Each entity of the group can subscribe a guarantee on behalf of one of its subsidiaries, which will be then considered as the applicant.

Authorization Date

Date mentioned on the letter of instruction (or letter of order) sent to the bank.


The beneficiary is the party that receives the issued guarantee to be assured that they get what they ask.

The beneficiary has the right –under certain conditions– to call upon the guarantee.

Effective Date

Effective date of the guarantee.

In general, it is also the date from which bank fees are accrued.

External Reference

Guarantee reference allocated by the guarantor.


The guarantor is the intermediary committed to the beneficiary on behalf of the principal. In general, the guarantor is a bank or the parent entity.

Initial Amount / Outstanding Amount of the Guarantee

The initial amount of a guarantee is the notional committed amount as requested by the principal in favor of the beneficiary in the contract.

Afterwards, the outstanding amount can change during the guarantee period.

Nominal Expiry Date

Expiry date of the guarantee as defined in the contract. The guarantee period can be extended or reduced.


The principal asks a third party to act as a guarantor on its behalf.

The guarantee displays in the off-balance sheet commitments of the principal.

The principal is financially liable if the guarantee is called upon. The principal bears the costs of the subscription and the maintenance of the guarantee.


Each guarantee has a unique reference number, automatically generated by the system. The reference follows this format: {SMALL_YEAR}.{GUARANTEES_GLOBAL_#####}

E.g. 17.01895

Release Date

Date on which the commitment is no longer taken into account in the records of the guarantor. This field is mandatory in order to switch the guarantee status to Closed both in the software and in the accounting records of the entity. In general, it is the date until which bank fees are accrued.

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