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 Name | Remarks |
| Amendment Instructions | |
| Amendment Instructions | Free text field to incorporate, required amendments |
| New Amendment Details | |
| New Expiry Date | User can enter the new expiry date (will be part of the Guarantee amendment) |
| Increase / Decrease | User to select whether the Guarantee amount needs to increased / decreased |
| Increase / Decrease Amount | User to input the amount, to be increased / decreased |
| New Guarantee Amount | System calculates and displays the new Guarantee amount, based on increase/decrease mentioned above |
| Attachments | Option to attach the documents |
| Action: | |
| Submit | This 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 |
| Arabic | All the Field labels will be displayed in Arabic Language & user can input details in Arabic |
