then click on Load. The data from the selected template are then loaded into the transaction fields. Change as required before confirming. Rabo Trade Access 21

22 Creating an Outward Guarantee (Custom Made) Choose create outward guarantee (custom made) to create a new customized Outward Guarantee. The following screen will appear: Tabs: The functionality Create Outward Guarantee (custom made) consist of four tabs: Main, Parties, Instructions, and Text. Clicking on one of these four tabs will take you directly to the component concerned Tab main The tab Main comprises the following components and fields: General Information Where is the beneficiary located?: You must state here whether the beneficiary is established domestically or abroad. Guarantee Type: This gives you a choice from (a drop-down list): Tender Guarantee Letter of Intent Advance Payment Guarantee Advance Payment Bürgschaft Performance Guarantee Performance Bürgschäft Rabo Trade Access 22

23 Performance Guarantee - SWK Coll. Performance Guarantee - SWK Ind. Warranty Guarantee Warranty Bürgschaft Retention Money Guarantee Retention Money Bürgschaft Payment Guarantee Payment Bürgschaft Rental Guarantee Rental Bürgschaft Credit Guarantee Judicial Guarantee Attachment Guarantee Guarantee for Release of goods Letter of indemnity for Missing Bill of Lading Standby LC Performance Standby LC Warranty Standby LC Retention Money Standby LC Payment Standby LC Credit Tax Guarantee Fiscal Representation Tax Guarantee Harbour dues Tax Guarantee other VAT Belgium Guarantee Customs Bond (other than common transit process) Guarantee for B.I.R.B. = Garantie t.g.v. Belgisch Interventie en Restitutiebureau (B.I.R.B.) Do you want to receive a concept of the guarantee text first? Here you have the possibility to request a concept. You can choose from (drop-down list): No Yes In case you select Yes Rabobank will issue a concept guarantee, which will be delivered to you through RTA. Then you can use the function Resubmit outward guarantee or Concept Guarantee Acceptance if you want to issue a final guarantee. This will be explained later on in this document. Guarantee language. The language of the bank guarantee. You can choose from (drop-down list): Dutch English German French After you have filled in the field Guarantee Type, this field will show you the languages available for the type of guarantee you have selected. If a type of guarantee is available in one language only, that language will already be filled in. Guarantee Number: The system automatically generates a (Rabo) guarantee number when creating an application for a guarantee. Your Reference: Your reference Contact Person, Telephone number and address: The contact details of the person completing this application and/or the person who can be contacted by the Rabobank back-office with any questions that may arise. Rabo Trade Access 23

24 Guarantee to be sent to: Enter the party to whom the guarantee should be sent to. You can choose from (dropdown list): Beneficiary Applicant Third Party Beneficiary Bank For the first three options, the guarantee is sent directly to the party concerned by courier. Since a courier cannot deliver to a P.O. Box, it is important that you enter the full street address of this party. You are alerted to this via the message: Please note: Guarantees cannot be sent to a P.O. Box, Postbus, Postfach or Boîte Postale. Guarantees will only not be sent by courier to Local Member Banks. Issue or request: If you want Rabobank to send the guarantee to the bank of the beneficiary, you will have to indicate whether the beneficiaries bank has to advise the guarantee (issue), or that they have to issue the guarantee as their own guarantee (request). In case of Advising the guarantee, the beneficiaries bank advices the Rabobank guarantee to the beneficiary without any obligation. In case of a Request, Rabobank asks the beneficiaries bank to issue the guarantee as their own guarantee. In this case Rabobank acts as a counter guarantor. Financial information Guarantee amount: Select a currency from the drop-down list and enter the guarantee amount. Some types of guarantees are only issued in euros. EUR is filled out automatically in this field. Valid until: Choose the type of validity from the drop-down list: Expiry Date Revocation Release Rabobank = A fixed expiry date: the guarantee is valid up to and including this date. After clicking on this option, the field Expiry date will appear, in which you enter the required expiry date. = Until revoked: the guarantee will remain valid until it is revoked by Rabobank subject to a specified period of notice. After clicking on this option, the field Notice period (in months) will appear, in which you enter the notice period. = Until released: the guarantee is valid for an indefinite period of time and expires when receives a signed statement of release from the beneficiary, which may or may not be accompanied by the original guarantee. Only one option is possible for some types of guarantee. For instance: a Customs bond is always valid until release. In that case the field will be automatically filled out with Release and will be protected Tab parties Use the tab Parties to enter information about the parties involved in the guarantee. This tab will in all cases contain the fields relating to the Applicant and the Beneficiary and, depending on the selection made in the field Guarantee to be sent to, supplemented by Third Party or Beneficiary Bank Details. Rabo Trade Access 24

25 Applicant: This is the party for whose obligations the guarantee is to be issued. Your own details will be shown here when you open the tab. If the guarantee is to be issued for another party, click on the box beside Click here if the Address shown above is incorrect to make the fields optional and enter the correct data. Beneficiary: Enter name, address, city, country and country code of the beneficiary (in the language of the guarantee) here. The country code can be selected directly from the drop-down list or by using the Help-button. It is also possible to fill in Beneficiary details by entering the ID of the beneficiary. Name, address, city, country and country code of the beneficiary are automatically retrieved from the database. To search for the ID, click on Search. A separate screen will be opened in which you can look up the ID. The data are retrieved by clicking on the ID concerned. If the ID is not in the database, you will need to add it first via the Standing Module. A contact of the Beneficiary can also be entered in the field Beneficiary Contact Person. The guarantee will be sent for to the attention of this person if Beneficiary has been opted for in the field Guarantee to be sent to. If the guarantee concerned is a Credit Guarantee, you will see, instead of the Beneficiary, the fields for entering the Principal Debtor s details in your screen. That is the party to whom credit is granted by the Beneficiary Bank. For a Customs bond, select one of the Customs offices from the drop-down list. These are the offices that can act as beneficiary for these customs bonds. After the correct office has been selected, the corresponding address details will be filled out automatically. Third Party: This field will appear if Third Party has been opted for in the field Guarantee to be sent to. Enter the name, street address, city and country. The name of a contact can be entered in the last line, in which case the guarantee will be sent for to the attention of this person. Beneficiary Bank Details: For a Credit Guarantee, enter the bank for whose benefit the guarantee is issued. Search for this bank in the BIC+ and enter the Swift code here. If you are unable to find the branch concerned in the BIC+, select a head office of this bank in BIC+. Then click on the box beside Click here if the address shown above is incorrect and overwrite the details with the details of the beneficiary branch. Rabobank will then send the guarantee by Swift to the head office with the request to forward the message to the branch concerned. Rabo Trade Access 25

26 Tab instructions The tab Instructions comprises fields in which further information relating to the guarantee to be issued is defined. Which fields are visible will depend on the type of guarantee. The tab Instructions is shown below for each type of guarantee. Performance, Warranty and Tender Guarantee Description of Goods/Services and Contract (in Guarantee Language): Here you are required to provide a description here of the obligation to be guaranteed, in the language of the guarantee. Be specific in describing goods and/or work and state the reference number and date of the contract, agreement, tender, (pro forma) invoice etc concerned. So not: Delivery of goods in accordance with contract. But: delivery of 100 coffee machines in accordance with contract no dated Rabo Trade Access 26

27 Also, make sure that the description is properly aligned with the standard wording of the guarantee. You can check this by clicking on the button Preview Guarantee after all the fields have been filled in, and the text of the guarantee as generated will be displayed. Applicable Rules: You can choose here from (drop-down list): URDG 758= Uniform Rules for Demand Guarantees Dutch Law= Dutch Law Other= Other law or legislation Rabobank preferably issues its guarantees under the URDG 758, the Uniform Rules for Demand Guarantees (URDG), 2010 revision, ICC Publication No If you do not want that this you can opt for Dutch law or Other law or legislation. In case you choose Other the field Other legislation will be shown. In this field you can fill in the legislation. Special instructions: Here you can specify instructions. Optionally, you can refer to an earlier stated/issued bank guarantee here. Rabo Trade Access 27

28 Payment Guarantee An extra field for this type of guarantee is: Transport document available to Beneficiary? Use this field to state whether the beneficiary does (Yes) or does not (No) have the transport document. In the event of a claim under a payment guarantee, Rabobank s standard procedures include asking for a copy of the invoice/invoices that remain unpaid and a copy of the transport document concerned related. The transport document can however only be included for deliveries of goods, and not for rendering of services. In addition, the Beneficiary can only submit a copy of the transport document if he himself handles the transport of the goods. Advance Payment Guarantee Extra fields for this type of guarantee relate to details of the advance payment: Rabo Trade Access 28

29 Advance Payment Amount & Currency: Select a currency from the drop-down list and enter the amount the Beneficiary is required to pay in advance. This amount can be equal to the guarantee amount but can also be a different amount. IBAN: State the IBAN number of the account number here into which the advance payment is to be made. IBAN BIC: Enter the BIC code here of the bank where the account number stated under IBAN is held. If the IBAN number relates to a Rabobank account, RABONL2U will automatically be entered in this field. If not, the field will remain empty and you will have to enter the BIC code yourself. Retention money guarantee As with the Advance Payment Guarantee, the IBAN number and associated BIC code have to be filled in for the Retention Money Guarantee. For the description, see Advance Payment Guarantee. A Retention Money Guarantee is issued in exchange for the payment by the beneficiary of the last agreed instalment. The guarantee amount and the amount of the last agreed instalment are equal. Therefore the amount of the last agreed instalment does not have to be stated. Rabo Trade Access 29

30 Credit Guarantee Guarantee contains a default wording for the obligation to be guaranteed, which is: credit- and/or banking facilities granted to (or on the account of) the Principal Debtor. The only additional information that needs to be stated is whether URDG 758, Dutch Law or Other is opted for. Rental Guarantee Description of Goods/Services and Contract (in Guarantee Language): Enter a description of the rental contract here, for instance: rental of office property with 5 parking spaces in accordance with rental contract no dated Rented Object Address: State the address of the rented property here. Rabo Trade Access 30

31 Letter of intent The following fields are displayed for a Letter of Intent: Description of Works: In this field, describe the work you are tendering for, in Dutch. Show Guarantee Amount in Text? A Letter of Intent can be issued with an amount or a % of the contract amount in the text. Use the drop-down list to state whether the amount should (Yes) or should not (No) be included in the text. Percentage: If you chose No in the preceding field, the field Percentage is displayed in the screen. In this field, state the percentage of the contract amount for which the guarantee will be issued if the work is awarded to you. Rabo Trade Access 31

32 3.5.4 Tab Text Use the tab Text if you want to add a required guarantee text. Rabobank will issue the guarantee in accordance with this text, when it is agreed upon. Any remarks are communicated through RTA. Adding a text is not mandatory. You may add a text in the Guarantee Text field or upload a word document, not both. Guarantee text: you may copy and paste your text in this field. By clicking on the Generate Standard Text button this field will be filled with the standard text for this guarantee type if available in RTA. You may modify this text. The field can be cleared by clicking on the Clear Text button. The option to attach a document will then be available again. Attach document: Here you can add a document as attachment (choose browse ). A guarantee text is only allowed/accepted as Word document (doc or docx). In the field Description state the name of your document. Click on Upload to save the document. The following screen appears: Rabo Trade Access 32

33 After all the required details for the guarantee application have been entered, you can click on Confirm at the bottom of the tab. If this has been successfully completed, the screen will display the following message: Transaction completed. The transaction will then have the status Pending and needs to be approved by the supervisor who has the function Authorise Guarantee, which will be discussed later in this document. You can use the function Modify Transaction to subsequently modify an application before authorisation. Again, this is discussed later on in this document. You can save the transaction in the course of creating it by clicking on Save. In this case, the transaction will not be sent to Rabobank. This enables the user to complete the transaction at a later time. These saved transactions can also be resumed and completed by using the function Modify Transaction. You can also save the transaction as a template. To do so, click on the button Template in the tab Instructions. The template can then be used again on a later occasion instead of having to enter all details again from the start. This process is also discussed later on in this document. Rabo Trade Access 33

34 Approve a concept guarantee To transform a concept to a final guarantee, the value of the field What is your response to the concept? should be changed to Agreed, issue guarantee as per concept. If Rabobank composes the first draft or adjust your concept, it will be rejected initially and can be found in function Resubmit Outward Guarantee. Once approved by you, the guarantee can be issued by changing the value at field What is your response to the concept? to Agreed, issue guarantee as per concept. Please refer to chapter 5 for elaborated instructions. When Rabobank agrees upon the concept text during the process of alignment, Rabobank will accept the transaction. If you have not yet set the value of the field What is your response to the concept? to Agreed, issue guarantee as per concept the transaction is offered in the function Concept Guarantee Acceptance. Click on Guarantees in Rabo Trade Access menu bar to access the Guarantees functionalities and choose Concept Guarantee Acceptance. The following screen appears: Rabo Trade Access 34

35 After selecting the filter criteria and clicking on Filter, a screen with results will appear showing a list of all transactions that meet the criteria. Choose the transaction that you want to approve by ticking the corresponding checkbox and then clicking on Select. The following screen with transaction details will appear: You are only allowed to edit the field What is your response to the concept? in this function. Select Agreed, issue guarantee as per concept, if you want Rabobank to issue in accordance with the last concept. Or select Cancel Application, if you want to cancel the application. If you choose to Issue the guarantee as per concept, the field Add as pre-approved Guarantee Text becomes editable. You may want to use the approved concept Guarantee text again in the future, so you can choose to add this guarantee as a standard Guarantee. In the drop-down list you can state whether you want (Yes) or don t want (No) to add the Guarantee as a standard Guarantee. Rabobank will examine the guarantee text for suitability and make it available at the function Create Outward Guarantee. Rabo Trade Access 35

36 Then check if all tabs show the correct input. The last tab contains the confirm button, to confirm the transaction. If successful, the screen will show the following message: Transaction completed. Now the transaction has the status Pending and has to be approved by the supervisor which uses the function Authorise Guarantee, which will be discussed later in this document. Amend Outward Guarantee You can request for an amendment to a issued Outward Guarantee via RTA. Depending on the type of guarantee and the type of validity, the changes that can be requested via RTA are: Extend, Increase, combined Extend and Increase, combined Extend and Decrease and Revoke. Rabobank will send the amendment to the same party as where the guarantee or the previous amendment has been sent to. Choose Amend Outward Guarantee to request for an amendment to a issued Outward Guarantee. An overview will appear showing guarantees to which this can be done. Rabo Trade Access 36

37 After selecting the filter criteria and clicking on Filter, a screen with results will appear showing a list of all the transactions that meet the criteria. Issued transaction will be shown until the expiry date has passed. In case a former request is rejected, the transaction is available again for an amendment. Choose the transaction that you want to amend by ticking the corresponding checkbox and then clicking on Select. The following screen appears: The fields Guarantee Number, Your Reference, Guarantee type and the Name fields are non-editable. In the specific case of Advance payment Guarantee, you need to specify the advance payment amount together with the change of the payment amount. In the field Amendment options you can choose the desired amendment. Rabo Trade Access 37

38 3.7.1 Extend A transaction can be extended by modifying the expiry date. In the field 'New Expiry Date' the desired new expiry date of the guarantee can be entered. Rabo Trade Access 38

39 3.7.2 Increase A transaction can be increased by modifying the amount. In the field 'Increase by Amount the amount by which must be increased can be entered and the New Guarantee Amount is calculated Extend and increase Option to Extend and Increase allows the transaction to be extended and increased at once. Enter the new expiry date and the amount by which must be increased in the appropriate fields. Rabo Trade Access 39

40 3.7.4 Extend and decrease Option Extend and Decrease allows the transaction to be extended and decreased at once. The amount of the guarantee will be decreased one day after the current expiry date. If you wish to decrease the transaction earlier, please contact Rabobank. The beneficiary must first give consent to Rabobank in this case. Enter the new expiry date and the amount by which must be decreased in the appropriate fields. Rabo Trade Access 40

41 3.7.5 Revoke Option Revoke allows a transaction valid until revocation to be revoked. After all fields are filled, you may choose Confirm at the bottom of the page. If this is successful the message Transaction completed will appear. Now the transaction has a Pending status and must be approved by the supervisor using the Authorise function. This function will be explained hereinafter. Use function Modify Transaction to make changes in the amendment before authorisation the function modify transaction can be used. The transaction can be saved using the button Save. The transaction will not be send to Rabobank. This allows the user to continue with the transaction later on from function Modify Transaction. A request rejected by Rabobank cannot be modified and resubmitted. You should create a new amendment. The refusal reason can be viewed from the function View Status. Rabo Trade Access 41

42 4 Supervisor functions Authorise Application Newly created transactions need to be approved by a supervisor, using the function Authorise Guarantee. The guarantee applications created need to be approved by a supervisor before they are sent to the Rabobank backoffice for processing. Depending on the set-up in RTA, these approvals can be provided via a single authorisation or via multiple authorisation levels. To authorise an application for a Guarantee, click on Guarantees in the Rabo Trade Access menu bar and then click on Authorise Guarantee. Click on Authorise Guarantee to authorize a transaction created. Rabo Trade Access 42

43 The following screen will appear: Filter Screen: If you know the guarantee number, your reference and/or the name of the beneficiary, enter them in the corresponding fields and click on Filter. After selecting the filter criteria and clicking on Filter, a results screen will appear showing a list of all transactions that meet the criteria. Choose the transaction that you want to approve by ticking the corresponding checkbox and then clicking on Select. The following screen with transaction details will appear: Rabo Trade Access 43

44 Check all tabs for correct entries. You will find the buttons to release or refuse the transaction in the toolbar on the last tab. Tick this checkbox, as you need to confirm your acceptance of the applicable general terms and conditions (which you can view, if required), including the counter guarantee in respect of Rabobank. - After you have viewed the transaction details and if all information is correct, click on Release to authorise the transaction. - If the data is not correct, select the Refuse option, state a reason and click on OK. Tick the checkbox for the general terms and conditions and counter guarantee and click on Release at the bottom of the screen to approve an application. Click on Refuse to refuse an application request. In the field that appears next, state the reason for the refusal and click on the OK button Multi signing of transactions This functionality is only available on request. If requested please contact your account manager. If you use the functionality to sign multiple transactions simultaneously, you check the boxes of the transactions you would like to sign and choose select. You need to agree to the terms and conditions by checking the box. Subsequently, you choose sign to be able to sign all transactions simultaneously. This is only possible with the USB reader or the Rabo scanner. Click on Refuse to refuse an application request. In the field that appears next, state the reason for the refusal and click on the OK button. Rabo Trade Access 44

45 5 Maintenance functions Modify application Modify Transaction The function Modify Transaction is used to modify Guarantee applications that have not been released yet for forwarding to the Rabobank back-office. These applications still need to be modified first before they are sent for the first time to the supervisor for approval or after they have been refused by the supervisor. Transactions that were saved in the course of being created are also processed using this function. Click on Modify Transaction, filter the criteria for the request that you want to modify or do not enter any criteria so that all pending and saved Guarantee applications will be displayed and click on Filter. All transactions that meet the filter criteria are displayed. Select the application you want to modify by ticking the corresponding checkbox. After you have clicked on Select, the application will be shown on-screen. You can modify the data as required. Click on Confirm when you have finished. Rabo Trade Access 45

46 5.1.2 Resubmit Outward Guarantee The function Resubmit Outward Guarantee is used to modify applications that have been rejected by the Rabobank back-office and to resubmit them to Rabobank. Besides, also composed or adjusted concepts will be offered in this function. Filter the details of the application you want to modify or do not enter any criteria and view all applications rejected by Rabobank. Select the application that you want to modify and click on Select. The reason for refusal by Rabobank is shown on-screen. The transaction details of the application will appear in the screen. In addition, a field will be displayed showing the reason for the refusal by Rabobank. After modifying the data, click on Confirm. A supervisor needs to approve the modified application to re-send it to the Rabobank back-office. If you have requested Rabobank for a concept, you are able to respond on the offered concept in this function. Rabo Trade Access 46

47 During the alignment of the concept the transaction does not always have to be approved by a supervisor to resend the transaction to the Rabobank back-office. In the screen will be indicated if the transaction does or does not need to be authorized. If you agree with the offered concept and would like to have the guarantee issued, you can select Agreed, issue guarantee as per concept at field What is your response to the concept? and have the transaction authorized by a supervisor. Rabo Trade Access 47

48 If you disagree with the concept, you can upload a new text proposal and send it to Rabobank by selecting Disagreed, please adjust concept at field What is your response to the concept? The transaction does not need to be authorized by a supervisor. Rabobank will re-assess your proposed text. In the case Rabobank disagrees with your proposal, Rabobank will compose a new concept and offer it to you in this function. In the case Rabobank accepts the text, it will be offered to you for your final approval and instruction in the function Concept Guarantee Acceptance. You can finalize and issue the text selecting Agreed, issue guarantee as per concept at field What is your response to the concept?. Rabo Trade Access 48

49 Choose Cancel Application at field What is your response to the concept? if you want to cancel the application. The transaction needs to be authorized by a supervisor. Rabo Trade Access 49

50 Delete pending transactions The function Delete Pending Records is used to delete applications that have been refused by a supervisor for forwarding to Rabobank. To delete pending records, click on Delete Pending Records and then enter the filter criteria for the applications you want to remove or do not enter any criteria so that all pending applications will be displayed and click on Filter. All transactions that meet the filter criteria will be displayed. Select the application that you want to remove by clicking the corresponding checkbox. Click on Delete at the bottom of the screen. The screens with the transaction details will appear. If you want to go ahead and delete this application, click on Delete in the last tab. A confirmation message will be displayed. Click on OK to delete the application. The next screen will display the message: Transaction completed. Rabo Trade Access 50