Guarantee/Standby Letter of Credit
Bolero's Guarantee Application delivers a simple to implement, fast and efficient way to apply for Bank Guarantees across all issuing banks (guarantors). The Application delivers the ability to manage the guarantee issuing process either centrally or at a local level. Either way, full visibility, audit and approval workflows can be incorporated into the process of guarantee issuance. Consistent application of process is key to maintaining operational control and demonstrating compliance with risk management policies. Additionally, for every transaction, the Bolero Exchange Platform checks the identity of the parties that are involved as well as the integrity of the transaction data itself.
By having a single view of all Bank Guarantees, corporations are in a far better position to work with their banks to manage credit lines, monitor and reconcile fees and charges associated to the guarantee and improve cash positions by reducing the requirement for working capital.