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iBusiness Trade - How to Apply for a Guarantee Amendment? Print

To apply for a Guarantee Amendment on the iBusiness Trade Module, follow these steps:

Step 1: To locate the Guarantee Amendment Application Form on the iBusiness Trade Module

  • Click on Trade & Guarantees >> Guarantee - Transact >> Initiate Guarantee Amendment

Step 2: Tips and Guidance on Filling the Guarantee Amendment Application

  • System displays all the Guarantees which were opened earlier on behalf of the Company
  • Guarantees which were expired before 12 months from the current date will not be available in this list
  • User can select the Guarantee, which needs to be amended

Step 3: Initiating the Guarantee Amendment

  • Click on “Initiate Amendment” to proceed with amendment request

  • System displays the existing details of the guarantee

Step 4: Submitting the Guarantee Amendment

  • Click on “Initiate Amendment” to proceed with amendment request

Field NameRemarks
Amendment Instructions
Amendment InstructionsFree text field to incorporate, required amendments
New Amendment Details
New Expiry DateUser can enter the new expiry date (will be part of the Guarantee amendment)
Increase / DecreaseUser to select whether the Guarantee amount needs to increased / decreased
Increase / Decrease AmountUser to input the amount, to be increased / decreased
New Guarantee AmountSystem calculates and displays the new Guarantee amount, based on increase/decrease mentioned above
AttachmentsOption to attach the documents
SubmitThis will navigate to the next screen. Once Initiated, the transaction will move to approver queue for approval. Upon successful authorization, transaction will be submitted to bank for processing
ArabicAll the Field labels will be displayed in Arabic Language & user can input details in Arabic

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